Canada ICI Capital Corp., a national commercial real estate finance firm with offices in seven cities across the country, is acquiring a team from Lorne Capital.
Canada ICI said that effective June 1 it will add the group from the Toronto-based commercial brokerage as Canada ICI looks to strengthen its market position and provide commercial real estate finance services across Canada, the firm said.
"This acquisition is not just about expanding the team; it's about enriching the service offering and deepening the impact we can make for our clients," Canada ICI President Rick Bachalo said in a statement.
Canada ICI Capital Corp. is a Canada Mortgage and Housing Corp.-approved lender that annually arranges financing in excess of $9 billion.
The company said its focus will remain on expanding its strong market share in the CMHC-insured space. The Lorne team is expected to help with that.
"Being acquired by Canada ICI is a strategic evolution on our part, aligning with a partner that shares our values and enhances our capabilities," Lorne CEO Mackenzie Myles said in a statement.