We were introduced to the group through a local law firm, and we were able to introduce them to a product they had not yet used as it was new to the market. CMHC had just rolled out an Affordable Construction program that allowed Borrower’s access to CMHC’s insured borrowing rates while keeping premiums lower than traditional construction loans. In return, Wiebe would offer their units at a discount to the community- a win for Wiebe, and a win for the community. Wiebe saw this as a great fit for their next multi-family development and engaged us to assist them through the process.
We worked through multiple scenarios with Wiebe to come up with the right structure for their multi-building development request. Once we had come up with the structure we wanted, we obtained discussion papers from three CMHC approved lenders, and ultimately helped pick the right partner for the project. We worked closely with both the Lender and Wiebe’s CFO through the various stages to get the deal across the finish line.
“Having Ashdown help us navigate through this new CMHC program was invaluable . They helped make the entire process smoother, including fielding questions from the lender. They negotiated and advocated on our behalf, producing outcomes and solutions that would have been more difficult to achieve had we been negotiating on our own. Ryan was a pleasure to work with, and we felt confident having him on our side. I would not hesitate in recommending Ryan and his team to any developer that is looking for financing, CMHC or otherwise.” – Lara Holtby | CFO
- Commercial Mortgage
- CMHC Affordable Construction