Cameron Stephens Mortgage Capital

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Toronto, ON
Cameron Stephens Mortgage Capital

Leading non-bank lender in Canada in commercial mortgages and land, development, construction, mezz, & inventory loans.

Cameron Stephens Mortgage Capital is a leading non-bank institutional Real Estate Lender providing innovative financing solutions to our borrowers, and consistent risk-adjusted returns to investors. Founded in 2004, we have grown from a small private lender with $30 million under management, to an institutional lender with over $1 billion funded in land, development and construction loans. Current

ly, we manage over $400 million of institutional capital and $150 million in private capital. As a non-bank institutional lender, our mission is to underwrite and manage commercial mortgage investments that deliver fair, appropriate solutions to our borrowers, and first-class asset management to our investors. Our exceptional underwriting strategies are based on in-depth knowledge of real estate values, prudent lending practices, and regular monitoring of each loan’s performance. Each Cameron Stephens deal is subject to rigorous analysis that includes independent property inspections and appraisals, cost consultancy, environmental reports and a clearly-defined exit strategy.

09/03/2026

We are pleased to announce that Nate Larsen has joined Cameron Stephens as Vice President, Origination, based in Victoria, British Columbia.

In this role, Nate will originate and structure commercial mortgage transactions across a broad range of asset classes, while building and developing the firm's origination platform and lending portfolio across Western Canada and Ontario.

He brings more than a decade of commercial real estate finance experience, having originated and advised on more than $1 billion in commercial mortgage transactions spanning conventional and CMHC-insured construction, term, and bridge financing. Throughout his career, he has worked closely with developers, investors, and institutional capital partners to structure and execute complex transactions, pairing an entrepreneurial approach to origination with disciplined underwriting and credit alignment.

Beyond origination, Nate has a track record of building and developing high-performing teams, and brings a hands-on, mentorship-driven leadership style to growing Cameron Stephens' team in Western Canada.

"Cameron Stephens was recently approved as a CMHC lender, and adding someone with Nate's depth of CMHC-insured lending experience gives us instant credibility and lending velocity in this asset class. We are always looking for top talent, and Nate is exactly the right business driver and culture fit for Cameron Stephens." – Riccky Dasgupta, Senior Vice President, Managing Director

"I've admired Cameron Stephens' growth, clientele, and reputation for the past decade and watched the platform build into what it is today. I'm delighted to be joining this team." – Nate Larsen, Vice President, Origination

Nate's appointment reflects the firm's continued investment in its origination platform across Western Canada and Ontario. Western Canada has emerged as one of Cameron Stephens' primary growth pillars, with the region's deployed capital up nearly 46% year-to-date and platform AUA now approaching $800 million. Cameron Stephens currently manages nearly $4 billion in assets under administration firmwide.

Please join us in welcoming Nate to the Cameron Stephens family.

08/31/2026

Cameron Stephens Mortgage Capital (CSMC) is proud to announce the funding of a $37.5 million fixed-rate, interest-only 1st mortgage bridge loan for the acquisition of a 146-unit purpose-built rental apartment building in Scarborough, Ontario. Structured at 89% of the purchase price, the financing recognized the property's long-term value and future upside while minimizing the Borrower's upfront equity requirement.

Secured by a modern multifamily asset of approximately 125,000 SF, the transaction called for a capital solution that looked beyond in-place cash flow to the property's underlying fundamentals and value-creation potential. CSMC delivered a facility that provided acquisition certainty, preserved capital for future investment in the asset, and positioned the property for a future CMHC-insured takeout.

WHY IT MATTERS:

✅ Creating Value Through Vision. CSMC structured financing around the property's long-term potential, not just its current operating performance.

✅ Preserving Capital for Growth. A low upfront equity requirement freed the Borrower to invest in improvements and operational initiatives that strengthen the asset over time.

✅ Certainty Today, Flexibility Tomorrow. The fixed-rate, interest-only structure locked in ex*****on at acquisition and set a clear path to a future CMHC-insured refinancing.

Real estate opportunities like this one require creative structuring and a clear understanding of underlying value. It's an approach CSMC applies across our lending platform.

Eric Sapir, Senior Director, Origination, Mortgage Agent Level 1

Cameron Stephens Mortgage Capital Ltd. is licensed as a mortgage brokerage (Lic #10769) and administrator (Lic #11807) in Ontario.

