At the beginning of 2022 we undertook as an organization to reimagine and rewrite our corporate brand, along with our mission, vision, and core values. I assembled a team of key thought leaders in our organization to be part of the process, to truly do a deep dive on who we are, where we want to go, and what we believe in as an organization. Through that process, we learned a lot about ourselves and each other.
One of the key stakeholders in that conversation was Riccky Dasgupta. Riccky is an integral part of the inner working of our organization, a member of our management team, and a true thought leader. Recently, Riccky sat down to reflect on his time at Cameron Stephens, and his identification with one of Cameron Stephen’s core values: Precision.
Please take a moment to learn more about the process:
Since our origin in 2004, Cameron Stephens has focused on being a prudent non-bank lender, supporting developers in their mission of building homes for Canadian families. To achieve its mission, one of the values Cameron Stephens espouses is Precision.
Precision is defined as the quality, condition, or fact of being exact and accurate. While it may be challenging to be Precise in an evolving world, Cameron Stephens strives to apply Precision to its investment decision making framework.
The pursuit of Precision at Cameron Stephens begins with hiring talented individuals who are innovative thinkers and possess natural curiosity. Our team members have a drive for seeking new information through conversations with clients and industry experts (i.e. planners, appraisers, cost consultants, environmental consultants). Our managers organize monthly Lunch and Learn sessions where a leading industry consultant shares their expertise with our team. We are Precise in our Professional Development.
Our analyst and underwriting teams use consistent, time-tested adjudication processes to create our investor packages and recommend transactions to both our institutional and private investors. As part of our process, our analysts review the submitted enclosures in detail and summarize the most important points in our investment package. At times, this work involves numerous discussions with the client’s team and their consultants. We endeavor to present information comprehensively, factually, and without bias. We are Precise in our Due Diligence.
To encourage a high degree of Precision, Management has implemented Checklists and Customized Templates for every loan type. Each manager is also encouraged to provide immediate and specific feedback with a score to their team members. We are Precise in our Processes.
Our transactions go through a multilayered approval process. It starts with an initial review on our Deal Qualification committee, where Senior Management weigh in on the deal structure and the risks and mitigants of the transaction. In the next step, a 20- page to 50-page investment package is created which outlines all pertinent deal information. This package is presented to our Internal Credit Committee, which is comprised of Senior Internal and External Credit Executives. Once our Internal Credit Committee supports the transaction, it is presented to our Investor’s Credit Committee. The wisdom from the three committees allows us to create high quality investment packages, which highlight relevant risks to our Investor’s capital. We are Precise in our Governance.
Precision is built into Cameron Stephen’s DNA. We work with care. Our net loan losses for our largest private capital fund are only 0.17% over the last 10 years (2012-2021), which is a testament to our focus on Precision.
The latest from DealTalk introduces Alice Block Historic Lofts, just minutes from the heart of Downtown Guelph. Once an industrial factory, Alice Block breathes new life into an existing historic building with a dramatic conversion project, transforming it into a collection of striking modern residences. Together with the City of Guelph’s Heritage Incentive Grant, Cameron Stephens helped fund this project through a $31.1M first mortgage construction loan. Watch the DealTalk video now to learn more about how we finance from the ground up.
Cameron Stephens Mortgage Trust (CMST) is hosting two exclusive events for accredited investors.* Each of these is an incredible opportunity to meet the Cameron Stephens team and to invest in CSMT. For more details about these events, see below.
Cameron Stephens is growing! We’re pleased to introduce you to our latest Analyst, Ramya Prabhu! She has joined our Mortgage Investments team in Vancouver, bringing her expertise as an analyst to Cameron Stephens after the completion of her Bachelor’s Degree in Economics from the University of Alberta. We look forward to having her talent help us grow stronger!
CSMC completed due diligence and funded a 36 month, $13.1 million land loan for a half acre, 5 lot parcel in Vancouver, B.C. The site is ideally located near the Marine Drive Skytrain station and will be rezoned for a modern, 6-storey building with 70 residential condo units.
CSMC was able to provide an $18MM Mortgage Land Loan for a 3.41 Acre site that is being re-developed into a 10-storey, 220-unit condo (155,443 SF GFA), 70 stacked townhouses (69,612 SF GFA) and 21 row townhouses (41,562 SF GFA). CSMC was able to find a mutually beneficial deal to help the Borrower fund costs to get them to the construction of this project. CSMC is working closely with the Developer to continue on the success of the first deal for the construction loan requirement.
Ep. 36: Toronto Under Construction Podcast with Sam Crignano from Cityzen Developments
Ben and Steve welcome Sam Crignano, the founding partner and President of Cityzen Group to Episode 36 of Toronto Under Construction. Sam, a legend in Toronto real estate, has over 35 years’ experience in mixed-use and high-rise developments. His background and expertise touch every part of the real estate process from Sales and Marketing, commercial and land investment and assembly, acquisitions and planning and development of residential and mixed-use sites.