Monthly Archives: May 2015

Mike Saba

Mike joined Bancorp as vice-president of Origination in May 2015, and has over 10 years of experience in commercial lending and brokering real estate loans. Before joining Bancorp, he worked at HSBC Bank of Canada and Lanyard Financial Corporation where … Continue reading

Rental Housing

Loan Amount: $2,632,000 Location: Langford, BC Mortgage Type: 1st mortgage Description: First mortgage construction loan for the development of a 20 unit rental project.

Land Financing

Loan Amount: $25,000,000 Location: Vancouver, BC Mortgage Type: 2nd mortgage for land financing Description: Second mortgage for development of multi-family condo building.

Townhouse Development

Loan Amount: $800,000 Location: Langley, BC Mortgage Type: 1st mortgage Description: First mortgage for acquisition of land

Condominium Project

Loan Amount: $1,555,000 Location: Langley, BC Mortgage Type: 2nd mortgage Description: Second mortgage for development of 90 unit condo project.

Condo Development

Loan Amount: $1,877,500 Location: Abbotsford, BC Mortgage Type: 1st mortgage Description: First mortgage to provide inventory financing.

Commercial/Residential Development

Loan amount: $1,000,000 Location: Victoria, BC Mortgage Type: 2nd mortgage Description: Acquisition financing for the purchase of 4 parcels of land to be developed

Single Family Financing

Loan Amount: $1,300,000 Location: Victoria, BC Mortgage Type: 1st mortgage Description: Construction of a single family dwelling.

Land Acquisition

Loan amount: $1,245,000 Location: Maple Ridge, BC Mortgage Type: 2nd mortgage Description: Second mortgage to finance land and to provide site servicing to a single family subdivision.

Low-Rise Financing

Loan Amount: $900,000 Location: Red Deer, AB Mortgage Type: 2nd mortgage Description: Construction financing for the development 47 residential rental units.