Deal of the Week #23 – Low-rise Residential in Vaughan, Ontario
Swift Approval and Competitive Financing: Cameron Stephens Delivers Flexible Solutions for Large-Scale Developments!
Cameron Stephens Mortgage Capital (CSMC) is proud to announce the approval and commitment of a $64,320,000 1st mortgage land loan for a low-rise residential site in Vaughan, Ontario. This project represents a multi-year master-planned community spanning nearly 100 acres.
CSMC’s historical relationship with the sponsor and strong underwriting of complex entitlements, geotechnical, and servicing requirements underscores our ability to understand value and deliver on terms from LOI to Commitment in an efficient manner. As land money has dried up in the current market environment, CSMC continues to support our clients and the industry as a whole. The deal’s orchestration required exceptional precision and due diligence, led by Ian Wilson, Vice President, Origination, and Andrew Honsberger, Senior Associate, Underwriting and Portfolio Management.
WHY THIS DEAL MATTERS:
- Expertise in Complex Markets: Our ability to close such a significant transaction highlights our expertise in navigating tough market conditions, ensuring that our clients can advance their projects without compromise.
- One-Stop Financing Solution: CSMC serves as a comprehensive resource for all financing needs as demonstrated by the 7+ year history with the client.
- Flexibility in Financing: In an environment where credit on land lending has tightened significantly, our accurate underwriting and deal structuring were able to provide the client with confidence in their business underscoring CSMC’s ability to underwrite a large proforma, understand value and continue to offer solutions in today’s market.
This deal not only reflects our deep financial acumen but also our commitment to fostering long-term client relationships and adapting to market dynamics. Join us in celebrating this milestone as we continue to set industry benchmarks in non-bank lending.
Ontario Brokerage License # 10769
- Ian Wilson, VP Origination, Agent Level 2
- Daniel Leitch, CFA, VP and Head of Syndication, Agent Level 1
- Andrew Honsberger, CPA, MBA, Senior Associate, Underwriting and Portfolio Management
