- What Cameron Stephens Mortgage Capital is initiating the Western Canada High Yield Mortgage Fund
- Why The $70m debt fund will concentrate on opportunities across Alberta and British Columbia
- What next Cameron Stephens is set to make the announcement today
Cameron Stephens Mortgage Capital has launched a fund focused on committing capital to high-quality commercial mortgage opportunities across Alberta and British Columbia with an investment capacity of $70m, Green Street News can reveal.
The fund is structured with $35m in commitments from Western Canadian family offices. That figure has been matched by $35m from Cameron Stephens’ flagship Bay Street High Yield Fund, bringing the total capital pool to $70m.
Cameron Stephens is set to make the announcement later today. The name of the fund is the Western Canada High Yield Mortgage Fund, and Cameron Stephens Mortgage Capital is the sponsor. The portfolio composition will be designed to offer diversification across location, mortgage type and asset class.
The launch of the fund is a pillar of the company’s expansion strategy in Western Canada, where it has grown to over $550m under administration in 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.”
The new fund is modeled after Cameron Stephens’ Ontario-based flagship Bay Street High Yield Fund, which delivered net annualized returns of 11.4% since it was launched in 2004.
Cameron Stephens, founded in 2004, is a real estate investment firm with nearly $4bn under administration. The firm specializes in mortgage solutions through Cameron Stephens Mortgage Capital. Since 2021, Cameron Stephens Equity Capital has provided equity opportunities for high-quality and strategically positioned developments.
