First National Financial Corporation has surpassed $50 billion in commercial real estate mortgages under management.

The milestone reflects the company’s substantial growth in financing multi-unit residential properties across the country, said Toronto-based First National in a news release. The company cited collaborations with the Canada Mortgage and Housing Corporation and many institutional investors as contributors to the achievement.

“First National has dedicated itself to providing better lending to commercial real estate owners and developers since 1988,” said Jeremy Wedgbury, First National’s executive vice-president of commercial mortgages. “So reaching $50 billion in MUA is a validation of our long-term approach of solutions and service for customers.”

First National conducts business in all sectors of the commercial real estate lending market, including industrial and retail. But most of the firm’s commercial segment is weighted toward multi-unit properties, including construction financing on affordable housing rental units, market rental units, seniors housing and student housing.

Over the years, average mortgage sizes have increased dramatically, along with the company’s market reach, said First National.

“Achieving the $50 billion level is a validation of First National’s non-bank business model,” said President and CEO Jason Ellis.

Photo: First National Financial