08/19/2026

About 18 months ago, we refreshed our core values by identifying the qualities and behaviours consistently demonstrated by some of our most successful employees. Our Senior Leadership Team took the time to reflect on what drives success at Cameron Stephens and the characteristics that help individuals thrive in our entrepreneurial and high-performance environment.

If these values resonate with you, we encourage you to explore opportunities with us by sending your resume to [email protected].

✅ AUTHENTICITY
You are genuine, transparent, and trustworthy. You build strong relationships by being yourself and doing what you say you will do.

✅ RESPECTFULLY CONFIDENT
You are confident in your abilities and ideas, while remaining humble, collaborative, and open to different perspectives.

✅ LOYALTY
You care about the success of your team, clients, and organization. You are dependable, supportive, and committed to building long-term relationships.

✅ URGENCY
You take action, move quickly, and follow through. You understand the importance of responsiveness and delivering results in a fast-paced environment.

✅ ENTREPRENEURIAL MINDSET
You think like an owner. You take initiative, embrace accountability, look for opportunities to improve, and are willing to roll up your sleeves to get things done.

✅ INTELLECTUAL CURIOSITY
You are eager to learn, ask thoughtful questions, challenge conventional thinking, and continuously seek better ways to solve problems and create value.

08/10/2026

Cameron Stephens Mortgage Capital (CSMC) is proud to announce the funding of an $89.4 million 1st mortgage acquisition term loan secured against Millennium Tower, a 23-storey Class AA office tower encompassing 440,703 SF in the heart of Calgary's Central Business District. This transaction stands as one of the most significant closings to date for our Western Canada team.

THE CHALLENGE: FINANCING UNDER TIGHT TIMELINES

The Borrower required a quick close to accommodate the vendor-led sale of the asset. With limited time to execute, the Borrower needed a capital partner that could move swiftly while offering flexibility and competitive pricing.

THE SOLUTION: TAILORED TERM FINANCING WITH SPEED AND FLEXIBILITY

CSMC delivered a 36-month term facility with competitive pricing and a leverage profile tailored to the transaction, enabling the Borrower to close on the asset within the window of time allotted. The loan structure allowed for excess cashflow recoupment, provided certain DSCR metrics held steady, along with flexibility tied to prepayment options.

CSMC delivered a commitment and funding on an accelerated timeline, giving the Borrower a high degree of ex*****on certainty when it mattered most. The transaction highlights our deep expertise in the office sector and our ability to structure solutions that meet borrower needs in a tightening credit environment.

This closing marks a milestone for our growing Western Canada platform. It reflects the strength our Alberta team has built in the market and our continued focus on new borrower relationships, supported by customized, flexible lending solutions that lay the foundation for long-term partnership.

MEET THE TEAM BEHIND THE DEAL
Roman Rogatko, Vice President, Origination
Phillip Seu, Associate, Origination

Cameron Stephens Mortgage Capital Ltd. is licensed as a mortgage brokerage (Lic #10769) and administrator (Lic #11807) in Ontario.

07/23/2026

We're proud to announce the introduction of our new Parental Top-Up Benefit at Cameron Stephens.

Supporting employees through important life moments is an important part of creating a workplace where people can thrive both professionally and personally. This new benefit is designed to provide additional support to employees as they welcome a new child and grow their families.

As a growing organization, we're committed to continually investing in programs and benefits that enhance the employee experience and reflect what matters most to our team.

07/17/2026

We're incredibly proud to have been recognized as a Great Place to Work® for the second consecutive year.

When we first embarked on this journey, our objective was simple: listen to our employees.

Over the past two years, we've used employee feedback to guide meaningful improvements across training and development, communication, benefits, recognition, and overall employee experience.

The feedback we receive continues to shape where we focus next, and we're excited about what lies ahead.

Thank you to our employees for sharing their honest perspectives and helping us build an even better workplace together.

07/16/2026

We're excited to announce that Pavel Philippov has joined our team as Senior Director, Commercial Mortgage Origination, based in our Vancouver office.

In his new role, Pavel will focus on sourcing, structuring, and closing new commercial real estate financing opportunities across Western Canada, while building strong relationships with brokers, developers, and borrowers to support our continued growth in the region.

