Mortgage Income
Fund Trust

We haven’t missed
a beat since inception

Mortgage Income
Fund Trust

We haven’t missed a beat
in 6 years
Your future starts here!

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

We are Relationship Lenders.

Clifton Blake Mortgage Income Fund Trust (CBMIFT) is a prominent and reliable provider of short-duration financing for commercial and multi-residential real estate projects in the Greater Toronto Area and key urban markets throughout southern Ontario. With an unwavering commitment to maintaining a conservative risk profile, CBMIFT has established a solid reputation for delivering consistent returns to its investors.

Since the fund’s inception, CBMIFT has achieved remarkable success by adhering to strict investment principles and robust governance practices. This disciplined approach is reflected in the fund’s impressive track record, which includes zero losses, no instances of gating, and stable year-over-year distributions to investors. CBMIFT’s commitment to strong governance and risk management has made it an attractive opportunity for those seeking exposure to a fixed income real estate investment.

Management has demonstrated repeated success in identifying high quality commercial and multi-residential real estate properties that require short-term project financing in order to add value, while focusing on maintaining a diverse portfolio of experienced and capitalized borrowers to mitigate risk. By leveraging its deep market knowledge and experience, Clifton Blake has built a strong network of industry relationships and developed an acute understanding of the local real estate landscape.

Investing in Clifton Blake Mortgage Income Fund Trust offers an opportunity to participate in the dynamic growth of the Greater Toronto Area and southern Ontario’s real estate markets, with the assurance of a conservative risk profile and a commitment to delivering stable returns. CBMIFT’s history of success, coupled with its stringent governance and risk management practices, makes it an ideal choice for investors seeking a dependable source of income.

Our success is the result of our hands on, proactive approach. Every mortgage we consider is discussed by our expert team. We don’t cut corners. We don’t take shortcuts. We don’t take chances.

Dr. Sidney Zucker

CHAIR. CLIFTON BLAKE
MORTGAGE INCOME FUND

CLIFTON BLAKE CREDIT COMMITTEE

Fund Parameters

TARGET ASSETS

Urban, infill, mixed-use properties, representing opportunities offering a combination of income and capital appreciation potential. All in GTA.

LIQUIDITY

Redemptions available at each quarter-end upon 30 days notice, after one year investment. Up to 5% of the Fund in any quarter. Up to 15% of the Fund in any annual period

TARGET CASH DISTRIBUTIONS

7.25% annually

Paid monthly

MINIMUM INVESTMENT

$100,000

TARGET ASSETS

Urban, infill, mixed-use properties, representing opportunities offering a combination of income and capital appreciation potential. All in GTA.

LIQUIDITY

Redemptions available at each quarter-end upon 30 days notice, after one year investment. Up to 5% of the Fund in any quarter. Up to 15% of the Fund in any annual period

TARGET CASH DISTRIBUTIONS

7.25% annually

Paid monthly

MINIMUM INVESTMENT

$100,000

Fund Parameters

Fund Parameters

TARGET ASSETS

Urban, infill, mixed-use properties, representing opportunities offering a combination of income and capital appreciation potential. All in GTA.

LIQUIDITY

Redemptions available at each quarter-end upon 30 days notice, after one year investment. Up to 5% of the Fund in any quarter. Up to 15% of the Fund in any annual period

TARGET CASH DISTRIBUTIONS

7.25% annually

Paid monthly

MINIMUM INVESTMENT

$100,000

2023 PERFORMANCE

9.50%

TARGET CASH DISTRIBUTIONS

7.25% annually

Paid monthly

MINIMUM INVESTMENT

$100,000

TARGET ASSETS

Urban, infill, mixed-use properties, representing opportunities offering a combination of income and capital appreciation potential. All in GTA.

Investment Strategy

Clifton Blake Mortgage Income Fund Trust specializes in providing short-duration financing solutions for commercial and multi-residential real estate projects, catering to experienced and capitalized real estate operators and developers who require private capital. The fund's typical investment size ranges from $2 million to $10 million, with an average loan-to-value (LTV) ratio across the portfolio between 60% and 65%. The loan terms generally extend from 12 to 24 months, offering borrowers the flexibility they need to complete their project and either sell or refinance with a term lender. CBMIFT strikes a balance between attractive returns for investors and providing accessible financing options for developers and property owners in the Greater Toronto Area and southern Ontario markets. CBMIFT is not a low cost provider but rather emphasizes flexible structuring options and speed of execution that has resulted in a significant amount of repeat business – we call that relationship lending.

