as of October 31, 2017
Real estate investment and development fundamentals remain favourable in Canada providing an attractive market for mortgage lending in high quality real estate assets.
- Demand for mortgage financing has remained stable as real estate investment trusts (REITs) and pension funds continue to raise capital to acquire new assets.
- An abundance of domestic and foreign investment capital continues to be deployed in Canadian direct real estate equity investments.
- Canadian real estate prices have appreciated recently and are expected to remain relatively stable.
High quality mortgages will be primarily secured by income producing real property where the principal and interest can be serviced from the cash flow generated by the underlying real property. The mortgage may be either first ranking, junior first ranking or second ranking.
Top ten mortgage holdings
Loan to value
* Based on arms length third party appraisals performed at the time of funding. The summary of top 10 mortgage holdings is current to June 2015 and may change due to ongoing portfolio transactions.
By asset class
The summary of asset allocations is current to June 15, 2015 and may change from time to time. This material is not to be distributed, reproduced or communicated to a third party without the express written consent of First National Financial LP and should be read in conjunction with the Fund's most recently filed Annual Information Form. This material is for information purposes only and does not constitute an offer to sell or a solicitation to buy securities. Past results are not intended to be indicative of future performance. Commissions, service fees, management fees and expenses may be associated with investment funds.