Re-financing of 3 retail strip plazas for $7,600,000.

The client is based in Calgary and approached me for assistance as some of the tenants were unable to qualify for the Federal Rent Relief Program. The landlord wanted to offer them partial or full rent deferrals to survive through the Covid-19 Pandemic.

Recognizing that the majority of the tenants were AAA rated, have been with the landlord for over 5 years, less than 1% vacancy rate and that the properties were well managed and maintained, we were able to offer a 25 year amortization period with 6 months interest-only period and a great interest rate.

Win-Win Scenario: This financing resulted in excess cashflow for the Landlord to proactively offer rent relief to tenants (with or without Federal rent relief program) as needed so they can continue with their livelihoods without having to worry about being evicted, falling behind on rent or losing their businesses due to the Pandemic.

If any of these terms appeal to you, give me a call at 403-608-4896 or e-mail at fahad.nayyar@bdc.ca