Growing up, Salim worked at several hotels in Vancouver, and the value proposition at every property was the same: cater to the customers and whatever they need. Salim took this message to heart and made it a core value, which is the main reason for the success of his career that followed.
Salim graduated from Business School at the University of Victoria and then successfully worked as a hotel appraiser before working for a national lender as an underwriter and then an account manager. These experiences, combined with an approach that always put the client first, formed the bedrock for the career he would later launch.
In 2012, Salim left the comfort of a global financing company to start working independently as a mortgage broker for hotels across Canada, assisting clients with their financing needs to get them the best deal. To others, this seemed like a terrible idea because the venture was very specialized and “everyone already knew who to approach” for financing. Nevertheless, Salim’s calculated risk paid off because he correctly assessed that
- Borrowers did not know how to present their financing goals and achieve the best deals, even from their existing long-term lenders;and
- Lenders did not have internal hotel expertise or data to offer hotel financing, and so would shy away from what most consider “the toughest asset class to underwrite.”
With these unique insights, Salim launched the hotel mortgage brokerage division at Clifton Blake Realty Advisors in 2012 and ultimately grew the team that was successful in arranging financing from coast to coast.
Now, nine years later, Salim is bringing his expertise and client-focussed approach to a new venture: ICON Capital Corp., a mortgage brokerage that specializes in hotels, seniors living, self-storage, and student housing.
Salim’s approach is simple: always do what is best for the client. This is actually an unusual stance since the brokerage sector is focussed on doing deals, not helping clients. This makes Salim stand out from the rest, and those who have worked with him know that he lives by this statement.
Salim has worked with both owner-operators and multinational companies across Canada and the US. With his rich background and in-depth knowledge, Salim is able to expertly analyze a transaction and provide specific guidance to both clients and lenders. The lending community appreciates working with Salim and the team that he heads given their in-depth knowledge and the feedback that they give on each deal, particularly since lenders are often not well versed in the “niche” industries of hotels, seniors living, self-storage, and student housing. Clients value knowing that Salim is always working to secure them the best deal available, even if it is with the existing lender or based on a direct relationship that the client has. The end goal is always to get the best deal for the client.
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