Pineapple Financial, a publicly traded Canadian mortgage brokerage based in Toronto, opened a new office in the Vancouver area last month. This follows the company’s expansion into Western Canada, with other offices recently opened in Manitoba, Saskatchewan, Alberta and British Columbia.
After four months of remodelling the office to align it with Pineapple’s brand and ensure it catered to broker requirements, the new Coquitlam, B.C. office opened on December 1. It acts as Pineapple’s hub for Western Canada operations and strategic initiatives.
Better serving realtor partners, clients and the community
Christa Mitchell, Pineapple’s chief strategy officer, says, “The team is excited to make a substantial impact in the local real estate industry by introducing cutting-edge innovative solutions and exceptional support designed to enhance the experience for our mortgage brokers and their valued realtor partners and clients.
As a people-first brokerage, we also look forward to inspiring positive change by infusing our culture of collaboration, education and support within the mortgage and real estate industry … We are also looking forward to taking an active role in the community through social, charitable and volunteer programs and by creating new and promising career opportunities for many.”
In the long term, the team’s goals include solidifying themselves as the leading provider in the real estate sector, Mitchell explains. “To achieve this, we are committed to driving technological advancements that revolutionize industry practices and fostering a culture of innovation and collaboration, where we actively contribute to shaping the future of the real estate industry.”
The team should be well set up for this, as Pineapple operates with a tech focus and integrated broker and agent network.
Growth opportunities
The company says that, over the year, the new office is expected to generate $300 million in new mortgage origination, a projected 10 per cent increase in gross revenue.
“This expansion solidifies our unwavering commitment to delivering exceptional mortgage solutions to Canadians, contributing to the economic landscape by creating job opportunities and fostering mutually beneficial partnerships,” Mitchell says.
As well, Shubha Dasgupta, CEO of Pineapple, notes that the expansion has added 50 new mortgage professionals to the company’s Western Canada network.
Dasgupta believes the expansion is key to the company’s expansion strategy: “Not only does this new office reinforce our commitment to nationwide growth, innovation and unparalleled service excellence, but it also will play a crucial role in introducing our cutting-edge AI-driven technology solutions to local brokerages and clients and drive significant revenue growth in British Columbia.”
Mitchell notes that the Coquitlam team is already witnessing a transformative shift in the real estate industry. “We anticipate that 2024 will be a dynamic and promising year for us. We are thrilled to be part of this exciting journey and to contribute to the success of everyone involved,” she explains.
Emma Caplan-Fisher is an editor and writer for REM. She has over a decade of experience in various content types and topics, including real estate, housing, business, tech, and home & design. Emma’s work has also been featured in Cottage Life, the Vancouver Real Estate Podcast, the Chicago Tribune, Narcity Media, Healthline, and others. She holds a Certificate in Editing from Simon Fraser University.
