Lumen at South Pointe
Lumen is a 148-unit townhouse rental complex located in the southwest quadrant of this western Canadian city. A high-leverage financing with minimal equity allowed the Borrower to reach lock up stage in the majority of the units prior to the winter season. Canada ICI structured a partnership with an institutional capital source and a mortgage investment corporation which resulted in a market leading cash on cash return to the developer.
No. of units