VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2012) - CMLS Financial Ltd., Canada's largest independently-owned commercial mortgage services operation, is pleased to announce the acquisition of the Ottawa Branch of Montrose Mortgage effective October 1, 2012.
The former Montrose principals - Steve McEwen, David Arntfield, and James Scarrow - will continue in their role with CMLS Financial as Vice Presidents, Business Development. The Montrose Ottawa office opened in 1999 and the three principals collectively have over 60 years of experience originating and funding commercial and multi-family mortgages. Total origination between the three principals has exceeded $2.0 billion.
Established in 1974, CMLS Financial has experienced exceptional growth from its offices in Vancouver, Calgary, Toronto, Montreal and Halifax. Its current assets under administration are in excess of $6 billion. CMLS Financial provides a range of mortgage investment services to a variety of investors including pension funds, investment management companies, insurance companies, private lenders, and securitization trusts.
CMLS Financial also maintains one of Canada's leading commercial mortgage origination platforms, facilitating over $2 billion of annual loan funding. Its platform provides Canadian landlords and developers with unparalleled advice and commercial financing solutions from six offices coast-to-coast.
CMLS Financial President, David Franklin, is "honored and delighted to have the addition of such a first class office to the origination team. This office and team will open another market area for CMLS Financial and provide commercial real estate landlords in the Ottawa area with exceptional lending products and service."
CMLS Financial Vice-President Steve McEwen and his Ottawa partners are "excited at the opportunity to join the CMLS Financial team and to access their wide array of industry leading lending products and services."