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RRSP Investment Opportunity

AP Capital Mortgage Investment Corp

AP Capital Mortgage Investment Corp (“AP Capital”) is in the business of securing mortgages through a well-established network of independent mortgage brokers and financial institutions. AP Capital primarily lends on independently valued, single detached residential homes in urban areas of British Columbia. Started in 2008, AP MIC advances short-term (primarly one year term) mortgages to borrowers at higher interest rates than conventional 25-30 mortgages.

Historical Peformance:

1,000+ Mortgages Advanced and Managed

Shareholder Yield (Audited):

  • 2019: 7.15%
  • 2018: 7.09%
  • 2017: 7.03%
  • 2016: 7.19%

3-year Average: 7.09%

10-year Average: 8.66%

At a Glance

Fund Type:Mortgage Investment Corporation (MIC)
Lendable Funds:$123.93MM (January 2020)
Fund Inception Date:March 2007
Monthly Distributions:7.0% per annum (not guaranteed) Cash or DRIP (dividend reinvestment) 119 consecutive months of distributions ≥ 7% p.a.
Share Price:$100.00 per Class B Common Share (EMD) $100.00 per Class F Common Share (IIROC – no load)
Minimum Investment:$10,000
Registered Funds:RRSPs, RRIFs, RESPs, LIRA and TFSA
Dividends:T5 Taxable income for Open/Cash Investors
Credit / Leverage$28.0MM (RBC - Royal Bank)
Asset ClassResidential Mortgages. Primarily single detached homes in urban Western Canadian cities (populations >75K) to arm’s length borrowers.
Redemption Rights:Monthly redemption available (conditions may apply). Redeemable on demand (with 60 days notice before year end). See Offering Memorandum for details.
Management Fee:1.50% per annum of mortgages under management.

This product is being offered through an Exempt Market Dealer (EMD), TriView Capital Ltd. Cynthia Aasen, Taylor Steele, Kristina Crossen, David Buchanan, & Austin Carroll are registered Dealing Representatives with TriView Capital Ltd.

*Risk Disclaimer*

Risks specific to this product include reliance of management of the Issuer to carry out its obligations, availability of funding for the Issuer, reliance on a non-arm’s length manager to determine mortgage investments, changes to income tax laws and government incentive programs, risks specific to investing in real estate, and conflicts of interest (as per Section 8.2 – Issuer Risks and Section 8.3 – Real Estate Industry and Related Risks of the Offering Memorandum)

These materials should be read in conjunction with the offering memorandum dated April  29, 2020, including the risk factors identified therin. This update has been provided for general information purposes only and is not intended to be a solicitation to purchase shares of AP Captial Mortgage Investment Corporation or advice regarding the suitability of the investment for specific investors. Any opinions expressed herein are effective at the date of the report. Management does not undertake to notify the reader of any subsequent change of circumstance or opinion. Historic returns set out above are net of all fund expenses and management fees. Past results are not indicative of future performance. For further information and disclosures please refer to the investor section on our website.

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