MCAP is a long-standing lending partner of Phoenix Homes, one of British Columbia’s active home builders in the Fraser Valley. Established in 1999, Phoenix Homes has built a reputation for quality construction and design. Over the last 25 years, they have completed 23 projects for over 700 units across B.C. and are committed to continue developing communities in growing and vibrant neighbourhoods across the province. In recent years, they have been building a mix of townhomes, condos, and rental projects. MCAP has financed three projects for Phoenix Homes, dating back to 2011.
Phoenix Heights: Phoenix Homes’ largest rental project to date
Phoenix Heights is located in Abbotsford, British Columbia. MCAP’s $30,250,000 construction loan enabled the developer to build its largest rental project to date, at 84,000 square feet and 112 units.
About the MCAP Development Finance Group
MCAP is Canada’s largest independent Mortgage Finance Company, and we have been trusted by Canadians for over 35 years. MCAP originates, trades, securitizes and services residential, construction and commercial assets, while providing market-leading funding solutions and superior value for borrowers and investors. MCAP’s Development Finance Group (DFG) offers customized financing for Canadian developers and has been a key player in over $15 billion in funded construction commitments over the last 10 years alone. Their depth of experience in the market enables the team to create solutions that meet the unique and varied needs of their clients.
The MCAP Development Finance Group also provides commercial outsourcing and construction loan servicing solutions for investors looking for a specialized team to manage the administration and monitoring of individual loans.