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Capital Commentary
Darryl D. Bellwood Director of Commercial Lending , First National Financial Corporation
Adam Powadiuk Business Development Manager , First National Financial

Creative financing for a commercial property mortgage

Darryl D. Bellwood Commercial Transactions National Feb. 27 2019
For commercial property owners, the most popular types of mortgages available are term mortgages.  Terms can range in duration, from shorter terms (one to three years), to mid-range (five to seven years) and longer-term mortgages (10 years plus). Typically, the mid

CMHC Flex financing an option for affordable housing

Adam Powadiuk Residential Affordable Housing National Jan. 17 2019
Toronto and Vancouver recently held municipal elections and affordable housing was centre stage in debates, social media and campaign promises. In Toronto, the two leading candidates had set development targets of 40,000 to 100,000 affordable units over a 10-year time

CMHC underwriting mortgage changes

Darryl D. Bellwood Residential Financing National Jun. 6 2017
If you are already an apartment building owner or looking to purchase an apartment building. you have two mortgage options. They are a Canada Mortgage and Housing Corporation-insured mortgage or a conventional mortgage (non-CMHC).  There are pros and cons to

The power of the second mortgage

Adam Powadiuk Commercial Financing National Mar. 16 2017
Many people think of second mortgages as an option reserved for riskier deals or under-capitalized borrowers. The truth is it’s a tool used by a wide cross-section of investors to serve many purposes. Cap rates continue to sink lower and

Time to build purpose built rental units?

Darryl D. Bellwood Residential Market Trends National Oct. 3 2016
Condominium construction has dominated the residential development space for a number of years now. This was primarily due to the demand for the condominium product and due to the fact that the demand almost ensured that an entire condominium project

Floor rates

Adam Powadiuk Commercial Leasing National Jul. 25 2016
If you’ve recently discussed a commercial mortgage with a lender, you have likely encountered floor rates. As bond rates have sunk lower, they are becoming a regular and necessary part of lending in Canada. Before we delve into the pros

Third party reports

Darryl D. Bellwood Commercial Transactions National Jun. 3 2016
As part of the underwriting process lenders look at all aspects of risk in their analysis. One way to mitigate their underwriting risk is to obtain independent third party reports on the property. Not only is this a way to

Recourse that matters

Adam Powadiuk Commercial Partnerships National May. 4 2016
Mortgages are secured against a property. When additional security is required, which is very common in Canada, a lender will look for recourse to the borrower or an additional guarantor. The assets held by the corporation or individual will be

Alternative asset classes a riskier investment

Darryl D. Bellwood Commercial Strategy National Mar. 23 2016
Generally, investors in commercial real estate are familiar with more mainstream assets usually classified as multi-family or apartments, retail property and office property. These types of assets usually dominate investor’s appetite since they typically provide safer investments and good locations

Skyrocketing office vacancy, maturing loan bad combination

Adam Powadiuk Commercial Market Trends National Mar. 2 2016
The effects of declining oil prices have been felt in a variety of unpleasant ways, particularly in Western Canada. One of the more pronounced repercussions is the office vacancy rates in Calgary and Saskatoon, the largest cities in their respective

Thoughts on 2015 and 2016

Darryl D. Bellwood Residential Market Trends National Jan. 23 2016
Now that 2015 has ended and we begin 2016, we can wonder what lies ahead for this year. Before we take a look at the possibilities, let us review what 2015 produced. A review of the preceding year allows us