Deal of the Week #38 – $71M Construction Loan – Mission, BC
Cameron Stephens Mortgage Capital Ltd. (CSMC) is pleased to announce the commitment of a $71 million cost-to-complete construction loan for a two-building, seven-storey mixed-use condominium development in Mission, British Columbia. As the first phase of a planned four-phase master-planned community, the project will deliver 180 market condo units and retail at grade, totaling 170,000 sq. ft. of gross floor area. Located on a greenfield site just minutes from Downtown Mission, the project benefits from strong regional fundamentals including sustained population growth, relative affordability, and access to exceptional natural amenities.
THE CHALLENGE: Structuring Financing for a First-of-its-Kind Project
The Borrower—a highly capable land development firm with a long track record of success—was launching its first mid-rise community as part of a larger multi-phase vision. With a premier site secured and a best-in-class team in place, the Borrower sought a capital partner who could match their ambition and provide confidence and flexibility needed to deliver Phase 1 on schedule.
THE SOLUTION: Strategic Structuring to Support Execution
Leveraging deep market experience and a strong understanding of phased development, CSMC structured a tailored financing solution that aligned with the project’s timeline, mitigated delivery risk, and supported long-term value creation. Led by Jonah Muzyka, Senior Director, Mortgage Origination* and Kyle Yatabe, Vice President, Syndication, the CSMC team delivered a capital structure that met the needs of both the Borrower and Investors.
WHY IT MATTERS:
✅ Customized Structure for Multi-Phase Execution: CSMC designed a financing solution that considered future phases while optimizing leverage for the current stage.
✅ Confidence in Execution: The Borrower’s strong covenant, in-house development capabilities, and carefully selected project team supported a high conviction underwriting process.
✅ Accelerating Growth in Mission, BC: The project is well-positioned to capitalize on demographic and economic trends driving demand for high-quality, well-located housing.
Reach out to Jonah Muzyka to discuss tailored capital solutions for your project. www.cameronstephens.com
*Licensed as Submortgage Broker in BC
