Insights

Cameron Stephens Mortgage Capital (CSMC) is proud to announce the successful refinancing of a $41.1 million land loan for a 60-acre industrial site in the Greater Toronto Area. Completed on behalf of a highly respected developer/owner, this transaction reflects the strength of our ongoing relationship—and marks another milestone in our commitment to delivering tailored capital solutions for Canada’s leading real estate players.

THE CHALLENGE: Operating in an Uncertain Land Market

CSMC initially provided a $43 million land loan to the Borrower in 2022 to support the site acquisition. Since then, the Borrower has advanced the planning process for the site development.

With land values softening and increased uncertainty in the market, the Borrower sought a refinancing solution as the original loan reached maturity—creating a need for additional runway to secure planning approvals and position for development.

THE SOLUTION: Tailored Financing in a Changing Market

Led by Kyle Yatabe, VP, Syndication, and Miraan Mukhtar, Analyst, Underwriting & Portfolio Management, CSMC delivered a custom financing package:

✅ Reduced Interest Reserve Advances: The Borrower will pay interest current, with reserve advances starting three months post-funding. A reduced floor rate was also included to capture potential rate reductions.

✅ Early Refinance Option: The loan is open after six months, providing flexibility to refinance once planning approvals are in place and construction is ready to begin.

THE CAMERON STEPHENS ADVANTAGE:

✅ Flexible Financing: In a challenging environment, CSMC structured terms that met the Borrower’s evolving needs—including reduced reserve requirements and early exit optionality.

✅ Deep Market Expertise: Our access to proprietary capital and institutional partnerships enabled us to deliver a solution that supports our client through complex market dynamics.

This deal underscores our investor relationships, client trust, and ability to deliver strategic financing in today’s market.

Meet the Team Behind the Deal:

• Riccky Dasgupta, FRM, CFA, VP and Head of Origination, Broker
• Kyle Yatabe – VP, Syndication
• Miraan Mukhtar – Analyst, Underwriting & Portfolio Management
• Max Chuyko – Analyst, Mortgage Origination

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