Real Estate Capital Advisory.
The capital stack, structured.
Debt and equity, layered in the right order.
TESA Capital Group structures and coordinates the capital strategy behind a project. Working alongside lenders, investors, and intermediaries, we plan the debt and equity across land, construction, and take-out, so the capital stack fits the project and the sponsor.
Smart Capital Structuring
The differentiator.
The differentiator. We do not favour one product. We structure the most efficient capital stack for each deal and coordinate the partners who place it.
Match debt and equity to the project and the sponsor.
Structure across the full timeline: land, construction, and take-out.
Coordinate the partners so the financing holds together stage to stage.
What We Structure
The whole stack, or one piece.
Land acquisition.
Construction financing.
Take-out, or permanent, financing.
Take the whole capital stack planned as one, or a single piece on its own. If you need only construction financing, or only a permanent mortgage, we structure that too.
The Capital Landscape
Funding from across the spectrum.
Multi-family funding, existing and construction, is drawn from across a spectrum, and we structure across all of it:
- 01Private financingprivate investors, MICs.
- 02Private equity and mezzaninemortgage servicers, syndicators.
- 03Institutionalcredit unions, international banks.
- 04Institutionalthe Big Five, pension funds, life companies.
- 05Institutional, CMHC-insuredStandard and Select.
- 06Government, CMHC-insuredMLI Select.
CMHC Financing
Where multi-family returns are made.
For multiplex and apartment development and investment, CMHC-insured financing is often what makes the returns work. We structure projects to take advantage of it and coordinate the lenders and intermediaries who place it.
MLI Standard.
CMHC mortgage loan insurance for multi-unit rental of five or more units. Conventional terms and faster qualification, used to acquire or refinance stabilized buildings and to support construction.
MLI Select.
Introduced in 2022, a points-based program that rewards affordability, energy efficiency, and accessibility. Higher scores unlock better terms: higher leverage, up to 95 percent loan-to-cost on construction, amortization up to 50 years, and reduced insurance premiums. It can cover construction and take-out, or take-out alone.
Why it drives returns: more leverage means less equity in the deal, a longer amortization means stronger cash flow, and lower premiums lift the bottom line. Together they can turn a marginal multi-family project into a strong one.
These are CMHC program features, subject to CMHC qualification and the project's score, stated as program features rather than TESA promises.
The Integrated Advantage
Capital structures the financing strategy for the project that Real Estate found and underwrote, Development designed and permitted, and SKLTN built. Because Capital sits inside the group, it builds the capital strategy around a project the group already understands in full, the underwriting, the drawings, and the build cost, which makes for a stronger case to lenders and investors. When a client wants the entire arc as one bespoke engagement, that is Signature Build.