The Open Waters of Opportunity: Meet the Talented Maritimers Who Are Captaining Canada ICI in Atlantic Canada

Like the rest of the country, commercial real estate financing is evolving rapidly in Atlantic Canada. As developers and property owners navigate the complexities of securing capital for new projects, many find themselves faced with a critical question: Where do we find the right financing partner to help us grow?

For years, Canada ICI has been at the forefront of commercial mortgage origination, servicing borrowers nationwide with unparalleled expertise. With the opening of a new physical office in Halifax, Canada ICI is taking a formalized step forward in Atlantic Canada, assembling a local team of seasoned financial professionals to guide borrowers through the unique challenges of this dynamic region. According to a Saeid Khan, Vice President, Origination & Strategic Initiatives, “Opening a Halifax office was part of our long-term strategy to expand our footprint and reach in the Atlantic region, where we saw a growing demand for our services and solutions.”

A New Era in Atlantic Canadian Real Estate

Atlantic Canada has often been overlooked by the major financial institutions. Borrowers here face a unique set of challenges, from capital scarcity to the dominance of very successful family-owned businesses. Navigating this market requires local knowledge, deep relationships, and the ability to connect borrowers with diverse capital markets. Relationships seem to matter more here than in other markets, and “doing a deal” is far from transactional.

That’s why Canada ICI’s decision to launch its Atlantic Canada regional office in Halifax is so important. Unlike previous expansions, this office wasn’t established through promotion from within but by assembling a handpicked team of local experts. “We functionally launched the Halifax office by assembling the best team of professionals with a combined experience of over 100 years in the Atlantic commercial real estate market,” Saeid Khan shared, adding that this team brings together strong relationships and deep insights into the local economy.

Meet the Atlantic Canada Team: Local Experts

Each member of Canada ICI’s Atlantic team brings a wealth of knowledge and experience to the table. Together, they serve as trusted guides that borrowers need to navigate the commercial real estate landscape successfully.

Glenn Umlah, Managing Director, has over 43 years of experience in commercial real estate financing. He has worked across every major asset class and helped build one of the most successful mortgage origination teams in the Atlantic region. Glenn’s deep understanding of the local market and national capital sources makes him a key player in securing the best deals for his clients. His decision to join Canada ICI was influenced by his respect for Dale Klein, Canada ICI’s founder, who Glenn says “built a culture of integrity and growth.”

Ian MacInnis, Director of Mortgage Origination, is a senior executive with four decades of experience in banking and commercial real estate finance across Canada. Ian was the Health Care Specialist for Atlantic Canada for a Bank, specializing in seniors housing and nursing homes. In addition, he was also the Regional Vice President Real Estate for Atlantic Canada for another Bank that substantially grew its market share and presence throughout Atlantic Canada. Ian emphasized how Canada ICI’s CMHC lender status provided a competitive edge, especially in Atlantic Canada, where multifamily developments thrive on government-backed financing.

Matthew Dobbelsteyn, Director of Mortgage Origination, has built a reputation as a rising star in the commercial real estate world. With a background spanning multiple markets across Canada, Matthew is well-versed in structuring both CMHC-insured and conventional financing.

Geoff Umlah, Director of Mortgage Underwriting, rounds out the team with his exceptional analytical and risk management skills. Since 2021, Geoff has brokered over $60 million in financing and is a trusted expert in multifamily deals and underwriting across Atlantic Canada.

These professionals are more than experts—they are problem solvers, advisors, and collaborators who understand the unique needs of Atlantic Canadian borrowers.

Why Halifax, and Why Now?

The choice of Halifax as Canada ICI’s first office in the Atlantic region is strategic. Saeid Khan notes, “We chose Halifax because it is one of the fastest-growing cities in the area with a diverse and stable economy.” Halifax’s real estate market, characterized by low vacancy rates and high demand for multifamily, industrial, retail properties, and very good real estate developers makes it ripe for investment. New Brunswick, Newfoundland and Labrador and PEI have all witnessed significant growth and we look forward to assisting these real estate developers in their growth plans.

The timing, too, is crucial. Halifax has added 25,000 new residents in recent years, and the population surge is driving demand for housing and commercial space to new heights. The region faces a critical housing shortage, with vacancy rates sitting at 1% or less. There’s never been a greater need for innovative financing solutions to keep pace with this demand, and Canada ICI’s Halifax team is prepared to meet that need head-on.

Beyond Nova Scotia, the team is also deeply engaged in the other three Atlantic provinces. New Brunswick is a vibrant market where Canada ICI has cultivated a robust client base. Moncton, recently recognized as the fastest-growing city in the country, exemplifies the dynamic opportunities present in the region. The team also enjoys strong relationships with clients in Newfoundland and Labrador and Prince Edward Island, further emphasizing their extensive reach and expertise across Atlantic Canada.

The Canada ICI Difference: A Customized Approach

What sets Canada ICI apart is their ability to offer customized solutions that fit the specific needs of each borrower. Unlike traditional banks, which often have rigid lending criteria, Canada ICI has access to a wide range of capital markets. Whether it’s CMHC-insured financing for multifamily housing or conventional loans for commercial developments, the Atlantic team can match borrowers with the right lenders and structure deals that make sense.

From the moment a borrower sits down with the Atlantic Canada team, they are guided through the entire process—from understanding their financing options to securing the best deal and closing the transaction. As Glenn Umlah explains, “Having a permanent presence in Halifax allows us to be closer to our clients, leverage our local market expertise, and provide more personalized service.”

The Future of Real Estate in Atlantic Canada

With Canada ICI’s Regional office now firmly established, the team looks ahead with optimism. Saeid Khan expressed excitement for the city’s multifamily asset class, which represents the majority of their business. “Multifamily properties are in high demand in Atlantic Canada as cities attract more people who are looking for affordable and quality housing options.”

By having a physical presence in Halifax, Canada ICI is better positioned to offer competitive financing solutions, leveraging their CMHC lender status to provide competitive loan terms and access to mortgage insurance programs that ultimately reduce risk and increase leverage for their clients.

Take the Next Step with Canada ICI Atlantic Canada

Whether you’re a family-owned business seeking to expand or a developer looking to capitalize on Atlantic Canada’s booming real estate market, the Halifax team is prepared to guide you through every step of the financing process. Saeid Khan emphasizes, “We believe that our approach, which combines local market expertise, a national network of lenders, and customized solutions, will help our clients achieve their real estate goals in this market.”

The Canada ICI Atlantic Canada office is more than a local outpost—it’s a bridge to opportunity, connecting developers and borrowers with the capital they need to succeed in one of Canada’s most promising regions.