Mitchell Urzinger having joined Atrium in 2022, will be evaluating new mortgage finance opportunities and equity investments involving preparing financial analysis, underwriting models and investment presentations. Mitchell will also actively work on marketing and business leads with the Managing Director of B.C. Previously Mitchell articled at KPMG where he obtained his CPA designation and further grew his real estate background at Trez Capital. Mitchell is currently completing his Mortgage Brokers course at the University of British Columbia to become a licensed Submortgage Broker with the BCFSA.
Atrium initially provided acquisition financing to fund the purchase of a re-development site located in Toronto’s trendy King West neighbourhood. The site was ultimately approved for a 14-storey purpose-built rental apartment project, which includes the retention of a three-storey heritage building and affordable housing component. Upon approval, the borrower sold a 50% interest in the project and requested that the loan be increased to reflect the economics of the purchase.
The borrower planned to implement a capital improvement program prior to converting the property to industrial condominiums, with improvement costs funded through additional advances under the loan. Partial discharges were provided for each sold unit and sales proceeds used to repay the loan.
Atrium provided 1st mortgage financing to assist with the renovation and lease up of a heritage mixed use building located in downtown Vancouver. The loan provided funds for renovations with no preleasing requirements. Additional advances were available for tenant improvements once leasing was in place. Higher leverage financing was achieved in part due to the transferable heritage density and a façade credit that was granted to the project.
Acquisition financing for a six-storey brick and beam office building comprised of 63,000 square feet. The building needed major renovations, and Atrium provided working capital in order to re-position the property prior to lease-up at market rents. The client vacated the building, renovated each floor and overhauled the mechanical systems. The purpose of this loan was to provide acquisition financing, working capital to re-position the property and additional funds.
Robert Goodall is the President and founder of Canadian Mortgage Capital Corporation (‘CMCC’). CMCC’s four primary platforms are: (i) managing the operations of Atrium Mortgage Investment Corporation, a non-bank lender which trades on the TSX, (ii) managing various private real estate funds that invest with major developers across Canada, (iii) managing a private high yield debt fund, and (iv) managing lower yielding senior debt funds on behalf of institutional clients.
CMCC’s head office is in downtown Toronto, and the company has 2 branch offices in western Canada. In its history, CMCC has arranged financing on over $6.5 billion of real estate in Ontario and funded more than $3.0 billion of loans and equity investments across Canada.
Prior to founding CMCC, Mr. Goodall spent seven years with Royal Trust, where the last three years were served as National Managing Director of the Real Estate Finance Group with a portfolio of $1.4 billion in commercial and multi-residential real estate loans. Mr. Goodall is a trustee of two publicly held REITs and former director of a registered charity, Jump Math. Mr. Goodall has an HBA from the Ivey Business School, and an MBA from the Schulich School of Business.
Sunny Sarai bringing’s over 16 years of expertise in the mortgage industry. His background is built on consumer direct & broker direct dealings via credit unions, private lending and mortgage brokerage experience. Sunny helped launch a successful mortgage brokerage office as a Vice President of Operations.
Sunny’s experience includes specializing in the private mortgage sector, during his time with the head office of DLC group of companies. Sunny supported brokers, all over Canada, place their private deals with private mortgage lenders/investors. He worked with clients with bruised credit, clients in consumer proposal, even in bankruptcy.