ATRIUM® has been providing creative financing solutions since 2001 and is one of the largest mortgage investment corporations in Canada.
© 2023 Atrium Mortgage Investment Corporation.
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.
Atrium was approached to assist with the assembly of a series of contiguous single-family homes ultimately forming a mid-rise development site in midtown Toronto. Initially the assembly was comprised of 5 homes, and the borrower continued to add to the assembly over a 12-month period until eventually acquiring 10 homes in total and obtaining approval for a 9-storey condominium project on the site.
A valued client approached us to provide acquisition financing on an assembly of single-family homes with a short closing timeframe. Atrium funded the loan within a week of the request, allowing the borrower to close on time. Ultimately, Atrium facilitated the assembly of a 27-acre site which received approvals for a multi-phased project with over 250 single-family homes. We expanded our facility to include a construction loan that allowed our client to service the first phase of the project while the borrower began marketing the homes for sale. Atrium was repaid by a construction lender once pre-sales were in place.
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.