bcIMC Investment Management Corporation
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bcIMC finances Canadian income producing commercial and multi-family residential properties through our Fixed-Term Mortgage Fund. The risk factors that are used to evaluate mortgage investments include: location; improvement(s) quality; tenant financial strength; green building features; borrower and covenantor's financial strength; loan-to-value level; debt servicing ability; and borrower experience. Mortgage agreements may include additional security provisions such as personal guarantees, corporate guarantees, letters of credit, and the pledging of additional collateral.

Security
  • First, second or third mortgages
  • First mortgage bonds
Asset Types
  • Hotels
  • Industrial
  • Multi-family residential
  • Office
  • Retail
  • Retirement Homes
Terms

Typically one to five years

Interest Rates

Interest rates for these mortgages are determined by adding credit and liquidity spreads over the current yields of Government of Canada bonds with similar terms to maturities. bcIMC's portfolio managers utilize a multi-factor risk rating model to assess credit risk levels on individual investment opportunities. The risk factors that are evaluated include: location; improvement(s) quality; tenant financial strength; borrower and covenantor's financial strength; loan-to-value level; debt servicing ability; borrower's experience.

Loan-to-Value

Maximun 75 per cent loan-to-value

Additional Security

Mortgage agreements may also include additional security provisions such as: personal guarantees; corporate guarantees; letters of credit; pledging of additional collateral.

Third-Party Reports

All mortgages require a property inspection, current market appraisal, and a current environmental audit.

Loan Size

Typical range $5,000,000 to $250,000,000

Pre-Funding Conditions

The Fixed-Term Fund requires three years of operating history as well as an acceptable level of leasing in place. No mortgages will be funded without a property inspection, current market appraisal, lease reviews, and a current environmental audit.

Construction Mortgage Fund
Mezzanine Mortgage Fund

<< Mortgages

 


 
 

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