$3 Million Construction Line of Credit Secured for New CIBC Branch Development in Richmond, BC

Client: Veteran Real Estate Developer 

Purpose: Construction of a Purpose-Built CIBC Branch 

Loan Amount: $3,000,000 Construction Line of Credit

A seasoned real estate investor in Richmond, BC, secured a pre-lease agreement with CIBC to build a dedicated branch on a strategically located lot. Despite the project’s strong long-term returns and stable tenant, traditional lenders were hesitant to fund a ground-up development financing request—putting the deal and tenant commitment at risk.

Syndicate Lending Corporation stepped in to arrange a tailored $3 million revolving construction line of credit in partnership with a major chartered bank. The facility was secured against the land and the build-in-progress, with flexible draws tied to construction milestones. The structure offered interest-only payments during the build phase, with the rate set at Canadian Prime—no added premium.

By leveraging the CIBC lease agreement, detailed budgets, and the developer’s proven track record, we fast-tracked underwriting and closed the facility within three weeks. This enabled timely payments to contractors and uninterrupted commercial construction financing progress.

The client successfully completed the project on time and delivered the branch as promised, preserving their relationship with CIBC. Post-completion, the stabilized asset value opened doors to new real estate development loan opportunities—without requiring additional equity outlays.

Discover how we’ve helped clients secure the funding they needed by exploring our case studies. Visit our services page to see everything we can do for you.

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