{"id":12206,"date":"2019-04-17T15:15:27","date_gmt":"2019-04-17T22:15:27","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12206"},"modified":"2019-04-01T13:21:32","modified_gmt":"2019-04-01T20:21:32","slug":"b-20-proves-a-boon-for-commercial-sector","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/b-20-proves-a-boon-for-commercial-sector\/","title":{"rendered":"B-20 Proves A Boon for Commercial Sector"},"content":{"rendered":"<p style=\"text-align: justify;\">While B-20 substantially cooled Canada\u2019s residential real estate market, it\u2019s proven a boon for the commercial sector.<\/p>\n<p style=\"text-align: justify;\">\u201cOn the commercial front, we\u2019re seeing a lot more activity on buildings of more than 5 units,\u201d said David Goncalves, a mortgage broker and partner of Mortgage Alliance Vine Group. \u201cWe\u2019re seeing this upswing because people got squeezed out of buying residential properties because of the lending rule change, and as a result we\u2019ve seen significant growth in the commercial sector.\u201d<\/p>\n<p style=\"text-align: justify;\">In Toronto, mixed-use developments have exploded in popularity among investors, and Vine Group has capitalized on the growth by securing financing for small and mid-sized real estate developers. While residential lending practices have changed to become more restrictive, commercial underwriting practices have become more liberal.<\/p>\n<p style=\"text-align: justify;\">\u201cA lot of lenders on the residential side have door policies,\u201d Hugo Dos Reis, a partner at Vine Group, said of limits placed on residential investment properties. \u201cLenders don\u2019t want to loan to holding companies, and if they do they charge a premium. Even the big banks are getting away from that as well, but what we\u2019ve found is that a lot of people are looking at multi-residential commercial properties instead of buying, say, a triplex.<\/p>\n<p style=\"text-align: justify;\">\u201cThe lending now is on the asset and the most important part of the deal: cash flow. The client\u2019s exposure in other properties is an advantage because we can articulate in our business case that we have an experienced real estate investor who\u2019s invested in small to mid-sized commercial properties. As regulation gets tighter on the residential side\u2014because residential financing isn\u2019t designed for large portfolios\u2014the banks are still lending, only it\u2019s on the commercial side.\u201d<\/p>\n<p style=\"text-align: justify;\">Big Six banks are not the only lenders partial to commercial lending. According to Liam Sauro, associate vice president of Capital Markets Group, B-20 has allowed alternative and private lenders to grow their commercial mortgage originations, as well.<\/p>\n<p style=\"text-align: justify;\">\u201cIn the short-term, the private lending market on both residential and commercial is growing as a result because people require more equity, or leverage, than a bank is willing to offer them, and that\u2019s led to growth in institutional Tier 2 lending,\u201d he said. \u201cIt\u2019s also led to tertiary lender growth, and I don\u2019t think it\u2019s slowing down any time soon, especially so long as those rules are in place.\u201d<\/p>\n<p style=\"text-align: justify;\">There\u2019s also every reason to believe that lenders\u2019 favourable disposition towards commercial holdings will persist, added Sauro.<\/p>\n<p style=\"text-align: justify;\">\u201cThose rules are part of what make up the whole mentality of the banking system here. In the U.S., they have a growth period and they look to loose regulation; in Canada, you have a period of can be perceived to be unsustainable growth and they look to tighten regulation because of fear of what could happen next.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/b20-proves-a-boon-for-commercial-sector-255969.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">B-20 Proves A Boon for Commercial Sector<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While B-20 substantially cooled Canada\u2019s residential real estate market, it\u2019s proven a boon for the commercial sector. \u201cOn the commercial front, we\u2019re seeing a lot more activity on buildings of &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/b-20-proves-a-boon-for-commercial-sector\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-12206","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>B-20 Proves A Boon for Commercial Sector &#8226; 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