Acquisition bridge for a 48-unit apartment building
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Catalyst Private Credit > Real Estate Lending > Acquisition bridge for a 48-unit apartment building
The situation
A private investor group had a firm purchase agreement on a 48-unit apartment building in south Edmonton with a 30-day closing. Their CMHC-insured takeout financing was expected but would not be approved before the closing date, and the vendor was unwilling to extend.
The structure
Catalyst provided a first mortgage bridge loan at a conservative loan-to-value, interest-only for a term of twelve months with a six-month extension option. The commitment was issued within 48 hours of receiving the appraisal and rent roll, and the loan funded nine days before closing.
The outcome
The purchaser closed on schedule and the insured financing was approved four months later. The Catalyst loan was repaid in full from the takeout, with no extension required.
Key terms
- Facility: first mortgage bridge, interest-only
- Term: 12 months with a 6-month extension option
- Security: 48-unit multi-family building, Edmonton
- Time to fund: 21 days from first call
Why it worked
What made this financing straightforward to approve and fund:
- A firm purchase agreement and a committed, dated exit
- Conservative loan-to-value on a stabilized, income-producing asset
- An experienced sponsor group with equity in the deal
- Appraisal, legal and title work run in parallel from day one
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Solution:
Real Estate Lending -
Funded:
1 September, 2026 -
Sector:
Real Estate Lending -
Term:
12 months -
Share:
Representative financings we have structured and funded.
Have a transaction that needs certainty and speed? Talk to the Catalyst credit team about how we would structure it.