Pavel brings more than a decade of experience in real estate finance to the team. He joins us from Trez Capital, where he served as Associate Vice President, Canadian Origination, originating and underwriting complex debt and equity transactions across a wide range of asset classes. Earlier in his career, he built his foundation at Hungerford Properties, progressing from accounting into asset management.

Pavel is a CPA, a CFA charter holder, and holds a Mortgage Sub-Broker license in British Columbia - a strong combination of origination expertise, underwriting discipline, and strategic relationship management that will be a great asset to our Western Canada team.

Please join us in giving Pavel a warm welcome to Cameron Stephens!

07/08/2026

Deal of the Week 61 - Cameron Stephens Mortgage Capital Ltd. ("CSMC") is pleased to announce the funding of a $64,000,000 first mortgage construction loan for the development of two Class "A" industrial buildings totalling 384,377 SF NLA in Southwestern Ontario, purpose-built for cold storage and logistics, with clear heights ranging from 36 to 55 feet.

THE CHALLENGE:
Large-format industrial construction financing remains difficult to source outside major urban centres. Traditional lenders operate within conservative leverage parameters and defined structuring frameworks, which can constrain flexibility in arranging syndicated A/B loans at scale.

THE SOLUTION:
The Sponsor secured 68% pre-leasing across four tenants prior to construction, strong validation of the site's location and Southwestern Ontario's industrial demand fundamentals. CSMC structured and syndicated the $64M facility on a 24-month, interest-only basis, delivering 75% LTC on a well-leased development. This deal reflects CSMC's ability to underwrite complex industrial construction financing and deliver large-format capital with ex*****on certainty, backed by deep structuring expertise and established syndication relationships.

In a market where construction financing has become harder to source, more expensive, and slower to execute, CSMC delivered.

Meet the Team Behind the Deal:
Joel Apostolon, Senior Director, Origination, Agent Level 2
Marko Sijakovic, Vice President, Syndication, Agent Level 1
Ramyar Satarzadeh, Associate, Origination, Agent Level 1

* Cameron Stephens Mortgage Capital Ltd. is licensed as a mortgage brokerage (Lic #10769) and administrator (Lic # 11807) in Ontario. www.cameronstephens.com

07/02/2026

At Cameron Stephens, we believe that meaningful connections help build stronger teams and stronger careers.

This year, we launched our quarterly Women's Connection Series, creating an opportunity for the women across our organization to connect outside of their day-to-day responsibilities, build relationships, share experiences, and support one another.

Our inaugural event brought the group together for a cooking class, and we're excited to continue the momentum with our upcoming Sip & Paint Night.

As we continue to grow, we're committed to creating spaces where employees can build authentic connections, expand their networks, and foster a sense of community.

06/26/2026

Deal of the Week 60 - Cameron Stephens Mortgage Capital (CSMC) recently funded a $27.2 million first mortgage acquisition term loan secured against a Class A, 27-storey office building encompassing 351,299 SF in Edmonton, Alberta.

The Challenge: Financing Under Tight Timelines

The borrower required a quick close to accommodate a time-sensitive vendor-led transaction. Speed was non-negotiable: they needed a capital partner who could move with conviction while maintaining flexibility and competitive pricing.

The Solution: Tailored Term Financing Built Around the Borrower

CSMC structured a 36-month term facility at competitive leverage and pricing, enabling the borrower to close within the required window. The loan also incorporated an excess cashflow recoupment feature, provided certain DSCR thresholds were maintained, giving the borrower additional capital to reinvest in building enhancements post-acquisition.

Why It Matters:
☑️ Speed to Close: Commitment and funding delivered within an accelerated timeline, without compromising structure or pricing.
☑️ Market Conviction: CSMC remains an active and confident lender in the Alberta office market, where we see real opportunity for experienced operators with the right assets.
☑️ Structured Creativity: The cashflow recoupment feature reflects our ability to design financing solutions that go beyond the term sheet, giving borrowers tools to create value after close.

MEET THE TEAM BEHIND THE DEAL
Roman Rogatko, Vice President, Origination
Kyle Yatabe, VP Syndication
Phillip Seu, Associate, Origination

www.cameronstephens.com

Address

320 Bay Street, Suite 1700
Toronto, ON
M5H4A6

Website

http://www.cameronstephens.com/

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