CMHC Financing for Small Mid-Rise Projects
Abtin Nikeghbali
Is a Director of Mortgage Origination at Canada ICI. Since 2020, Abtin has advised on over $4.5 billion in real estate financings across Canada, leading the structuring and underwriting of complex debt and equity capital solutions. His expertise spans land and construction loans, bridge and inventory financing, term debt, and equity placement.
CMHC MLI Select may offer compelling financing terms for purpose-built rental development—but “up to 95% loan-to-cost” does not mean every project will receive 95%, or that a developer needs only 5% cash.
In this episode, Payam Noursalehi speaks with Abtin Nikeghbali of Canada ICI about what lenders and CMHC examine when evaluating a small Toronto mid-rise or multi-unit rental project.
The conversation covers:
• Net-worth and liquidity expectations
• Construction and property-management experience
• How lenders assess rents, vacancy and operating assumptions
• The difference between maximum leverage and actual proceeds
• Why owners must front construction costs before receiving draws
• Builder contracts, bonding and third-party management
• CMHC construction financing versus completion takeout
• When a developer should begin the financing process
• How Major Streets and EHON projects may fit into the rental-financing landscape
The rates, timelines and program interpretations discussed reflect the conversation at the time of recording. CMHC policies and financing terms can change. Obtain current advice from qualified lending, legal, accounting, appraisal and construction professionals before making a project decision.
#RealEstateDevelopment #CMHC #PurposeBuiltRental #DevelopmentFinancing #TorontoRealEstate
Construction Innovation Checklist
This document is a supplementary resource to
episode #24 of the Real Estate Development
Insights Podcast in which Payam Noursalehi shares a practical framework for evaluating and selecting the most suitable innovative systems for your next project.
