Mortgage Banking

Abacus North provides unique, creative, long-term financing options for any scale project. Capital is sourced from traditional senior lenders, private/mezzanine debt providers and institutional lenders.  Due to the scale of the projects we have sourced capital for and focus on maintain long-term relationships with lenders our clients often benefit from preferential access.  Our portfolio includes an array of properties, including mid & high rise condo developments, office and industrial buildings, retail shopping centres, senior housing facilities, hotels, and multi-family apartment complexes.

With custom solutions, our structured debt professionals will guide you through each of the options available to best suit you in bringing your vision to fruition.

Services

Projects:

Lumina - 2425 Beta Ave, Burnaby BC

A master planned multi-family residential community located in the highly desirable neighborhood of Brentwood in the City of Burnaby. The project consists of 3 high rise towers with grade level townhouse units. The entire project contains 829 strata residential units. Abacus North assisted in providing capital to successfully complete the acquisition of the property and provide working capital during the re-zoning process. Total projects costs are approximately $300 Million with a project market value of $500 Million.

2242 Alpha Ave, Burnaby BC

Alpha Ave development is located in the Brentwood area in North Burnaby. This 23 storey high-rise residential tower will consist of 160 strata titled units demised into 156 condominiums and 4 townhouse units. The development also includes main floor and underground parking containing 212 parking stalls. Abacus North arranged the acquisition, working capital for soft costs during the rezoning process and construction financing. Total project costs are approximately $85 Million with a market value of $110 Million.

Sussex Ave, Burnaby BC

Sussex is a high-density mixed use development located in the highly desirable neighborhood of Metrotown – Metropolis Centre of Burnaby. The property is a 45 storey mixed use building with retail and office use on the ground and podium levels, and a 14 storey non-market housing building. Abacus North assisted with the land acquisition and construction financing. Approximate project costs are $220 Million with a market value of $275 Million.

5740 - 5800 Minoru Blvd, Richmond BC 

Minoru Blvd development is a high-density development in the heart of Downtown Richmond along Lansdowne and Minoru Blvd. The mixed-use development will consist of three residential towers with retail at the bottom and one office tower. The project will consist of 390 residential units and 4 levels of parking with 890 spaces. Abacus North assisted with the land acquisition costs of approximately $60 Million. 

LOMA, Coquitlam BC

901 Lougheed Highway is to comprise of a 25-storey, mixed-use development consisting of 125 residential condo units, 52 market rent apartments, six non-market apartments, three commercial units and 282 stalls of underground parking. Market rental apartments will be held and managed by the Borrower. Non-market rental apartments will be gifted to the City of Coquitlam. The site currently encompasses a single legal lot that is improved with two commercial buildings and a paved parking lot. Abacus North assisted with the land acquisition costs of approximately $10 Million and the construction loan of $77 Million. 

Amaji - 38033 Second Ave, Squamish BC

Amaji - Squamish is a vacant site that is to be developed with a free standing six storey mixed-use development. The development will consist of 64 residential units on top of two floors of office and commercial retail units. Abacus North assisted with the construction financing with a total project cost of $26 Million.

Willow Brook Village, Langley BC

Willow Brook Village is located in the Willow Brook neighborhood in the Township of Langley. In total the project is a 199 unit mixed-use residential and 19,500 square feet of commercial space. The project consists of 83 townhouse units and 116 condominiums and 20 commercial real estate units. Abacus North assisted with obtaining land acquisition along with Phase I & II developments costs. There are a total of 4 phases and Abacus North will be securing the financing till the completion of the project. Total project costs are approximately $70 Million with market value of $80 Million.

5475-5493 Brydon Crescent, Langley BC

We secured land acquisition financing for three residential sites in the City of Langley. The site is currently occupied with single family dwellings. The sites are to be developed in to a 5 storey 79 unit wood-frame apartment building with two levels of concrete below grade parking. 

1st & Renfrew, Vancouver BC 

1st & Renfrew is a four storey, 81 unit mixed-use condominium project. In total there are 73 residential units and 7 commercial units located at the intersection of Renfrew and 1st Ave. Abacus North arranged for the financing for the construction loans. Total project costs were approximately $30 Million.

9375 176 Street, Surrey BC 

We assisted with the land acquisition of a 4.8 acre site in the Anniedale-Tynehead neighbourhood of Surrey. The high-density designation obtained from the Anniedale-Tynehead NCP allows for ground-oriented townhouses and for homes with a maximum building height of 3 stories. The park designation also allows for public lands to be used for passive and/or active recreation. Total purchase price was approximately $7.5 Million.

The Professional Center (TPC), South Surrey BC  

TPC is a 121,942 square foot 4 storey retail office building with 83 underground and 256 surface parking stalls. The tenant base is to consist of low impact businesses, high-tech industries, research and development companies, light manufacturing and corporate head offices. Abacus North arranged the land acquisition and the working capital during the re-zoning process.

Inventory Financing - Telus Gardens, Vancouver BC

Condo inventory financing of 6 units for our client. The inventory included 4 penthouse units and 2 two-bedroom units. The total project value was approximately $12 Million.

18619 76th Ave Surrey BC

1st mortgage financing for the acquisition of a 9.7 acre parcel in Surrey BC. The West Clayton area of Surrey is undergoing a fundamental change in land-use patterns to increase residential density. The property will be held with plans to develop it to conform to the OCP.

Copyright 2020 Abacus North Capital Ltd.