OTTAWA, Oct. 04, 2022 (GLOBE NEWSWIRE) — Effective September 1, 2022, Westboro Mortgage Investment Fund has increased the monthly distribution per eligible Class F unit from $0.066/unit to $0.067/unit. This increase provides a non-compounded annualized return of 8.04%, or if the investor has elected to reinvest distributions (DRIP), a compounded annualized return of 8.34%. The impressive performance of the Westboro Mortgage Fund is a direct result of our strong, long-standing broker-client relationships; customer-centric team culture; best-in-class underwriting practices; and an environment of rising interest rates.
“The sudden drop in property prices has caused some non-bank lenders to pull out of the market. Borrowers are increasingly looking for alternatives and we are selectively deploying mortgage capital to residences in prime locations and to borrowers who can repay their debt. Westboro is the non-bank lender of choice, given our strong balance sheet and proven track record of profitability over the past 18 years. Our mortgage fund is open to new capital from investors. We see this as a great opportunity for qualified investors to increase the return on their investment portfolio,” said Nick Christopoulos, CEO of Westboro Mortgage Investment Fund.
About Westboro Mortgage Fund
Westboro Mortgage Fund was established in 2004 as a mortgage investment company in the Ottawa area. The mortgage fund manages assets made up of more than 90% residential and single-family mortgages. Total assets exceed $310 million while maintaining the primary objective of providing investors with a consistent and stable risk-adjusted return for their investment portfolio. Westboro lends primarily in urban centers in Ontario; where there is abundant liquidity in single family home purchase/sale transactions. Westboro has a strong risk management culture with prudent underwriting that ensures a high quality portfolio.
To learn more about the Westboro Mortgage Investment Fund, including investment opportunities and qualification criteria, please contact Vice President of Fund Sales, Scott Roberts at [email protected]