Redbricks Mortgage Investment Corporation

Redbricks MIC

Redbricks MIC is an RRSP/TFSA eligible private mortgage investment fund managed by Gryphon. Investors have the opportunity to invest alongside MOSAIC employees, trades, and consultants in a pool of capital used to make loans to MOSAIC projects.  Please review our Offering Memorandum for a complete source of Redbricks MIC information.

Investment Overview

Redbricks MIC is a private Mortgage Investment Corporation (MIC) originally conceived to provide employees, trades, suppliers, and consultants the opportunity to invest in the projects that they work on everyday. Over the past 8 years, and with the help of friends and family, Redbricks has grown to over $31 million. Redbricks is RRSP and TFSA eligible, but can also be held personally or in a corporate account.



Investment Structure

Invested capital is pooled and used to make loans to MOSAIC real estate development projects across Metro Vancouver. Redbricks typically holds a portfolio of 7-10 mortgage loans that vary in seniority, type of development (townhome or condominium), and stage of development (land acquisition or construction). Each of these loans earns interest and fees for Redbricks investors. Loans are underwritten up to 83% LTV, so a project can lose up to 17% of its value before principal or interest is at risk.



Return

The key determinant of investment return is the allocation within Redbricks’ portfolio to cash, senior mortgages (1st), and mezzanine (2nd and 3rd) mortgages. Historically, Redbricks has been predominantly mezzanine mortgages, but may begin to transition toward a more balanced mix of senior and mezzanine mortgages.



Historical Returns

7.98% for the year ended Feb 29, 2017
9.58% for the year ended Feb 29, 2016
12.35% for the year ended Feb 28, 2015
10.01% for the year ended Feb 28, 2014
11.80% for the year ended Feb 28, 2013


*Returns above are prior to Redbricks’ inclusion of lower risk, lower yielding 1st mortgages to create a more balanced portfolio.



Dividends

Dividends are paid annually in late May and can be reinvested through a Dividend Reinvestment Plan (DRIP) or paid in cash.



Loan Portfolio


Pay for Performance

To ensure Gryphon is highly aligned with investors, Gryphon’s fees are linked to revenue. When your investment makes you more money, Gryphon earns more in fees. When your investment makes less money, Gryphon earns less in fees.



More Information


Disclosure

This communication is for informational purposes only and is not, and under no circumstances is to be construed as, an invitation to make an investment in Redbricks MIC. There is no guarantee of performance and past performance may not be repeated. Please refer to the Offering Memorandum for further discussion of the risk associated with investing in Redbricks MIC.