ICON Capital Corp. - Canada

What ICON Capital Corp. - Canada does

ICON Capital Corp. is a Toronto-based, FSRA-licensed commercial mortgage brokerage founded in 2021 by Salim Gulamani and Jason Wight, AACI. The firm arranges financing for niche real estate asset classes — primarily hotels, and additionally seniors living, self-storage, and student housing — across Canada, with some cross-border US activity. It operates the ICON Lodging Debt Fund (ILDF) as a captive private lending arm that directly funds first and second position hotel mortgages for deals under $10 million, offering bridge, PIP/renovation, and gap financing products at rates starting at Prime + 400-700 bps with a 2% setup fee.

The core product is mortgage brokerage services that match borrowers to lenders, supported by sector-specific advisory modules covering buy/hold/sell analysis, asset management, lender relations, and site evaluation. ICON earns transaction fees from lenders for successful loan placements rather than charging borrowers directly; ILDF adds interest income on directly funded loans. The firm is sales-led, with the three principals (Salim Gulamani as Managing Director, Jason Wight as Managing Partner, Phil Thompson as Director/Counsel) personally originating, underwriting, and negotiating deals. Customer acquisition relies on referrals from existing hospitality clients and principals' decades-long industry relationships, supplemented by content marketing through industry articles and a newsletter.

Customer concentration is in Canadian hospitality, with enterprise references including Bayview Group, New Castle Hotels & Resorts, PBA Group, and Dilawri Group, plus named asset-level deals across Ontario, Quebec, Nova Scotia, and Alberta. The firm holds FSRA Brokerage Licence No. 13379 and operates from offices in Toronto (headquarters) and Calgary. No external funding, institutional investors, or revenue figures have been disclosed.

Name

ICON Capital Corp. - Canada

Legal name

Icon Capital Corp.

Website

https://iconcapitalfinance.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Toronto-based FSRA-licensed mortgage brokerage founded in 2021 that arranges commercial financing for hotel, seniors living, self-storage, and student housing properties across Canada, with a private lending arm (ILDF) for sub-$10M hotel deals.

Ownership category

akta.pro rank

Product category

Commercial Mortgage Brokerage

NAICS

Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (52394), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162), Investment Advice (6282)

akta.pro industry

PRIMARYBPAJANAE

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Advisory & Consulting (Investment, Strategy)

SECONDARYBPAJAMAE

Hospitality (Hotels & Resorts) Asset Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Asset & Portfolio Management

SECONDARYBPAHADAG

Capital Raising Advisory (Debt/Equity/Private Capital)

Business & Public Services/Professional Services (Legal, Accounting, Consulting)/Strategy & Corporate Finance Advisory

Keywords

• Commercial mortgage brokerage
• Hotel financing
• Private lending
• Commercial real estate advisory
• Seniors living financing

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Others

Revenue model

1. Mortgage Brokerage Fees: ICON Capital Corp. operates as a licensed mortgage brokerage (FSRA Brokerage Licence No. 13379) arranging financing between borrowers and lenders. The company earns fees from lenders for successful loan placements. For their ICON Lodging Debt Fund (ILDF) private lending arm, they earn interest income on loans they fund directly, with setup fees of 2.00% and interest rates starting at Prime + 400-700 bps.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

ICON Capital Corp. is a licensed mortgage brokerage (FSRA Brokerage Licence No. 13379) that originates, underwrites, and negotiates commercial mortgages between property owners and lenders, with deep specialization in hotels, seniors living, self-storage, and student housing. Through its ICON Lodging Debt Fund (ILDF) sub-brand, it also acts as a private lender providing bridge, PIP/renovation, and gap financing directly to hotel owners on deals under $10 million. The firm additionally delivers advisory services covering Buy/Hold/Sell analysis, asset management, lender relations, and site evaluation.

