Tesah West

Canada ICI arranged a mid-construction refinance and conversion of Tresah West, a 179-unit multifamily tower project, from condominium to purpose-built rental. The transaction involved the complex cancellation of all existing condo pre-sale contracts, placement of an interim bridge financing solution to repay all deposits to purchasers, and a subsequent CMHC insured rental refinance of the total construction and bridge financing. At completion in 2025, Tresah West will be positioned as a 179-unit mid-rise rental asset in the core of Victoria, setting a new standard for rental accommodations. The project benefits from non-combustible structural steel construction, panoramic views of Victoria, and from immediate proximity to Mayfair Mall, Downtown Victoria, and major transit arterials.