Latest news with #CameronStephens
National Post
12-06-2025
- Business
- National Post
Cameron Stephens Expands Western Canada Team with Appointment of Gabe Chung as Vice President, Origination
Article content VANCOUVER, British Columbia — Cameron Stephens Mortgage Capital Ltd.* ('CSMC') is pleased to announce the appointment of Gabe Chung as Vice President, Origination – Western Canada. Based in the firm's Vancouver office, Gabe will be responsible for originating commercial real estate loans across various asset classes and strengthening CSMC's client relationships and brand presence throughout the region. Article content Gabe joins CSMC with more than 20 + years of experience in commercial real estate lending. Most recently, he served as Managing Director at National Bank of Canada, where he led the launch of the bank's Real Estate centre in Vancouver and originated several billion dollars in debt lending. He also played a pivotal role in mentoring and developing real estate talent nationwide. Prior to that, he spent 13 years with Royal Bank of Canada in progressively senior roles within real estate and commercial banking. Article content 'At Cameron Stephens, we're building a team of the best and brightest — individuals who not only bring deep experience, but also the professionalism, integrity, and relationships that define trusted leadership in our industry,' said Riccky Dasgupta, Senior Vice President & Managing Director, Mortgage Unit. 'Gabe is widely respected in the Western Canada market. He understands our business, knows what clients need, and embodies our culture of disciplined growth and professional excellence.' This announcement follows the recent launch of the Western Canada High Yield Mortgage Fund, a $70 million infusion of strategic capital into the region, backed by Western Canadian real estate family offices and Cameron Stephens' flagship Bay Street High Yield Fund. The fund is now active and committing capital into high-quality commercial mortgage opportunities across Alberta and British Columbia. Article content Gabe's appointment further strengthens Cameron Stephens' expansion strategy in Western Canada, where the firm has grown to over $550 million in assets under administration in just four years. Article content Gabe holds an MBA from Simon Fraser University's Beedie School of Business and a Bachelor of General Studies from the same institution. He has been recognized numerous times throughout his career for his outstanding contributions and performance. Gabe is currently licensed as a Submortgage Broker in British Columbia. Article content About Cameron Stephens Article content Founded in 2004, Cameron Stephens is a leading Canadian real estate investment firm with nearly $4 billion in assets under administration. Cameron Stephens offers institutional and private investors strategic opportunities to invest in commercial real estate with consistent returns. The firm specializes in mortgage solutions through Cameron Stephens Mortgage Capital for developers across Canada. Established in 2021, Cameron Stephens Equity Capital provides equity opportunities for high-quality and strategically positioned developments. Article content Article content Article content Article content
Business Wire
12-06-2025
- Business
- Business Wire
Cameron Stephens Expands Western Canada Team with Appointment of Gabe Chung as Vice President, Origination
VANCOUVER, British Columbia--(BUSINESS WIRE)--Cameron Stephens Mortgage Capital Ltd.* ('CSMC') is pleased to announce the appointment of Gabe Chung as Vice President, Origination – Western Canada. Based in the firm's Vancouver office, Gabe will be responsible for originating commercial real estate loans across various asset classes and strengthening CSMC's client relationships and brand presence throughout the region. Gabe joins CSMC with more than 20 + years of experience in commercial real estate lending. Most recently, he served as Managing Director at National Bank of Canada, where he led the launch of the bank's Real Estate centre in Vancouver and originated several billion dollars in debt lending. He also played a pivotal role in mentoring and developing real estate talent nationwide. Prior to that, he spent 13 years with Royal Bank of Canada in progressively senior roles within real estate and commercial banking. 'At Cameron Stephens, we're building a team of the best and brightest — individuals who not only bring deep experience, but also the professionalism, integrity, and relationships that define trusted leadership in our industry,' said Riccky Dasgupta, Senior Vice President & Managing Director, Mortgage Unit. 