AP Capital MIC is a Vancouver based mortgage lending company, regulated by FICOM, the Canadian Securities Regulators and the provisions of the Canadian Tax Act. AP Capital MIC offers short term, bridge type lending solutions to clients who are either purchasing new homes or who want to access some of the equity in their property for good reason. These loans are typically of 12 month duration and sometimes less. Loans are occasionally extended for additional terms but are subject to diligent re-underwriting in such circumstances. Loans are always secured by way of either first or second mortgages on the borrower’s homes. The vast majority of mortgages are secured by residential properties (usually detached family homes), in the lower mainland of Vancouver and throughout the Fraser Valley. The MIC does a minimal amount of business in areas which have been identified as having ‘higher value’ homes (e.g. West side of Vancouver) and the maximum value of properties mortgaged will rarely exceed $2,500,000.
The management of the MIC collectively have in excess of eighty years of real estate experience and are very much aware of the risks of evaluating properties and the effects of declining property prices. All property appraisals are independently valued by the MIC’s approved appraisers, who they have dealt with for many years. Property valuations are conducted in the best interests of the MIC and not the borrower. All mortgage applications are subject to a diligent, vigorous and well established underwriting process which includes an assessment of the borrower’s ability to service their interest obligations on the debt. Valuations are generally very conservative and are often discounted to take into account market conditions and possible changes in the property market and property values.
AP Capital MIC has been in business for over 12 years. Since the fund’s inception in 2007, investors have consistently earned a return in excess of 7% per annum. The target annual return of 7% per annum remains intact, however prospective returns and/or preservation of investor’s capital, cannot be guaranteed in any way.
Investors receive a pro-rata monthly distribution, which can either be drawn as part of a retirement or passive income strategy, or can be re-invested by investors seeking portfolio growth by compounding returns.
The MIC is an attractive investment vehicle for investors with open investment accounts or those with registered funds. For investors with RRSP’s, RRIF’s & TFSA’s
As is the case with most investment opportunities, there is a risk that investors could lose some or all of their capital invested. Please see the possible risk areas highlighted in our comprehensive due diligence and analysis of this investment which is available to interested and qualified investors, on request. In our opinion investors should only consider these investments if they have a minimum of 3 to 5+ year time horizon as real estate investments are inherently illiquid and tend to benefit from longer holding periods. Prospective Investors are referred to the Offering Memorandums, Risk Acknowledgements, and Subscription Agreements for more information. Prospective investors should also note that past performance is no indication of how these investment offerings may perform in the future.
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