Mills Road Industrial Property

Mills Road Industrial Property

 A successful real estate investor and owner of a property management and rental company was looking to expand their real estate investment portfolio, sourcing industrial properties in Victoria, BC. With local lease rates the highest in Canada due to low vacancy rates and limited supply, and the investors’ ability to self-manage the property, there was significant incentive to pursue investment. 


The investor had identified an opportunity to purchase a two-building industrial property, with stable, long-term tenants on board, but was not getting the leverage and pricing he was looking for from his current banking connections. He also needed to adjust his personal financing structure to access the equity required for the purchase. 


 The client was referred to Ashdown Capital by their realtor, recognizing Ashdown’s expertise and established banking relationships. Ashdown’s Andrew Still evaluated and packaged the strengths of the clients’ position and background, emphasizing the stability of its current long-term tenants, before approaching the lenders most suitable for the transaction. He also assisted with the coordination of personal financing, connecting the client with suitable partners within his professional network. 

Andrew effectively negotiated lower pricing and the relaxation of some covenants based on strong ownership and tenanting. He ultimately secured 75% loan-to-value for the client, who has enhanced their portfolio with a productive industrial investment property. 

Client Testimonial

“We were really impressed with Andrew’s professionalism and streamlined approach to get the deal done. Andrew’s resourcefulness and attentive service provided valuable time and time again as we moved through the lending process. His knowledge and expertise are an asset and we would highly recommend Andrew to any commercial investor. We have already referred Andrew and his team to other investors and will certainly be in contact for our next deal. ” David and Mandy V. 

Services Used

  • commercial mortgage