New $100-million fund announced for investment in first mortgages in Ontario

by Ephraim Vecina on 15 Jul 2020

Toronto-based real estate investment firm Downing Street has announced the launch of its $100 million private placement offering, which will be investing in first mortgages in multiple urban locations across Ontario.

The Downing Street Premium Yield Mortgage Fund LP, which will be available in DealSquare, will focus on a diversified mix of commercial, office, industrial, and development land properties, Downing Street said.

“We are actively growing both the debt and equity sides of our business and require a platform which can provide us with access to new capital sources. DealSquare offers that access, while also providing our firm with additional market exposure,” said Marc Canale, partner and COO at Downing Street. “We’re excited to launch this campaign and look forward to welcoming new investors into our business.”

Each mortgage will have a loan-to-value of not more than 75%, and a maturity of not more than two years.

“With DSPYM, Downing Street aims to provide unitholders with consistent monthly distributions backed by first mortgages that are subject to rigorous and diligent underwriting,” according to the announcement.

Downing Street said that it has been providing investment channels into residential, office, commercial, land, and industrial real estate across the GTA and Southwestern Ontario since the company’s founding in 1986.

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