'Gabe is widely respected in the Western Canada market. He understands our business, knows what clients need, and embodies our culture of disciplined growth and professional excellence.' This announcement follows the recent launch of the Western Canada High Yield Mortgage Fund, a $70 million infusion of strategic capital into the region, backed by Western Canadian real estate family offices and Cameron Stephens' flagship Bay Street High Yield Fund. The fund is now active and committing capital into high-quality commercial mortgage opportunities across Alberta and British Columbia. Gabe's appointment further strengthens Cameron Stephens' expansion strategy in Western Canada, where the firm has grown to over $550 million in assets under administration in just four years. Gabe holds an MBA from Simon Fraser University's Beedie School of Business and a Bachelor of General Studies from the same institution. He has been recognized numerous times throughout his career for his outstanding contributions and performance. Gabe is currently licensed as a Submortgage Broker in British Columbia. About Cameron Stephens Founded in 2004, Cameron Stephens is a leading Canadian real estate investment firm with nearly $4 billion in assets under administration. Cameron Stephens offers institutional and private investors strategic opportunities to invest in commercial real estate with consistent returns. The firm specializes in mortgage solutions through Cameron Stephens Mortgage Capital for developers across Canada. Established in 2021, Cameron Stephens Equity Capital provides equity opportunities for high-quality and strategically positioned developments. Leveraging deep market expertise and strong industry partnerships, Cameron Stephens is recognized as a key player in Canada's real estate investment landscape, delivering sustainable growth and financial success. For more information, visit *Ontario Mortgage Brokerage License #10769 and Administrator License #11807.
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Builders taking on more debt as some in residential sector struggle
New Bank of Canada data show that Canada's chartered banks doubled the debt they have extended to real estate developers and builders in the last year, raising outstanding loan commitments to an unprecedented $85-billion. The data reflect the financial standing from the first quarter of 2025, and the largest growth area of new lending comes from a subcategory called 'interim construction lending' that rose to $32.9-billion, up 383 per cent from $6.8-billion in the same quarter in 2024. Interim lending spiked to $25-billion in the second quarter of 2024 and has been above $30-billion for three quarters now. The latest number is the highest ever recorded by the Bank of Canada (which began tracking interim lending in 1994), and is more than double the previous record of $16.2-billion in the second quarter of 2022. Industry experts say there are several factors contributing to this new leverage. Among them are a large number of residential real estate developers that have overextended themselves and taken interim loans – which are often more expensive than longer-term financing – as they attempt to resolve stalled projects. 'What everyone was doing was trying to recapitalize all their debt to a number where they could at least hold on,' said Steve Cameron, president and chief operating officer with Cameron Stephens Mortgage Capital Ltd., which specializes in 'mezzanine' or interim real estate lending, with $4-billion under management. 'It was this chaotic run to the noninstitutional lender for as much leverage as they can hold on, as tight as they can, while this market corrects.' Mr. Cameron describes his fund and the banks as risk-averse. He said many lenders were caught off guard by the erosion of value in the condominium space, which has changed the underwriting math in many cases. 'They are very conservative, and on a lot of deals [the banks] were at 50-60 per cent loan-to-value (LTV). Now, they are waking up and saying 'Wow, these are actually more like 90-95 per cent LTV,'' he said. The sheer scale of the lending could pose a risk, according to Fred Cassano, national real estate leader and partner at PwC Canada. 'The banks and other lenders have a much larger exposure to the real estate development market – more so than in previous years. If more projects run into trouble, bankers could face higher default rates and potential losses,' he said. 'I think it is concerning; we're starting to see a few more distressed situations. I wouldn't be surprised if we're going to start seeing more.' Condos in Toronto region headed for a crunch as fewer start construction Despite this growth in debt Shalabh Garg, real estate and banking analyst with Veritas Investment Research, doesn't believe Canada's largest banks face systemic risk, not least because of the size of their overall loan books. 'The exposure at all the big banks is less than 1 per cent, except for National Bank – that's 4 per cent,' said Mr. Garg. He said disclosures from the big six banks show they hold about $30-billion of those development loans (Royal Bank of Canada has the largest dollar volume at about $13.9-billion). 'In my view, it's very manageable. If they write down that total book it will have some impact, but it's not going to lead to a decline in earnings per share,' he said. Some new debt may also be aimed at assets that have growth potential, not just propping up stalled projects. 