Target Parameters

Investment size: $1 million to $20 million Loan-to-value (LTV) ratios: 60% to 75% Loan terms: 6 to 24 months Emphasis on first position mortgages Major urban centres with strong economic fundamentals in Southern Ontario No sub-prime credit

Portfolio diversification and risk mitigation

To maintain a conservative risk profile, Clifton Blake is committed to portfolio diversification and risk mitigation. The fund's investment strategy encompasses a balanced allocation across various property types, with a current emphasis on improving and developing single or multi-family residential and industrial properties, as well as concentrating on geographical locations within the Greater Toronto Area and major urban centres across southern Ontario markets. This diversified approach enables Clifton Blake to reduce the impact of market fluctuations and property-specific risks. The fund also employs thorough due diligence and underwriting processes to ensure the quality of its investments. Additionally, Clifton Blake actively monitors and manages its portfolio, making adjustments when necessary to preserve capital and optimize returns for its investors.

  • Balanced allocation across property types and geographical locations
  • Thorough due diligence and underwriting processes
  • Active portfolio monitoring and management

TARGET ASSETS

Urban, infill, mixed-use properties, representing opportunities offering a combination of income and capital appreciation potential. All in GTA.

LIQUIDITY

Redemptions available at each quarter-end upon 30 days notice, after one year investment. Up to 5% of the Fund in any quarter. Up to 15% of the Fund in any annual period

TARGET CASH DISTRIBUTIONS

7.25% annually

Paid monthly

MINIMUM INVESTMENT

$100,000

Investment Strategy

Clifton Blake Mortgage Income Fund Trust specializes in providing short-duration financing solutions for commercial and multi-residential real estate projects, catering to experienced and capitalized real estate operators and developers who require private capital. The fund's typical investment size ranges from $2 million to $10 million, with an average loan-to-value (LTV) ratio across the portfolio between 60% and 65%. The loan terms generally extend from 12 to 24 months, offering borrowers the flexibility they need to complete their project and either sell or refinance with a term lender. CBMIFT strikes a balance between attractive returns for investors and providing accessible financing options for developers and property owners in the Greater Toronto Area and southern Ontario markets. CBMIFT is not a low cost provider but rather emphasizes flexible structuring options and speed of execution that has resulted in a significant amount of repeat business – we call that relationship lending.

Target Parameters

Investment size: $1 million to $20 million Loan-to-value (LTV) ratios: 60% to 75% Loan terms: 6 to 24 months Emphasis on first position mortgages Major urban centres with strong economic fundamentals in Southern Ontario No sub-prime credit

Portfolio diversification and risk mitigation

To maintain a conservative risk profile, Clifton Blake is committed to portfolio diversification and risk mitigation. The fund's investment strategy encompasses a balanced allocation across various property types, with a current emphasis on improving and developing single or multi-family residential and industrial properties, as well as concentrating on geographical locations within the Greater Toronto Area and major urban centres across southern Ontario markets. This diversified approach enables Clifton Blake to reduce the impact of market fluctuations and property-specific risks. The fund also employs thorough due diligence and underwriting processes to ensure the quality of its investments. Additionally, Clifton Blake actively monitors and manages its portfolio, making adjustments when necessary to preserve capital and optimize returns for its investors.

  • Balanced allocation across property types and geographical locations
  • Thorough due diligence and underwriting processes
  • Active portfolio monitoring and management

Fund Parameters

TARGET ASSETS

Urban, infill, mixed-use properties, representing opportunities offering a combination of income and capital appreciation potential. All in Toronto.

LIQUIDITY

Redemptions available at each quarter-end upon 30 days notice, after one year investment. Up to 5% of the Fund in any quarter. Up to 15% of the Fund in any annual period

TARGET CASH DISTRIBUTIONS

7.25% annually

Paid monthly

MINIMUM INVESTMENT

$100,000

TARGET CASH DISTRIBUTIONS

7.25% annually

Paid monthly

MINIMUM INVESTMENT

$100,000

Investment Strategy

Clifton Blake Mortgage Income Fund Trust specializes in providing short-duration financing solutions for commercial and multi-residential real estate projects, catering to experienced and capitalized real estate operators and developers who require private capital. The fund's typical investment size ranges from $2 million to $10 million, with an average loan-to-value (LTV) ratio across the portfolio between 60% and 65%. The loan terms generally extend from 12 to 24 months, offering borrowers the flexibility they need to complete their project and either sell or refinance with a term lender. CBMIFT strikes a balance between attractive returns for investors and providing accessible financing options for developers and property owners in the Greater Toronto Area and southern Ontario markets. CBMIFT is not a low cost provider but rather emphasizes flexible structuring options and speed of execution that has resulted in a significant amount of repeat business – we call that relationship lending.

