For Brokers

Deal types and sizes we place.

So you can qualify a commercial file in one call rather than sending it and waiting. This is what we place across British Columbia, the sizes that are realistic, and the files we will tell you to send somewhere else.

Typical deals run from around one million dollars up. The property has to be in British Columbia, because that is where the brokerage is licensed.

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Halftone illustration of an apartment building

Asset classes we work on

Six lanes cover most of what comes across the desk. Anything unusual is worth a call rather than an assumption.

Multifamily.

Five units and up, conventional and insured. Insured executions on stabilised rental take longer and price better.

Construction.

Ground up and major repositioning, draw based, with cost to complete tested at every advance.

Industrial.

Warehouse, flex and owner occupied buildings. Strong lender appetite across the Lower Mainland.

Retail and mixed use.

Plazas, single tenant and residential over commercial, underwritten on tenancy quality and lease term.

Land and bridge.

Held land, servicing and short term capital where the exit is dated and credible.

Private and second.

Files a bank declined, transitional income, or timelines a conventional lender cannot meet.

Sizes that are realistic

The practical floor is around one million. Above that, size is rarely the constraint: the constraints are debt service coverage, sponsor strength and how conventional the asset is. A ten million industrial building with a covenant tenant is easier to place than a two million special purpose asset with a short lease.

Leverage moves with asset class rather than with deal size. Stabilised multifamily carries more than land. Special purpose assets carry less than either.

What to send somewhere else

We would rather tell you now than after you have spent two weeks on it.

Residential, one to four units.

That is residential financing. Your own lenders will beat anything a commercial execution can do for that borrower.

Very small commercial.

Well under a million, the appraisal, legal, environmental and lender costs eat a share of the deal that does not serve the borrower. Sometimes the right advice is a business loan or a residential secured facility instead.

Property outside British Columbia.

The brokerage is licensed in British Columbia only. An Alberta or Ontario asset needs a brokerage licensed in that province.

When you are not sure

Borderline files are worth sending. Asset class, size and location decide most of it, but sponsor strength and a credible plan move deals that look marginal on paper. A deal review costs nothing and takes a day.

FAQ

What we place, common questions.

Around one million. Below that the fixed costs of a commercial file, appraisal, legal, environmental where required and lender fees, take a share of the deal that is hard to justify for the borrower. There are exceptions where the sponsor or the asset makes it worth doing.

No. The brokerage is licensed in British Columbia only, so we place British Columbia property. If your borrower has an asset in another province, we cannot take it, and you should place it with a brokerage licensed there.

Buildings of five units and up are commercial and we place them. One to four units is residential financing and it belongs with a residential lender, where the borrower will get better pricing than a commercial execution would give them.

Hotels, gas stations, self storage and similar assets are placeable, but the lender list is shorter and leverage is usually lower. Send them early rather than late, because the answer depends on details that do not show up in a summary.

Keep reading

Mezzanine financingA large deal tool for the gap between senior debt and equity.Free deal reviewNot sure it fits? Get a same day read before you commit anything.Multifamily financingConventional and insured apartment building executions in BC.Industrial financingWarehouse, flex and owner occupied industrial across the province.Bridge and landShort term capital where the exit is dated and credible.Private and second mortgagesFiles a bank declined, or timelines conventional lenders cannot meet.Blanket and portfolio mortgagesClients with several small properties and too many maturities.Submission guideWhat to send so we can size the file on the first pass.

Not sure if it fits? Ask.

Send the property, the numbers and the timeline. If it is not for us we will say so quickly and tell you where it belongs.

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Canadian Commercial Mortgages is a licensed mortgage brokerage operating in British Columbia. Fees are agreed in writing before any work begins, paid on funding, and disclosed to borrowers as required by the BC Financial Services Authority.