Industrial mortgages for
Canada’s most
lender-favoured asset class.
Single-tenant, multi-tenant flex, distribution, last-mile, cold storage, R&D, manufacturing. We know which lenders price most aggressively for your specific use case.
Four structures for
industrial real estate.
Owner-occupied vs investment, single-tenant vs flex — each profile has its own preferred lender list, and pricing varies by 50–100bps across them.
Owner-Occupied Industrial
Business owners buying their own building. Higher leverage possible through BDC (up to 100% of project cost) or the federal CSBFP (loans up to $1M). Effective cost of capital often beats leasing.
Timeline: 45–75 daysInvestment Industrial
Single-tenant or multi-tenant investment property. 65–75% LTV, conventional A-bank or monoline. Long leases to investment-grade tenants price tightest.
Timeline: 45–75 daysBridge & Repositioning
Vacant lease-up, manufacturing-to-distribution conversion, environmental remediation. 65–75% LTV, 1–3 year term. Routed to bridge and private lenders with genuine appetite.
Timeline: 21–35 daysBuild-to-Suit Construction
Pre-leased construction with single-tenant credit. Construction draws plus permanent takeout structured together — one transaction, not two separate processes.
Timeline: 60–120 daysFrom offer to funded —
six to ten weeks.
Industrial closes faster than CMHC multi-family. The pacing item is usually the environmental Phase I — we run that workstream alongside underwriting.
Asset & sponsor intake
Building specs, tenant or use, T12 if investment, sponsor profile. We assess ceiling height, dock count, power supply, and environmental flags — all before we approach lenders.
Lender shortlist & pricing
3–5 lenders sized to your use case — distribution vs manufacturing vs cold storage. Indicative pricing back to you in 5–10 business days of a complete package.
Environmental & conditions
Phase I ESA ordered alongside the lender process. If Phase I triggers, we coordinate Phase II follow-up. Appraisal, structural, insurance, survey, and tenant estoppels run in parallel.
We finance across
every industrial scenario.
Tap any situation below to see how we approach it.
If you’re…You own a single-tenant distribution building with a long-term 3PL lease
You own a single-tenant distribution building with a long-term 3PL lease
Investment-grade tenant on a long WALT is the tightest-pricing scenario in commercial lending. We model full NOI and DSCR, shop A-lenders and monolines who actively compete for stabilised industrial, and target the best rate in the market.
Get a term sheetIf you’re…Your business operates from the building you want to buy
Your business operates from the building you want to buy
Owner-occupied files can reach higher leverage than investment properties through BDC, bank owner-occupier programs, or the federal Canada Small Business Financing Program. We pre-vet which programs your business qualifies for before submission.
Explore owner-occupier optionsIf you’re…You're financing or refinancing a cold storage or refrigerated facility
You're financing or refinancing a cold storage or refrigerated facility
Cold storage narrows the lender list but the right lenders price it competitively. We know which A-lenders treat refrigerated assets as specialty and which price them near dry distribution. Specialised appraisal and operating-cost underwriting handled in-house.
Start my cold-storage fileIf you’re…Your industrial building is vacant or partially leased and needs bridge financing
Your industrial building is vacant or partially leased and needs bridge financing
Lease-up bridge and repositioning are structured on a stabilised-value basis with a 1–3 year term. We route these to bridge and private commercial lenders with genuine appetite for the use case — not a generic rate sheet.
Structure my bridgeIf you’re…A Phase I environmental report came back with recommendations
A Phase I environmental report came back with recommendations
A Phase I with recommendations does not kill a deal. Depending on the concern, we may move to a private or MIC lender priced for environmental risk, proceed with a remediation holdback, or wait for a clean Record of Site Condition. We pre-screen environmental exposure to avoid surprises.