Product overview

ICON Capital Corp. operates as a specialized mortgage brokerage and private lending platform that connects commercial property owners with lenders across Canada's niche real estate sectors. The core offering is the mortgage brokerage services platform, supported by the ICON Lodging Debt Fund (ILDF) sub-brand which provides direct private lending specifically for hotel owners. Additional sector-specific financing modules cover seniors living, self-storage, and student housing, while advisory services provide strategic support including buy/hold/sell decisions, asset management, lender relations, and site evaluation. The company serves as an intermediary facilitating financing relationships and does not appear to offer a unified software platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Mortgage Brokerage Services Specialized mortgage brokerage connecting commercial property owners with lenders, focused on hotels, seniors living, self-storage, and student housing sectors across Canada. The brokerage originates, underwrites, and negotiates commercial mortgages on behalf of clients and runs competitive bid processes to secure optimal terms.
• ICON Lodging Debt Fund (ILDF) Private Lending Private lending initiative operated through ICON Lodging Debt Fund GP Inc. that provides direct mortgage funding to small and medium-sized hotel owners in Canada. Focus is on deals under $10 million for acquisitions, brand conversions, ramp-ups, PIPs, renovations, and gap financing via first and second position mortgages.
• Hotel Financing Sector-specific commercial mortgage financing for hotel properties, providing access to decision-makers at lending institutions and leveraging 30+ years of appraisal, underwriting, direct lending, and mortgage brokering expertise.
• Seniors Living Financing Mortgage brokerage financing solutions connecting seniors living property owners with lenders actively seeking to finance this sector across Canada, including international lenders offering competitive terms.
• Self-Storage Financing Mortgage brokerage financing solutions for self-storage facilities, leveraging in-house industry data and comparable lending parameters so lenders can confidently deploy capital on competitive terms.
• Student Housing Financing Mortgage brokerage financing solutions for student housing developments and conversions, including vacant site evaluation, in markets where new supply has lagged behind demand.
• Advisory Services Full-service advisory including Buy/Hold/Sell analysis, asset management, lender relations support, and site evaluation to help clients manage real estate investment risk and maximize returns.

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Ottawa Airport AuthorityminorStrategic or Co-development PartnerICON Capital facilitated the transfer of lease agreement with Ottawa Airport Authority as part of an off-market transaction for Bayview Group's acquisition of Days Inn Ottawa Airport. This demonstrates ICON's ability to navigate complex multi-party transactions involving government authorities.

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Colliers Capital Markets: Global CRE advisory firm with a Canadian presence and active debt placement practice. Comparable as a real estate capital markets advisor arranging financing for commercial property owners, with broader sector coverage and larger team than ICON.
• JLL Capital Markets: Global real estate services firm with a sizable debt advisory and capital markets business. Comparable as a CRE capital markets intermediary arranging financing across asset classes including hospitality, with substantially greater resources and broader sector coverage than ICON.
• CBRE Capital Markets: Global commercial real estate services firm with a dedicated debt and structured finance capital markets practice. Comparable at the category level as a CRE capital markets advisor arranging commercial mortgages, though operating at vastly larger scale and broader asset-class coverage than ICON.
• Walker & Dunlop: Large US commercial real estate finance company with active hospitality lending and capital markets practice. Comparable as a CRE mortgage finance platform with hospitality expertise and proprietary lending, though at vastly larger scale than ICON.
• First National Financial: Major Canadian mortgage originator and servicer with multi-channel origination including commercial lending. Comparable as a Canadian mortgage finance platform with significantly larger scale, broader asset-class coverage, and public-company infrastructure that ICON lacks.
• Avison Young Capital Markets: Canadian-headquartered global CRE advisory with a debt and structured finance practice. Comparable as a real estate capital markets advisor arranging commercial mortgages for property owners, with deeper institutional client base and broader asset-class coverage than ICON.

Others

• HVS (Hospitality Valuation Services): Global hospitality consulting and appraisal firm where co-founder Jason Wight spent 13 years rising to SVP. Comparable as a hospitality-focused advisory and appraisal provider serving lenders and owners with the same underlying expertise ICON leverages, though operating on the consulting rather than brokerage side.

Direct peers

• CMLS Financial: Canadian commercial mortgage brokerage and lending platform arranging debt for institutional and private clients across asset classes. Directly comparable as a Canadian commercial mortgage intermediary competing for similar deal flow, though with broader sector coverage than ICON's niche focus.
• Northbridge Capital: Canadian commercial real estate mortgage brokerage and advisory platform arranging debt for institutional and private clients. Direct overlap with ICON in arranging financing between borrowers and lenders, though with broader asset-class coverage and institutional focus.

Emerging players

• Dwight Capital: US-based commercial mortgage origination platform with a hospitality focus and direct lending capability. Comparable as a hospitality-focused mortgage finance platform with both brokerage and balance-sheet lending, operating in the US market ICON is expanding into.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks2 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/icon-capital-corp-canada

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICON Capital Corp. - Canada