Bridgemarq Real Estate Services extends, increases debt facilities

By Wendy Van Sickle

Columbus, Ohio, March 31 – Bridgemarq Real Estate Services Inc. amended its debt facilities with the Canadian Imperial Bank of Commerce to extend the maturity date by three years, increase the borrowing capacity by C$10 million and increase future interest rates by 30 basis points, according to a news release.

Specifically, the maturity date has been extended to Dec. 31, 2026 from Dec. 31, 2023; the borrowing capacity has been increased to C$90 million by a C$10 million upsize to the revolving acquisition facility; and, starting Jan. 1, 2024, interest rates will increase to CDOR plus 200 bps from CDOR plus 170 bps.

The provider of services to residential real estate brokers is based in Toronto.

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