'Interim isn't just capturing residential. You can also fit interim lending into trying to improve your shopping centre,' said Christopher Wein, chief operating officer for Equiton Developments Inc. He said there's been just as much growth in retail and industrial commercial real estate borrowing as in residential in recent quarters. 'Coming off the downward pressure on retail from COVID, a lot was either de-tenanted or left not in the best state. Large retail is saying, 'Let's do some construction around our retail and bring it back up to Class A.' I think there's a lot of creativity happening right now – especially in retail. People thought it was a dying asset class, [but] people innovate during down times. And banks are forward-looking: If they are increasing their lending and increasing their exposure, they see tailwinds are coming. Otherwise, it doesn't make sense.' A sign of slowing new home construction: builders buying less land According to Mr. Cameron, there are essentially two camps in residential development: those buying time with interim lending because they think the current market is a blip that could resolve in a year or two, and those who think it's a longer, more structural problem. 'Unfortunately, as far as I'm concerned, this is not a blip: this is a complete reset. It might be five years, it might be 10 years, but the condo market will probably not come back the way it was,' he said. The hardest group to convince may be land developers, which Mr. Cameron describes as an almost genetically optimistic group. 'A lot of our clients, they are coming to the realization slowly that things have changed. It's a tough conversation to convince them that their $10-million investment is worth zero.' Short of some difficult conversations with overextended residential developers, and possibly writedowns on non-performing loans, others believe there's still a way for the market to pull up, but likely only with political intervention. 'The government really needs to step in to get construction going again. Once construction starts, then you can refinance and pay off the interim lending,' said Mr. Cassano. 'Right now, no one's doing anything, and that's the worst thing that's happening. No one is breaking ground because the numbers don't work.'
Cision Canada
04-06-2025
- Business
- Cision Canada
Cameron Stephens Secures $70 Million in Capital Commitments and Launches Western Canada High Yield Fund, Accelerating Regional Growth
VANCOUVER, BC and TORONTO, June 4, 2025 /CNW/ - Cameron Stephens Mortgage Capital Ltd. ("Cameron Stephens") is pleased to announce the successful launch of the Western Canada High Yield Mortgage Fund ("Fund"), focused on real estate secured lending across Western Canada. The newly launched Fund represents $35 million in commitments from Western Canadian real estate family offices. This amount has been matched by a $35 million allocation from Cameron Stephens' flagship "Bay Street High Yield Fund", bringing the total capital pool to $70 million. The Fund is now active and committing capital into high-quality commercial mortgage opportunities across Alberta and British Columbia. This milestone is a key pillar in Cameron Stephens' ongoing expansion strategy in Western Canada, where the firm has grown to over $550 million in assets under administration in just four years. "The Western Canada High Yield Mortgage Fund builds on the long-term success of our existing Bay Street High Yield Fund," said Steve Cameron, President and Chief Operating Officer. "This new vehicle allows us to deliver capital faster and with more flexibility in Western Canada, while drawing on deep local insight from our newly formed Western Canada Investment Committee—comprised of some of the most sophisticated real estate family offices in the region. Their involvement gives us a strategic advantage when it comes to originating mortgages, adjudicating credit, and underwriting market risk with precision." "At Cameron Stephens, we believe in alignment and partnership," said Brad Wise, Senior Vice President & Managing Director, Western Canada. "We're proud to have brought together a group of highly respected and experienced Western Canadian real estate families to support this strategy. Their participation not only capitalizes the Fund but brings invaluable regional knowledge to our Western Canada operations." The Fund is modeled after Cameron Stephens' Ontario-based flagship Bay Street High Yield Fund launched in 2004, which has delivered net annualized returns of 11.4% since inception. The Fund investors will benefit from access to a broad array of mortgage investment opportunities alongside the Bay Street High Yield Fund, delivering a portfolio composition designed to offer diversification across location, mortgage type, and asset class in Western Canada. Scott Cameron, Chief Executive Officer, Cameron Stephens, concludes, "When we founded the Bay Street High Yield Fund 20 years ago, our goal was to offer investors consistent, superior risk-adjusted returns. It's