Kingsett Capital Strengthens Mortgage Offering With Introduction of CMHC Lending Program

TORONTO, Oct. 13, 2021 /CNW/ - KingSett Capital Inc. announced today the expansion of its lending program with the introduction of five and ten-year term Canada Mortgage and Housing Corporation (CMHC) insured mortgages. This program will support the financing of multifamily market rental, affordable rental, student housing and seniors' residences in British Columbia, Ontario and Quebec.

The KingSett CMHC program will offer loans starting at $2 million with a focus on primary and secondary markets in the three provinces. KingSett expects the program to expand to other provinces over time. The program will offer rates with a competitive spread over Canada Mortgage Bonds, an amortization period of up to 40 years, and loan-to-value ratio of up to 85%. The program will provide financing to bridge to a CMHC-insured loan as well as CMHC-insured and conventional second mortgages.

"Given KingSett's strong familiarity with multifamily and lending, CMHC is a natural expansion of our mortgage product offering," said Scott Coates, Group Head, Mortgage Investments, KingSett Capital. "The new CMHC program offers flexible bridge financing for almost any circumstance, including proceeds for closing, stabilization, repositioning or construction. It also aligns with our long-standing commitment to offering customized solutions that deliver value and expertise beyond capital requirements."

With more than $4 billion of outstanding loan commitments across Canada, KingSett offers a range of tailored financing solutions for a broad range of asset classes at various stages of development. KingSett has deep expertise in real estate lending, investing, development and asset management, including multifamily residential. Last year, KingSett, in partnership with Starlight Investments, acquired Northview Apartment REIT for approximately $5 billion. The transaction was the largest acquisition in Canadian multi-residential sector history.   

Additional information on KingSett's new CMHC lending program is available at:
https://kingsettcapital.com/mortgage-lending/

About KingSett Capital

KingSett Capital is Canada's leading private equity real estate investment firm. Founded in 2002, KingSett has raised $12.5 billion of equity for its Growth, Income, Urban, Mortgage and Affordable Housing strategies, executing over $50 billion in transactions life to date. Currently, KingSett has $16.2 billion of assets under management in a $19 billion portfolio. KingSett continues to seek further opportunities to invest in a wide range of real estate properties, developments, joint ventures and mortgage lending.

For CMHC lending inquiries, please contact:

Shawn Feldon
Multifamily Mortgages, KingSett Capital
(416) 687-6754 or [email protected]
KingSett Mortgage Corporation (FSRA Brokerage #11330, Administrator #11897)
Agent # M15000065

SOURCE KingSett Capital