Looking to purchase real estate for commercial use? – Let the I Direct Mortgages team help you.
I Direct Mortgages is a leading mortgage brokerage specializing in commercial real estate financing. We provide comprehensive mortgage solutions for multifamily properties, office buildings, commercial/industrial condos, medical offices, industrial warehouses, retail spaces, mixed-use properties, land development, and hotels.
Our Expertize
With our expertise in multifamily properties, we assist investors and developers in securing the ideal mortgage for residential complexes and apartment buildings. Our team understands the intricacies of this market segment and can guide you through the process.
For businesses seeking office spaces or commercial/industrial condos, we offer tailored financing options that align with your unique requirements. Our knowledge of location, amenities, and growth potential ensures you receive the most suitable mortgage for your needs.
Types of Commercial Mortgages:
Multifamily
Multifamily properties are the go-between for residential and commercial real estate. A multifamily property is a residential property that has more than one housing unit. At the Commercial Department we will review any Multifamily property with 5 units of more which for most of the lenders it is consider commercial lending.
Office Building
Like multifamily properties, office buildings are also designated to low, mid and high rise based on their size. Office buildings are a common type of commercial building of any size. An office building might be only one story, or it might be a skyscraper. The owner of an office building might have offices within it, or they might rent out the entire building.
Commercial/Industrial Condo
Commercial /industrial Condo owners share common driveways, roofs, loading areas, utilities, landscape areas, an in one way or another, they also share a common wall. The owner not only owns their section of the building but the lander under it as well.
Medical Building/Office
• Healthcare facilities are considered a type of commercial building. • Medical facilities include • Doctors’ office • Dental office • Small clinics • Nursing homes
Industrial/Warehouse
• Industrial properties can also vary quite a bit in size , depending on their specific use-cases • Heavy Manufacturing • This category of industrial property is really a special use category that most large manufacturers would fall under. These type of properties are heavily customized with machinery for the end user. • Light Assembly • These structures are much simpler than heavy manufacturing properties. Typical uses include storage, product assembly and office space • Bulk Warehouse • These properties are very large, normally in the range of 50,000 to 1,000 square feet. Often these properties are used for regional distribution of products .
Retail
Strip Center
• Strip centers are smaller retail properties that may or may not contain anchor tenants ( An anchor tenants is imply a larger tenant which usually serves to draw customers into the property). • Strip Centers typical contain a mix of small retail stores like Restaurant, nail salons, dry cleaners and so on • Other type of retail will be: • Community Retail Centre • Power Centre • Shopping Centre • Regional Mall
Mixed Use
• Mixed used properties, can actual be a combination of any types of commercial property.
• The most common form of mixed-use properties, especially in cities, are retail/restaurant properties with office or residences sitting on top.
Land
• All commercial properties come with land but sometimes it is vacant with no building on top of it. This is an asset class in and of itself and there are three subtypes of them
• Agriculture Land :Agriculture land is vacant land that is used for agricultural purposes such as farming or pasture.
• Infill: Infill land is vacant land that is located in an urban area where nearby properties have already been developed.
Hotels / Hospitality
A hotel is a type of commercial real estate that rents space to individuals by the night. There are three types that investors should be aware of Full-Service Hotels
• A full-service hotel is one that provide a full suite of services to guests. These typically include onsite restaurants, fitness centers, a spa, room service, etc. For example, the Ritz Carlton brand is a well known full-service hotel brand that caters to business travelers and vacationers looking for luxury
Limited-Service Hotel
• As the name suggest, a limited-service hotel is one that has a limited number of services. For example, instead of a sit-down restaurant, they may have a grab and go market. Or, instead of a full fitness center, they may have a scaled back fitness room with just a few pieces of equipment. Courtyard by Marriott is an example of a limited service hotel
Extended Stay
• Most hotel stays are in the 3–7-night range, but there is a certain segment of travelers who need to stay longer.
