Connective–Kamloops
Purpose
Securing 25 affordable homes in Kamloops.
-
Connective Support Society Kamloops
-
Riverside Gardens
-
139 Tranquille Road, Kamloops, BC
-
Sacha provided first-mortgage bridge financing so Connective Support Society Kamloops could acquire Riverside Gardens and move the homes into non-profit ownership.
-
The two-building property includes studios, one-bedroom and two-bedroom homes. The bridge loan was repaid through CMHC-insured takeout financing.
Investment Details
Investment amount
$1.8 Million
Project Value
TBD
Type of Capital
We provided a First Mortgage Secured Loan
Purpose of Capital
Acquisition Financing
Year Funded
TBD
Investment Outcomes
Social
Protects 25 homes as affordable rental housing under non-profit ownership.
Environmental
Planned renovations improve energy performance and longevity.
Financial
Acquisition financing bridges the project to insured long-term debt.
