- First mortgages and mezzanine loans
- Multi-family residential
- Retirement Homes
Typically two to five years; with a maximum term of 10 years.
Interest rates for these mortgages are generally determined by adding credit and liquidity spreads over the 30-day LIBOR rate with similar terms to maturities. BCI’s portfolio managers utilize a multi-factor risk rating model to assess credit risk levels on individual investment opportunities. The risk factors that are evaluated include: location; improvement(s) quality; tenant financial strength; borrower and covenantor’s financial strength; loan-to-value level; debt servicing ability; borrower’s experience.
Maximum 75 per cent loan-to-value
Mortgage agreements may also include additional security provisions such as: personal guarantees; corporate guarantees; letters of credit; pledging of additional collateral.
All mortgages require a property inspection, current market appraisal, and a current environmental audit.
Typical range of $50,000,000 and higher.