Firm says it's deepening reach in commercial mortgage space
GreenBirch Capital has appointed Spencer Grigull as its new director of mortgage origination, a move the firm said signals its intent to deepen its reach in Canada’s competitive commercial mortgage sector.
Grigull, who will be based in Toronto, brings more than six years of experience in commercial mortgage underwriting, with a focus on Canada Mortgage and Housing Corporation (CMHC)-insured financing and a track record that spans multiple asset classes nationwide.
Grigull’s background includes a five-year tenure at CMHC, where he led underwriting for new-construction multi-residential projects across the Prairies and British Columbia.
GreenBirch’s move comes amid heightened competition for experienced underwriters and origination talent. The appointment also reflects a broader trend of commercial mortgage firms investing in specialized talent to navigate regulatory changes and evolving borrower needs.
The addition of Grigull is expected to benefit GreenBirch by enhancing its ability to structure and originate complex deals, particularly in the multifamily and mixed-use segments.
Multifamily and industrial assets continue to lead commercial transactions across Canada, followed by retail. The limited availability of housing, a rise in e-commerce, and support from federal initiatives such as the Housing Accelerator Fund (HAF) have contributed to the sustained interest in these sectors.
Meanwhile, investor confidence in Canada’s multi-suite residential and commercial real estate markets held firm in the second quarter of 2025, buoyed by strong demand, stable fundamentals, and resilience in key asset classes, according to Morguard Corporation.
GreenBirch, a Toronto-based commercial real estate finance firm, has expanded its operations since its founding, offering debt placement, advisory, and asset management services across Canada. It has over 40 years of combined industry experience and over $5 billion in commercial, multifamily, and construction mortgages underwritten and funded.
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