After another successful year in 2021 here at Cameron Stephens, it’s exciting to see the same traction in the marketplace as we hit the pavement in 2022. We were able to finish 2021 with record breaking numbers, with over $1.2B in new commitments accepted, and a loan portfolio with over $2B in assets under management. In the first two months of 2022, we are well on our way to exceeding those records, with 15 deals done in January and February with total new commitments of $247MM.
As the world continues to change and evolve, we are optimistic that the Canadian market is a place people will continue to invest and seek to reside. Despite rising interest rates, inflation, turmoil in Russia and Ukraine, and the lingering effects of the Covid-19 pandemic, we remain steadfast in our mission of creating real and sustained wealth for Developers and Investors, by operating with precision – this means being fiscally disciplined in our due diligence, rigour, and deal structuring and providing continued risk adjusted returns to our Investors.
We have experienced tremendous growth over the past few years, and we are excited to see what 2022 has to offer. It is not lost on us, however, that we are who we serve, and that is you, our Investors and Developer Partners. Thank you for the continued support, and we look forward to building on our great start in 2022!
Best to you and your families,
Executive Vice President
Watch our latest DealTalk featuring 131 King Street, a contemporary 31-storey residential building in London, Ontario. Developed by York Developments and designed by Zedd Architecture, the 266 unit purpose-built rental building with ground floor retail space is a welcome addition to this vibrant location across Covent Garden Market in downtown London. Our creative end-to-end financing solutions through multiple phases of this project included a $3.75M land loan, and $84M for construction financing, which facilitated in bringing this new rental community to life.
We are excited to unveil the new Cameron Stephens website, your destination for mortgage financing solutions and portfolio diversification. Sophisticated, robust and easy to navigate, we wanted the new website to reflect the evolution and growth of our firm. Interactive maps, DealTalk videos and the latest Toronto Under Construction podcast are all available for you to browse, along with investment opportunity information and our full suite of services. Like our bespoke financing solutions, this site was BUILT FROM THE GROUND UP!
Cameron Stephens Mortgage Trust (“CSMT”) offers a unique opportunity for accredited high net worth investors to participate in primarily first position residential and commercial mortgages on high profile development and construction projects across Canada.
Attractive Target Return of 8%* Annualized, Net of Fees
Opportunity to Co-Invest in Equal Priority with CSMC's Other Investment Vehicle for High Net Worth Investors
Low Correlation with Public Markets (CSMT is a Private Fund with a Unit Price that is Intended to Remain Fixed at $10)
Provides Portfolio Diversification Due to Real Estate Being an Alternative Asset Class
Benefit from CSMC's Proven Track Record in Originating, Underwriting and Managing Mortgages
Registered Plan Eligible
*This is a target return. The actual return cannot be guaranteed.
Senior Vice President, Finance
We are pleased to welcome Michael Sheehan to our management team, who joined us in 2022 as Senior Vice President, Finance.
Michael Sheehan is responsible for finance, accounting, investor relations and technology. Michael has over a decade of real estate and banking experience focused on finance, accounting and compliance. Prior to joining Cameron Stephens, Michael was Chief Financial Officer for Slate Office REIT, a TSX listed company, where he oversaw all aspects of corporate finance, financial planning & analysis, financial reporting and debt management. Before his time at Slate Office REIT, Michael was Senior Manager at Ernst & Young LLP. Michael is a CPA, CA and holds an Honours Bachelor of Accounting degree from Brock University.
The Borrower entered into an agreement to purchase the site for $12.5MM. We received approval for a $12MM 1st mortgage land loan to assist in the acquisition of the site by registering a $4MM 2nd mortgage charge on two other properties owned by the Borrower, which we already arranged 1st mortgage financing for.
Cameron Stephens funded a $40MM 1st mortgage land loan for a multi-phase residential development site in London, ON. CSMC was able to proactively provide refinancing of a competitors’ loan in addition to providing an $18MM equity take-out, allowing the client to advance the different phases of the project and invest in new opportunities. Not only was the loan supported in less than a month, but it also provided a very competitive interest rate.
CSMC was able to quickly identify the value in the land and provide the Borrower with a loan structure and term that will allow them to continue to advance what is an exciting new development.