Commercial mortgages —
built for sponsors who
run real assets.
Apartment buildings, plazas, warehouses, hotels, and specialty real estate. We pair your deal with the lender that actually wants it — A-bank, monoline, CMHC, MIC, or institutional — and structure for rate, term, and recourse together.
Every commercial structure
under one roof.
Commercial deals fail when sponsors over-rely on one lender’s rate sheet. We build the right capital stack from 40+ A-banks, monolines, MICs, CMHC, and institutional capital.
CMHC MLI Select
Up to 95% LTV, 50-yr amortization on stabilised multi-family meeting affordability, energy, or accessibility thresholds. We model the points table in-house to maximise your score.
Conventional Term Debt
Uninsured A-bank or monoline term debt at 65–75% LTV. Faster to close than CMHC, flexible across retail, industrial, and mixed-use assets where insured programs don't apply.
Bridge Financing
6–24 month capital for value-add, lease-up, repositioning, or pre-CMHC takeout. We structure the bridge and the takeout as one transaction — one team, one closing.
Construction Loans
Land + servicing + vertical construction draws with cost-to-complete underwriting. Project-managed from first draw to permanent CMHC or conventional takeout.
Five steps from
term sheet to funding.
Commercial deals are bespoke — but the workflow is consistent. Here’s what you’ll see over the 60–120 days from intake to funded.
Sponsor + asset intake
Share your sponsor profile (T1, NoA, T2, REO schedule) and asset summary (T12, rent roll, leases). We turn around an initial read and appetite assessment in 24–48 hours.
Lender shortlist + term sheets
We build a 3–5 lender shortlist sized for your file and asset class. Indicative term sheets in 5–10 business days with rate, LTV, recourse, and prepayment compared side by side.
Full underwriting + funding
Appraisal, Phase 1, structural, financials. Commitment in 30–45 days from a full file. Lawyer closes; funds advance at closing or per progress draws for construction files.
From multi-family to
specialty — we know
the appetites.
Each lender has appetite preferences. Knowing who actually wants your deal saves rate, time, and avoidable declines. Tap your asset class below.
Asset classMulti-family apartment building (5+ units)
Multi-family apartment building (5+ units)
CMHC MLI Select can deliver up to 95% LTV and 50-year amortization on stabilised multi-family. We model the affordability, energy, and accessibility points table in-house — most sponsors leave leverage on the table by missing the next tier.
Discuss my multi-family deal Asset classRetail strip plaza or anchored centre
Retail strip plaza or anchored centre
Anchored, multi-tenant, and single-tenant retail financed at 65–75% LTV through A-banks and monolines. We know which lenders price anchor renewal probability into the cap rate — a detail that saves rate and improves recourse on the right file.
Discuss my retail deal Asset classIndustrial, warehouse, or flex space
Industrial, warehouse, or flex space
Distribution, manufacturing, and flex industrial financed at 65–75% LTV. Strong DSCR profile and long-term tenants attract the most competitive conventional rates. We know where the best industrial appetite sits right now.
Discuss my industrial deal Asset classHotel or hospitality property
Hotel or hospitality property
Limited-service, full-service, and flagged hotel financing at 50–70% LTV. Lender appetite is selective — we submit to the small group that genuinely wants hospitality rather than the large group that theoretically accepts it.
Discuss my hotel deal Asset classGas station or convenience store
Gas station or convenience store
Financing for gas stations and convenience stores, with or without environmental issues. Specialty lenders with Phase 2 experience can hold leverage when a Phase 1 flags a concern that would stop a generalist bank cold.
Discuss my gas station deal Asset classSelf-storage facility
Self-storage facility
Stabilised, lease-up, and value-add self-storage. Strong cap rates and low-maintenance income attract both conventional and CMHC lenders. We structure for the option with the best long-term LTV and prepayment flexibility.
Discuss my self-storage dealYour bank knows their box.
We shop forty boxes.
Commercial deals are won at the structuring table — not on a rate-sheet PDF. The right lender for your file may be a name your banker has never heard of.
| Capability | Our approach | Traditional bank |
|---|---|---|
| Lenders shopped | 40+ A-banks, monolines, MICs, CMHC, institutional | 1 |
| CMHC MLI Select expertise | Yes — affordability/energy modelling done in-house | Variable |
| Bridge → CMHC takeout | Structured as one transaction | Two separate processes |
| Mezzanine / pref-equity | Pre-vetted institutional capital relationships | Rare |
| Construction financing | Land → servicing → vertical → CMHC takeout | Often referred out |
| Time to first quote | Usually 5–10 business days | Varies |
| Cost to sponsor | Often no placement fee; any fee disclosed in writing | Origination fees + legal |
Common questions,
clear answers.
LTV, DSCR, MLI Select, timelines, fees, and recourse — answered plainly.
What's the minimum deal size you'll work on?
$1M is our practical floor for commercial. Below that, structuring fees rarely pencil for the sponsor — we'd point you toward a residential investment-property mortgage or a small-business loan instead. Above $50M is fine; we have institutional placement relationships for those files.
What's CMHC MLI Select and why does it matter?
MLI Select is CMHC's points-based multi-unit insurance product for 5+ unit residential. Sponsors meeting affordability, energy, or accessibility thresholds can access up to 95% LTV and, at the top points tier, 50-year amortization — by far the most attractive multi-family financing in Canada. We model the points table in-house and structure the deal to maximise the score.
How long does a commercial mortgage take?
60–120 days from term sheet to funding is typical. Conventional refinances can close in 45–60 days. CMHC files run 90–150 days because of the insurer review. Construction and acquisition timelines are case-by-case.
What LTV can I expect on commercial?
Multi-family insured (CMHC MLI Select): up to 95%. Multi-family conventional: 65–75%. Retail / industrial: 65–75%. Hospitality / specialty: 50–70%. Owner-occupied commercial: higher leverage is sometimes possible through program lenders such as BDC.
What's the typical DSCR requirement?
Most commercial lenders want DSCR ≥ 1.20–1.30 on senior debt. Insured multi-family (CMHC) is closer to 1.10–1.20. Specialty lenders go lower with sponsor strength and recourse. We model DSCR before submitting so you don't see a surprise.
Do I need a personal guarantee?
On most commercial files yes — at least partial. Larger CMHC files and institutionally-sponsored deals can be non-recourse beyond a small carve-out (bad-boy guarantee). The recourse package is negotiable on the right deal.
Can you finance value-add or repositioning?
Yes. Bridge financing into a stabilised takeout (CMHC for multi-family, conventional for retail/industrial) is one of our most common structures. We model both legs of the transaction up front so you know your blended cost of capital before closing.
How are commercial rates set?
As a rough guide (September 2026; illustrative, not a quote): insured multi-family prices around 5-yr GoC + 100–180bps. Conventional commercial is 5-yr GoC + 175–300bps depending on asset class and LTV. Bridge runs 8–12% on senior, 12–18% on mezz. Rate is one factor — LTV, term, recourse, and prepayment terms matter equally.
We’ll try to beat your rate.
If we can’t, we pay you $500.¹
¹ Rate Beat: eligible Big-6 bank written offers only · same product, term & amount · $500 paid to you or your nominated charity at closing · conditions apply
Commercial mortgage specialists by city
Commercial real estate values, cap rates, and lender appetite vary by market. Our network covers deals from Toronto to Vancouver — matched to the lender that actually wants your asset class in your city.