Insights
Saeid Khan May 15, 2024
Insights

Canada ICI Expands Toronto Operations by Welcoming Lorne Capital Team

Toronto, ON (May 23, 2024)—Canada ICI Capital Corporation (Canada ICI) is thrilled to announce a substantial acquisition for its Toronto office. 

Effective June 1, 2024, Canada ICI will acquire the team from Lorne Capital, commercial real estate finance company based in Toronto. This strategic acquisition marks a pivotal step in Canada ICI’s commitment to strengthening its market position and delivering high-quality commercial real estate finance solutions across Canada.

The acquisition marks a major step forward in scaling its national platform and reach. Canada ICI’s focus will remain on expanding its strong market share in the CMHC-insured space, and the addition of the Lorne Capital team will further its reach and service offering to all CMHC-insured borrowers. The Lorne Capital team is committed to upholding the shared values of a collaborative culture that nurtures long-term growth. 

“Being acquired by Canada ICI is a strategic evolution on our part, aligning with a partner that shares our values and enhances our capabilities,” says Mackenzie Myles, CEO of Lorne Capital. Managing Partner at Lorne Capital, Brody Cross, says the acquisition “amplifies our offerings and solidifies the commitment to our clients by partnering with an industry leader.”

For Canada ICI, the acquisition of Lorne Capital represents a strategic alignment of expertise and culture that will significantly benefit clients in the Toronto market.

“This acquisition is not just about expanding the team; it’s about enriching the service offering and deepening the impact we can make for our clients,” remarks Rick Bachalo, President of Canada ICI.

The Lorne Capital team is renowned for its comprehensive understanding of Ontario’s commercial real estate market and its expertise in arranging high-quality loan opportunities, which benefit both borrowers and lenders.

By leveraging Canada ICI’s data, platform, and national brand, this collaboration will establish institutional quality loan opportunities and continue to foster enduring partnerships.

“The goal has always been to lead with innovation and integrity, and the addition of Lorne Capital’s team is a testament to this,” stated Saeid Khan, Vice President at Canada ICI. “Their expertise will be instrumental as we continue to drive value in the commercial mortgage financing landscape in Eastern Canada.”

“With a combined legacy of hard work and collaborative success, the expanded Toronto team is poised to deliver exceptional results,” added Rick Bachalo. “We are enthusiastic about the future and the opportunities this relationship will unlock.”

For more information on Canada ICI and its services, visit www.canadaici.com.

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About Canada ICI Capital Corporation 

Canada ICI Capital Corporation is a CMHC-approved Lender and one of the country’s leading commercial real estate finance firms, annually arranging financing in excess of $9 billion through its offices in Toronto, Montréal, Vancouver, Calgary, Edmonton, Ottawa, and Winnipeg.

About Canada ICI Origination

Canada ICI is one of Canada’s largest mortgage origination platforms, sourcing and structuring high-quality commercial mortgages. As an origination firm with a national footprint, CICI is at the forefront of Canada’s commercial real estate market, funding over three loans every business day of the year. Canada ICI is always in the market, giving borrowers unparalleled access to capital and lenders a consistent volume of high-quality loan opportunities.

About Canada ICI Asset Management Group

Canada ICI’s AMG group provides loan servicing clients with an end-to-end solution to grow and scale a high-quality commercial mortgage portfolio. AMG’s key strength is underpinned by decades of mortgage management and servicing experience protocols and offers solutions designed to meet the unique needs of discerning institutional investors.

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