Prairie Commercial Mortgage Corp., has entered a strategic partnership with Essex Lease Financial Corp.

The move is designed to support the Edmonton-based brokerage’s expansion across Western Canada.

Founded in 2017, Prairie Commercial arranges commercial financing for real estate developers, property owners, and businesses across Alberta and Saskatchewan, with growth underway in Manitoba and British Columbia.

Ryan McDonald adds, “This partnership with Essex positions us to grow our business with access to robust deal flow, corporate infrastructure, market diversification and additional proprietary tools for our tool belt, to better serve our trailblazing customers,” said Ryan McDonald, Prairie Commercial’s founder and managing director.

Prairie Commercial is known for its lender relationships across the banking, institutional, Canada Mortgage and Housing Corporation and non-bank debt markets, according to the company.

“We are pleased to partner with the Prairie CMC team, adding tenured expertise and relationships in the commercial-mortgage industry, further expanding Essex’s service offering to its valued clientele of business owners and entrepreneurs who create jobs and contribute to economic growth in Western Canada,” said Ross Sten, CEO of Essex.

Prairie CMC is licensed through the Real Estate Council of Alberta and the Financial Consumer Affairs Authority of Saskatchewan and specializes in arranging loans of more than $2 million across asset classes, including owner-occupied and income-producing properties, multi-family residential, and distressed or debtor-in-place (DIP) financing.

Essex, based in Calgary, provides equipment financing and supports the transportation sector through a fleet of rental trailers and related services.

Pictured: Prairie Commercial-financed property.

Photo: Prairie Commercial