Deal of the Week #21 – $58.5 Condo Construction Loan – Revelstoke, BC
Condo Purchaser Demand Remains Robust in Revelstoke!
Cameron Stephens is delighted to have committed to a $58.8 million condominium construction loan for a marquee project in Revelstoke, BC.
In a challenging market for condo pre-sales across Canada’s major urban centers, Mackenzie Village has shown that a thoughtfully crafted housing product in an emerging, world-class outdoor recreation destination can still generate strong demand. With over 80% of the latest phase pre-sold, this 102-unit condo development is a resounding success, and Cameron Stephens is proud to be the financing partner.
Located in Revelstoke, BC, Mackenzie Village offers a perfect blend of residential and commercial spaces for adventure enthusiasts and community lovers. Situated in the heart of world-class skiing and mountain biking in the Selkirks, the upcoming phase features a variety of 1 to 4-bedroom homes designed for flexible lifestyles. With short-term rental zoning, these homes are ideal as both personal getaways and valuable investments.
Revelstoke, BC, home to Revelstoke Mountain Resort, is on its way to becoming one of North America’s premier outdoor recreation communities. With consistent snow conditions, expansion potential to become the continent’s largest ski resort, and upcoming investments like Cabot Revelstoke’s golf course and Northland Properties’ hospitality projects, the future looks bright.
WHY THIS DEAL MATTERS:
✅ Institutional Capital in Emerging Markets: Financing options for projects outside major urban centers are limited, but Cameron Stephens recognized the extraordinary evolution of Revelstoke and the opportunity presented by Mackenzie Village. By working closely with the Borrower to adequately de-risk the financing, we brought in institutional partners alongside our internal funds to offer a compelling loan package.
✅ Recognizing a Strong Track Record: Mackenzie Village’s previous phases set the standard for alpine condos in the area. Cameron Stephens is proud to lead the construction financing for the next evolution of this thriving community.
✅ Finding Opportunity in Unique Markets: At Cameron Stephens, we leverage sophisticated credit adjudication and market insights to protect our investors’ capital and find opportunities where conventional lenders may not. Mackenzie Village exemplifies this philosophy, partnering with a sophisticated borrower on a project with proven demand in one of the continent’s most exciting resort destinations.
For further information and more commercial real estate financing opportunities, reach out to us at financing@cameronstephens.com
- Jonah Muzyka, Director Mortgage Origination – Western Canada*
- Ian Wilson, VP Mortgage Origination
- Brad Wise, SVP & Managing Director – Western Canada*
- Daniel Leitch, CFA, VP, Head of Syndication
- Leigh Licursi, MBA, Senior Analyst
*Licensed Submortgage Brokers under Cameron Stephens Mortgage Capital Ltd.