Discuss my environmental fileIf you’re…You're buying or refinancing a multi-tenant flex industrial complex
You're buying or refinancing a multi-tenant flex industrial complex
Multi-tenant flex with healthy WALT and diversified income is well-received by A-lenders. We model each lease individually, overlay tenant covenant strength, and present NOI conservatively so the term sheet you sign is the one that funds.
Start my flex fileIndustrial gets won by
the lender who wants the deal.
Last-mile distribution to a 3PL prices differently than 1980s manufacturing converted to flex. We know which lenders price aggressively on which use case.
| Capability | Our approach | Traditional bank |
|---|---|---|
| Lenders shopped | Industrial-active lenders across A, B, monoline & private | 1 — your existing bank |
| Use-case-specific pricing | Distribution vs cold vs flex modelled separately | One blanket rate sheet |
| Environmental coordination | Phase I / II coordinated by our team | Sponsor's responsibility |
| Owner-occupier programs | BDC, CSBFP & bank programs pre-vetted | Rare or referred out |
| Build-to-suit construction | Construction + permanent as one transaction | Often two separate processes |
| Time to first quote | 5–10 business days | 3–6 weeks |
| Tenant credit overlay | Investment-grade pricing tier for strong covenants | Generic asset-class rate |
Common questions,
clear answers.
LTVs, environmental reports, tenant types, rates — answered plainly.
Why do lenders like industrial?
Lenders see well-located industrial as one of the lower-risk commercial asset classes: functional buildings re-lease readily, e-commerce and logistics support demand, and operating costs are modest. That translates into deeper appetite, solid LTVs and tighter pricing. Vacancy and rents vary by market and cycle, so we check current conditions for your submarket.
What LTV can I get on owner-occupied industrial?
Owner-occupied industrial can reach higher leverage than investment property, up to about 90% on some programs (for example BDC, credit union owner-occupier programs, or bank loans backed by the federal Canada Small Business Financing Program, within its limits). The rest can sometimes come from a vendor take-back or a small mezzanine layer. Every approval is lender-dependent.
Will environmental Phase 1 issues kill my deal?
Not necessarily. Most lenders accept Phase 1 reports with no recommendations as cleared. If recommendations trigger Phase 2, the deal may shift to a private/MIC lender priced for environmental risk, or proceed to remediation with a holdback. We pre-screen environmental risk before submission to avoid surprises.
Can you finance cold storage / refrigerated facilities?
Yes — though the lender list narrows. Cold storage requires specialised appraisal and operating-cost underwriting (refrigeration is a major opex line). Most A-bank lenders price cold storage 25–50bps wider than dry distribution; a few specialised lenders price it equally.
What about manufacturing buildings — single-tenant heavy industrial?
Lender appetite varies sharply by industry. Food, beverage, packaging, and aerospace tenants price tightest. Heavier industries (chemicals, metalworking, paint, plating) face environmental scrutiny and a narrower lender list. We model both before submission.
Will lenders finance a multi-tenant flex building?
Yes. Multi-tenant flex (small-bay industrial with 5–15 tenants) is a solid asset class — diversified income, low default risk, strong demand. Pricing is comparable to single-tenant if WALT is healthy.
What's the typical industrial mortgage rate?
Illustrative broker estimates; reviewed October 2026 (not quotes): 5-yr fixed conventional industrial around the 5-yr Government of Canada bond yield + 150–225bps for stabilised assets with strong tenants; owner-occupied around + 175–275bps at higher leverage; bridge roughly 8–11%.
What documents will I need?
Asset: T12 (investment), lease(s), property survey, environmental Phase 1, appraisal (lender-ordered), insurance. Owner-occupied: 2 years of T2s, T1 + NoA for principals, business banking. Sponsor: REO schedule, government ID, banking.
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
Industrial real estate prices differ by market — vacancy rates, land costs, and lender appetite shift across the GTA, Hamilton, London, Ottawa, and beyond. Our commercial desk knows which lenders price most aggressively for distribution, cold storage, flex, and manufacturing in each submarket.