Direct Lending
After acting as a traditional mortgage banking firm for numerous years, Abacus North has expanded its business to provide unique financing solutions from our dedicate pool of direct capital. Traditional capital providers focus on set formulas based on the type of property and stage of development. Our unique perspective focuses on creating financing solutions based on the economics of the project. Types of loans include:
-
Term Loans
-
Construction Loans
-
Acquisition Loans
-
Portfolio Loans
-
Land/ Pre-Development Loans
-
Convertible Loans, subordinated to Senior Lenders
Projects:
Services
3925 Kingsway and 5715 Jersey Ave, Burnaby BC
Abacus North arranged financing to acquire 33 units at the apartment building located on the corner of Kingsway and Jersey Ave in Burnaby. ANC structured an inter-alia 2nd demand collateral mortgage. The property consists of 101 strata units. The properties were purchased to be assembled and re-zoned for a high-rise development under the Metrotown Downtown Plan OCP.
12409 104 Ave, 12453 & 12463 105 Ave, Surrey BC
Land Assembly of 3 lots to develop a 80 – 90 unit town house development. The footprint of the site is 146,142 Sq Ft (3.35 Acres). Abacus North Capital arranged the funds to provide the first mortgage financing to acquire the site.
18535 76th Ave, Surrey BC
Abacus North Capital provided the capital in the acquisition of residential holding property, that is 8.98acres in size, for a future development site located within the West Clayton neighbourhood of Cloverdale BC. The land was zoned A-1 (General Agriculture Zone) but was designated in the OCP for Urban use. The loan was funded in US Dollars.
The Synchro - 377 East Broadway, Vancouver BC
The Synchro is a 5 storey mixed use building consisting of 29 residential units plus 4 commercial units. The land size is 8712 Sq Ft with Floor size of 28,488 Sq Ft. This site was located at the intersection of Broadway and Kingsway and close to public transit. Abacus North Capital provided the loan to finance the development, construction and marketing of the project.
The Flats - 2312 Galt St, Vancouver BC
The Flats on Galt Street is a rental building consisting of 28 units. The building is located on 12,011 Sq Ft of land with a floor size of 26,424 Sq Ft. The 28 units are broken down to 27 two bedroom units and 1 three bedroom unit with a 20 car underground car park. Abacus North Capital financed the acquisition, development, construction and marketing of the project.
17982 92 Ave, Surrey BC
Abacus North Provided the financing to acquire a residential holding property for future development in the Anniedale-Tynehead neighbourhood of Surrey BC. The land consists of 7.85 acres and is designated for townhouse development as per the Neighbourhood Concept Plan. The loan was structured as an inter-alia 1st mortgage loan with another property the borrowers owned outright.