Summer Newsletter 2021
CAMERON STEPHENS, BRIXEN DEVELOPMENTS & QUEENSGATE HOMES
SOUTH DISTRICT CONDOS
Our latest Deal Talk video features South District Condominiums by Brixen Developments and Queensgate Homes. Cameron Stephens arranged two loans for this ideally situated development in Barrie that connects its residents to a complete urban lifestyle. First, a pre-development loan for $8,000,000 was fully financed through our private fund. Upon achieving pre-sales, a construction loan was arranged for $52,400,000 which included the refinance of the pre-development loan.
The customized financial solutions Cameron Stephens provided through multiple phases of this project were a key component in helping this group bring this inspired new community to life.
SPECIAL ANNOUNCEMENT
Introducing Brad Wise
Brad Wise is Senior Vice President & Managing Director, Western Canada and joined the company in June 2021.
Brad Wise –
Senior Vice President &
Managing Director, Western Canada
Cameron Stephens
Mortgage Capital Ltd.
As Cameron Stephens continues to grow and evolve from a small boutique mortgage lender in Toronto, to a large institutional, nationally recognized asset manager, an experienced and seasoned professional has been hired to oversee the company’s rapid expansion throughout Western Canada. “Brad Wise is a great asset to Cameron Stephens and comes to CSMC with a wealth of knowledge and valuable experience,” said Steve Cameron, Cameron Stephens’ Executive Vice President.
THE PEOPLE THAT MOVE US
Meet our Underwriting, Syndication & Credit Team
“Our experienced team has established a reputation for strong underwriting that
allows us to provide truly bespoke financing solutions for our clients.”
– Tim Ryder, VP Underwriting and Investment Management
Tim heads the credit adjudication, underwriting and syndication desk at CSMC and is responsible for the comprehensive review and assessment of all investment opportunities. In his role, Tim has led his team to the underwriting and syndication of over $3.8 billion in commercial real estate transactions.
Daniel Leitch has been with Cameron Stephens since 2013 and works alongside Tim as AVP – Underwriting and Investment Management. Under his purview is the management of the underwriting team, loan syndication as well as the oversight of over $1B in assets under management.
Under their leadership, the team is responsible for investor relations, underwriting, syndication, and account management related to all lending opportunities at Cameron Stephens. Operating with strong guiding principles and a prudent investment philosophy, the team infrastructure allows for a collaborative approach to deal structuring, underwriting, and syndication to ensure that the needs of our investors and borrowers are aligned to create win-win solutions.
OUR RECENTLY FUNDED PROJECTS
London
CSMC funded a $85MM, 1st mortgage construction loan to build out a 31-storey purpose built rental apartment building in London, Ontario. The project will offer 266 rental apartment units with over 316,000 SF of net rental space.
CSMC was in discussions with the client since 2018 and committed on a transaction in 2019.
Since the initial commitment, the project had a significant cost increase due to site specific factors and construction / labour costs increasing throughout Southern Ontario.
CSMC believed in the project and worked extensively with the client to propose a winning solution. The end result was an increase in loan amount of $15MM, and a reduction in the interest rate of 1.20% (primarily due to reduction in the Prime rate).
The key value add of CSMC’s revised offer was that the Borrower was only required to inject 11% of cash equity for a rental project.
Toronto & Barrie
CSMC funded two 1st mortgage bridge loans totaling $6.025MM to assist in the acquisition of two retail store fronts on Bloor Street West and a 2 acre residential development property in Barrie designated for mid-rise development. The subject loans represented a loan-to-value of 75% based on purchase price.
Because of the development horizon (~5 years), CSMC was able to provide the Borrower a flexible financing solution that institutional Lenders could not.
From start-to-finish, CSMC was able to provide the Borrower a commitment in 30 days to allow a successful closing.
Cambridge
CSMC funded a $118.5MM construction loan comprised of a $110MM 1st mortgage lead by our amazing partners at Laurentian Bank, and we backed the deal with a $8.5MM mezz note, for the build out of two condo towers in Cambridge, Ontario.
Since the funding of this loan, we have also approved two additional land loans for this client and we’re looking forward to the eventual construction loan opportunities.
We are proud to have funded, and been repaid on, over $200MM worth of transactions for this long-standing client, over a seven year period.
WHAT’S NEW ON THE PODCAST 
FEATURED EPISODES
Episode 26 - Toronto Under Construction with Toronto Counsellor Brad Bradford
Brad Bradford
The #TUCpodcast is excited to welcome our very first Toronto Councillor to the podcast. Brad Bradford, Ward 19, Beaches-East York joins us to discuss his career start in Planning, his move from the private to the public sector, affordability across the city, and how he’s working to create more vibrant street fronts in Beaches-East York. Tune in now for a jam packed episode!
Episode 25 - Toronto Under Construction with James Burton from Percy Ellis
James Burton
The #TUCpodcast is excited to welcome James Burton to the podcast to discuss his start in renovations, his move to Purpose Built Rentals, and how he and his partner are scaling their business. James also drops some book recommendations and shares more about his love for the East end of Toronto. Tune in now!
Episode 24 - Toronto Under Construction with Neil Pattison from Graywood Developments
Neil Pattison
Neil Pattison from Graywood Developments joins the #TUCpodcast to discuss Planning, the evolution of the city, Graywood’s current projects and the future of buildings. Tune in now to the Toronto Under Construction podcast!