Lending · CareVest Capital Inc.
Creative Commercial Residential Financing Solutions
In contrast to traditional banks and credit unions, CareVest Capital Inc. has built a reputation for providing more flexible and accommodating financing solutions for commercial residential properties in growing communities in Western Canada.
About CareVest Capital Inc.
Operating since 1994, through numerous business cycles.
The Mortgage Broker originates, structures, advances and administers on a daily basis the mortgage investments of CareVest Core MIC and other CareVest MIC entities. The Mortgage Broker has been operating since 1994 with offices in Alberta and British Columbia and has facilitated lending in Western Canadian commercial real estate financing.
Over our thirty-year history, we have earned the trust of investors, by applying prudent risk management and rigorous underwriting practices attractive to institutional and retail investors by generating attractive yields.
Types of Projects
A complete financing package to get your real estate project off the ground.
By using private lending funds, CareVest can create a complete financing package. Typical project financings include:
- ✓ Land and building acquisition projects
- ✓ Land servicing projects
- ✓ Single family construction projects
- ✓ Multi-family construction projects
- ✓ Commercial, industrial and retail construction projects
- ✓ Condominium inventory loans
- ✓ Term loans on income producing commercial and retail properties
- ✓ Acquisition, refinancing packages and equity take-out facilities
The Lending Process
Our in-house lenders work with borrowers throughout the lending process.
The origination phase includes the participation of our in-house lenders in local markets to better understand local market trends and changes in local market economics. This hands-on approach and knowledge of local market participants is a cornerstone in our evaluating lending opportunities brought to us for financing. Our initial assessment includes, but is not limited to, a thorough understanding of an opportunity’s “fit” in the market place, its sponsorship, and financial realities.
Based on initial assessments, our in-house lenders may request additional background and overview information to assist them in the development of a letter of intent which outlines the terms and conditions upon which the lender is prepared to consider financing for the project under review. Our letter of intent outlines:
- Proposed loan terms
- Proposed structure of the loan
- Security granted
- Borrower release for credit bureau and other review items, and
- Additional information as required – project dependent
The underwriting phase involves our in-house lenders reviewing all provided information and other sourced data, and the preparation and presentation of a credit submission to the lender’s credit committee. Credit submissions typically include discussions on the project, its market fit, project budget, sales and / or leasing projections, construction specifications, floor plans, zoning status, location details, environmental reports, geotechnical investigation, building condition analysis, as well as:
- Borrower and guarantor(s) – financial statements, experience, prior loan history, personal financial information, credit bureau reports
- Third party market reports – appraisal, realtor interviews, physical inspection comments, competing project analysis, demographics, market dynamics
- Lending terms and conditions
- Security to be granted, and
- Exit strategy – exploration of all potential sources of repayment
The credit approval phase includes, but is not limited to, a detailed discussion and review of the data points included in the credit submission.
The contracting phase involves the borrower and guarantor(s) acceptance of a commitment letter generated by the lender after credit submissions have been reviewed and approved by the lender’s credit committee.
The funding and administration phase is managed by the lender’s mortgage services group and involves the review and satisfaction of all conditions precedent to funding and registration of security granted in the commitment letter.
Representative Transactions
Recent work across Western Canada.
Land Financing for 10 Single Family Lots in Metro Vancouver
Construction of 20 Residential Strata Townhome Units
Inventory Financing for 22 Completed Townhomes
Financing for a 19-Lot Single Family Subdivision
Construction Financing of 10 Mixed Units in Alberta
Construction of 6 Residential Strata Townhome Units
Please note that some of the photos displayed above are stock images and may not accurately represent the actual end products.
Borrowers
An interested borrower, or want to learn more?
If you are an interested borrower or would like to learn more, please contact us.