A multi-use office/retail site located in the heart of the city’s Arts District along the highly desirable 124th Street. At the time of funding, the building was only 10% occupied with a signed Offer to Lease for another 80% of the space. Canada ICI provided low cost takeout financing that was structured as interest only until the major tenant took occupancy and began paying rent. The five-year term mortgage was funded at 75% of stabilized value.
Located in the southeast community of Sundance, this project has over 200,000 square feet of office space in the Sundance Business Park. The property is one of the city’s only A class office developments. Financing involved various institutions, including a prominent Canadian Life Company.
The former Stantec Campus is a contemporary, single-tenant office complex located in the heart of the city’s Government District. This 190,000 square foot property is comprised of 2 eight-storey office towers, joined by a central atrium which has achieved LEED Silver Certification.
Shops at Boudreau is an upscale lifestyle centre located on the north side of this western Canadian city. The tenancy encompasses a mix of luxury boutiques and restaurants with second floor professional space. The project was constructed by a local developer. Canada ICI arranged a unique term loan for the property upon substantial completion, which allowed for an interim interest-only period, converting to an amortizing loan upon full stabilization, while locking in the term interest rate on day one.
The Glenwood Medical Office project consists of over 46,000 square feet across three buildings and 3.6 acres. The property is leased to a strong roster of local, regional, and national tenants within the medical sector and is ideally located along Stony Plain Road. Following completion of the project, a stabilization loan was secured with a prominent Canadian pension fund manager to allow for the funding of tenant inducements and further leasing.
The Barron Building is a landmark development located within the city’s downtown core. Built in 1949, it has over 130,000 square feet of office and retail space. The building itself is included in the Alberta Association of Architects’ list of Significant Alberta Architecture. This building was financed as a bridge facility with no income in place.
Palomar is a retail/office space located on one of the busiest intersections on Whyte Avenue, the city’s premier entertainment strip. The building has over 18,000 square feet of space and has been completely renovated to give the space a new, modern esthetic. The financing, completed with a life company, was structured as an interest only facility initially and converted to principal and interest payments once the maturing leases were renegotiated, to maximize the loan amount at purchase.
Located in Calgary’s highly coveted Mission neighbourhood, 2020 on 4th is a six-floor, 130,000 sq. ft. retail and office building within short walking distance of Calgary’s vibrant 17th Avenue. The construction financing was committed on a fully speculative basis. The project is now 100% leased with recent term financing from a large Canadian Pension Fund.
A four and a half-storey restored heritage-designated office building consisting of a rentable area of 56,540 square feet. The building is currently home to 14 tenants and is located a few blocks north of the iconic Portage and Main intersection. The asset was over 80% leased on purchase and purchased as part of a larger portfolio that had some value-added opportunities for the purchasing group.
A “Class A” office building located at the corner of Barlow Trail and 16th Avenue NE, within the community of Sunridge. The building is three storeys and contains nine tenant spaces totalling 86,049 square feet of rentable office space. The property is part of the Sunridge Business Park, making it a coveted space for its proximity to shopping malls.