incredibly rewarding to see that same platform fueling growth in Western Canada." About Cameron Stephens Founded in 2004, Cameron Stephens is a leading Canadian real estate investment firm with nearly $4 billion in assets under administration. Cameron Stephens offers institutional and private investors strategic opportunities to invest in commercial real estate with consistent returns. The firm specializes in mortgage solutions through Cameron Stephens Mortgage Capital for developers across Canada. Established in 2021, Cameron Stephens Equity Capital provides equity opportunities for high-quality and strategically positioned developments. Leveraging deep market expertise and strong industry partnerships, Cameron Stephens is recognized as a key player in Canada's real estate investment landscape, aiming to deliver sustainable growth and financial success. For more information, visit
Yahoo
24-05-2025
- Yahoo
Guilty verdict in Hurricane Harbor murder trial after gang, self-defense claims
Nearly every element of a group fight near the inner gate at Six Flags Hurricane Harbor was in radical dispute at a murder trial this week. There was no consensus on who threw the first punch at the Arlington water park at closing time on a June evening in 2021. No one could agree on whether the brawl of as many as nine young men was limited to fists or if its participants were also kicking and stomping. Perhaps most critical, there were varied accounts on whether one gunshot or multiple shots were fired during the fray. It is clear, however, that at the close of a day of teenage jubilance spent flirting with girls, at a wave pool and on water slides, Dai'trell Teal was shot once by a bullet that entered his back. The projectile traveled in his body from right to left, back to front as it pierced his esophagus and left a gaping hole in his aorta, causing the 16-year-old to bleed to death as he laid on a raised plant bed. The Tarrant County Criminal District Attorney's Office concluded that Teal was not a gang member and was not involved in the fight immediately before the shooting. The defense did not concede that Teal was not in the fight and suggested Teal left the park with at least one documented gang member. Teal was, prosecutors Lloyd Whelchel and Kobe Landry argued, wholly innocent. The defendant, Cameron Stephens, was trying to shoot another teenager named Davion Williams, but shot Teal instead, the prosecutors argued to the jury at Stephens' murder trial in a state district court in Tarrant County. 🚨 More top stories from our newsroom: → Fort Worth ISD board approves plan to close 18 schools → TCU student murder case moves toward trial → Mansfield ISD board approves superintendent's contract [Get our breaking news alerts.] The killing occurred as one gang member attempted to shoot another, the prosecutors suggested. Stephens was not, according to Irving police, a documented gang member, but he was associated with APE or After Paper Everyday, a subset of YIC, or Youngins In Charge. YIC is a rival of 2200, a gang of which Williams is a member, authorities said. 'He wasn't in the fight, and he was the guy that got killed,' Landry argued of Teal, who had just finished his sophomore year at Martin High School. The jury's instructions included an advisory on transferred intent, a principle, when applied to murder, that a person is guilty if they cause the death of a person while intending to cause the death of a different person. After a six-day trial, a jury in Criminal District Court No. 3 on Friday found Stephens guilty of murder and assessed his punishment at 40 years in prison. The jury was directed to consider a prison term of five to 99 years, or life. Appointed defense attorney Kathy Lowthorp asked the panel to assess a term at the lower end of the range. Whelchel requested a life term of the jury. Stephens will become eligible for parole after he serves 20 years. Lowthorp, who represented Stephens with defense attorneys Cami Gildner and Shelby Barrett, argued that the killing was justified by self-defense or defense of a third party, Stephens' half brother, who was in the fight when the defendant fired. Stephens, from the witness stand, on Wednesday testified that he was himself afraid and was in fear for his half brother. Stephens testified that, as he was being beaten, he went to his car to get a gun he left under a seat, heard a pop elsewhere and fired once, aiming above the fighting group. Stephens admitted that after firing the gun, he drove from the scene and left the gun in a dumpster. Police did not find the weapon. Stephens testified that he regretted getting rid of the gun because, he suggested, a toolmark examiner could have conducted a test that may have shown that the bullet pulled from Teal's body during an autopsy was not fired from the defendant's gun. 'He didn't do it, but if he did do it, it's self-defense,' Whelchel summarized his assessment of the defense argument in the state's closing. This is a developing story. For the latest updates, sign up for breaking news alerts.
