Need to close on land or begin construction before your long-term financing is ready? Akali Capital arranges interim bridge financing for qualified multifamily projects with a clearly defined takeout strategy.
One conversation. No obligation. I'll tell you honestly whether a bridge fits your timeline.
Between underwriting, conditions, appraisals, and file volume, a CMHC-insured construction or takeout approval regularly runs longer than the purchase, construction start, or draw schedule allows for. That gap is where deals get lost — not because the project isn't fundable, but because the timing doesn't line up.
Land is tied up, or the project is ready to break ground — but the closing date or construction schedule is fixed.
The file is moving, but approval, final conditions, or funding hasn't landed yet — and won't in time.
Short-term financing gets you to closing or through construction, structured to be repaid when the CMHC takeout funds.
Every file is different, and terms depend on the property, the borrower, and the lender — but the shape is generally the same:
A developer in the Edmonton area had a multifamily site under contract with a hard closing date. The CMHC-insured construction takeout was progressing but wasn't going to be finalized in time to close. A short-term bridge loan, secured against the land and sized around the expected takeout, closed the purchase on schedule. The bridge was repaid in full once the CMHC financing funded.
Illustrative composite scenario for education purposes. Individual outcomes depend on the borrower, property, and lender; not a guarantee of approval, terms, or funding timeline.
No. This is specifically for situations where the CMHC file is moving but hasn't funded yet. If it's already funded, you likely don't need a bridge.
Typically the land or project itself. The right structure depends on the property, the equity position, and where the CMHC file stands — that's part of the conversation.
It's structured to be repaid in full once the CMHC-insured construction or takeout financing funds. Terms and repayment structure depend on the specific file.
Short-term bridge financing generally carries a higher rate than CMHC-insured debt — that's the trade-off for speed and flexibility while CMHC is still in process. Whether it makes sense depends on what closing the gap is worth to your project.
Those are the two markets this is focused on right now, but send the scenario regardless — if it's a fit, we'll talk about it.
A few details on the property and the CMHC timeline — I'll follow up personally with how I'd approach it.