Insights
Rick Bachalo July 19, 2021
Insights

CICI Expertise and Competency Expand to Montréal

The acquisition of the former MFCI Capital office in Montréal allows Canada ICI Capital Corporation to hit the ground running in Quebec with expertise proven in the Canadian commercial real estate market, and with deep relationships in Montréal that go back over three decades.

These deep relationships, forged over years of transactions, include dealings with the most active developers in the Montréal marketplace. This acquisition means that Canada ICI’s borrower clients will have their loans put on the top of the pile by lenders. Borrowers and lenders alike will benefit from the service and support provided by the newly-acquired Montréal office, the same market-specific expertise delivered in other regions served by CICI.

The Montréal market is not new to the Canada ICI team.  In a recent interview, Canada ICI’s president Rick Bachalo cited creative deals previously executed by Canada ICI in Montréal. Some of the firm’s latest development loans supported the conversion of a seniors’ residence into multifamily; construction of two industrial buildings, totalling 325,000 square feet and built on spec; and the building of a 12-storey apartment project in St. Laurent. “These three developments fall into the go-to asset classes in Montréal, as well as in the rest of Canada,” says Rick.

Canada ICI recently completed the funding of two large spec-built industrial construction loans located in Montréal.

Rick Bachalo sees how Canada ICI’s continued expansion into diverse Canadian markets like Montréal will benefit the firm’s borrower and lender clients, as well as the CICI team. He puts it this way: “As we continue to grow, client success combined with team member enthusiasm will drive CICI’s long-term financial performance.”

The Montréal office is headed by Thomas Marcantonio. He and Dale Klein, Canada ICI’s CEO, go back a long way. Over three decades ago, the two became colleagues when Dale joined the same real estate company Thomas worked for. Dale and Thomas engaged in friendly competition in those days, driving each other to improve their individual performance. Even as the companies they worked for evolved, they kept in touch and in 1997, Dale and Thomas teamed up again under the umbrella of the Canada ICI Capital Corporation.

Rick Bachalo and Thomas Marcantonio have a lot in common, too, with experiences that will foster the growth of Canada ICI as its young and vibrant team expands into the Montréal market.

“Tom and I both have over 35 years invested in the real estate industry. We’ve ridden that roller coaster, working through several cycles in Canada. We both come from a lender’s background and have more recent experience with mortgage brokerage, so we can empathize with borrowers and lenders. Tom and I understand their policies, guidelines, and credit committees.”

Rick Bachalo describes Thomas Marcantonio’s business dealings as prudent, strongly managed, and strategically thought out.

“Tom’s business foundation is built on trust and integrity. He’s an astute investor with a sharp business mind. He knows real estate from buying and selling, not only from a financing perspective, but from the equity side, too.”

CICI’s president welcomes the youthful vitality that Thomas has encouraged in his Montréal office. Like the rest of Canada ICI’s team across the country, Thomas Marcantonio’s Montréal office nurtures fresh talent and progressive ideas.

 

Tom and his energetic team are an excellent addition. Their values closely align with the core values of the greater Canada ICI team. That’s crucial.

Rick Bachalo acknowledges how these shared values, including a commitment to fostering new talent, will propel CICI forward into the Quebec commercial real estate market. He adds, “The integration of Montréal with Canada ICI is a strategic and disciplined approach to growth, plain and simple, full stop.”

Canada ICI Capital Corporation’s borrower and lender clients need diverse, high-quality loan opportunities. The Montréal acquisition allows the CICI team to provide these opportunities within Quebec’s unique market.

Banner photo by Matthias Mullie on Unsplash

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