Target Parameters

Investment size: $1 million to $20 million Loan-to-value (LTV) ratios: 60% to 75% Loan terms: 6 to 24 months Emphasis on first position mortgages Major urban centres with strong economic fundamentals in Southern Ontario No sub-prime credit

Portfolio diversification and risk mitigation

To maintain a conservative risk profile, Clifton Blake is committed to portfolio diversification and risk mitigation. The fund's investment strategy encompasses a balanced allocation across various property types, with a current emphasis on improving and developing single or multi-family residential and industrial properties, as well as concentrating on geographical locations within the Greater Toronto Area and major urban centres across southern Ontario markets. This diversified approach enables Clifton Blake to reduce the impact of market fluctuations and property-specific risks. The fund also employs thorough due diligence and underwriting processes to ensure the quality of its investments. Additionally, Clifton Blake actively monitors and manages its portfolio, making adjustments when necessary to preserve capital and optimize returns for its investors.

  • Balanced allocation across property types and geographical locations
  • Thorough due diligence and underwriting processes
  • Active portfolio monitoring and management

Not all Mortgage Portfolios are created the same

The devil is always in the details

  • Average LTV target between 65-70%.
  • Anchored by heavy weighting in first-position mortgages.
  • Balanced portfolio in subordinate tranches within low risk 1st/2nd mortgages.
  • Consideration of participating debt to diversify the portfolio and partake in project upsides in select cases.
  • Distributing loans across real estate asset classes.
  • Strength in geographic exposure in major urban centers where real estate is liquid.
AVERAGE LTV 55.8%
AVERAGE TERM TO MATURITY 9.16 months
DISTRIBUTION 7.25% anually, paid monthly
REDEMPTION Quarterly*

As of March 31, 2024

Core Principles

Our team includes former ‘Schedule A’ bankers who have developed a credit underwriting and risk rating model which guide the careful selection of mortgages for our portfolio. Highly selective, the team exercises proven lending practices based on careful risk management. Every mortgage has undergone our own strict underwriting, and we leave no stone unturned in conducting rigorous backgrounds checks on borrowers.

We offer quarterly redemption and consistent cash flow distributed monthly for our investors. We have access to a line of credit at favourable rates, which allows us to manage cash flow, allow for contingencies and respond to opportunities.

Why a Mortgage Income Fund?

GROWING MARKET DEMAND

Canadians are increasingly seeking non bank lenders; the landscape of the lending market has a growing market share with qualified borrowers available.

REGULAR INCOME

Investors get a steady return, paid monthly.

LOW RISK & UNCOMPROMISED RETURNS

The Clifton Blake Mortgage Income Fund holds hard assets and does not face the same fluctuation in value due to public sentiment.

PEACE OF MIND

Unlike other investments that are more correlated with capital markets and are thus exposed to market sentiment, mortgage funds provide consistent fixed value income, and peace of mind knowing your investments are safe.

AN EFFORTLESS INVESTMENT

The Clifton Blake Mortgage Income Fund enables investors to reap the benefits of the private lending industry involved in multiple asset classes. All whilst leaving the expertise, time, and risk underwriting to an experienced team.

Strategy

  • Strong emphasis on mitigating risk with 1st mortgages.
  • A history and expertise in underwriting to select deals featuring both strong borrower and asset characteristics.
  • Regional focus in areas which are underexposed to single industries, or natural resources that are affected heavily by policy changes.
  • Significantly lower risk relative to peers, yet generating similar returns. Leverage at 5-10% while competitors are at 30-50%.
  • Proven pedigree for providing solutions in order to protect against downsides and achieve final value.
  • A privately held Fund, whereby investors are not subjected to volatility of the stock market.

Advantages

  • Continuous monthly distributions.
  • Diversification across a broad portfolio of investments.
  • Only unanimous Credit Committee decision making.
  • Flexible deal structures attract borrowers, infers better quality deal flow.

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