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Westboro Mortgage Investment Fund Announces Increase in Monthly Distribution to Investors

Written by Customer Service on . Posted in Dividend Reports And Estimates.

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 for a non-compounded annualized return of 8.04%, or if the investor opted to reinvest distributions (DRIP), a compounded annualized return of 8.34%. The impressive performance of the Westboro Mortgage Investment Fund is a direct result of our long-standing and strong broker-client relationships; client-centric team culture; best-in-class underwriting practices; and an increasing interest rate environment.

“The sudden drop in real estate prices has caused some non-bank lenders to retreat from the market. Borrowers are increasingly looking for alternatives and we are selectively deploying mortgage capital to residential homes in great locations and to borrowers who can service 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 for new investor capital. We see this as an excellent opportunity for qualified investors to increase their investment portfolio yield,” said Nick Christopoulos, CEO of Westboro Mortgage Investment Fund.

About Westboro Mortgage Investment Fund

The Westboro Mortgage Investment Fund was established in 2004 as a Mortgage Investment Corporation in the Ottawa area. The mortgage fund manages assets which are >90% residential, single family home mortgages. Total assets exceed $310 million all 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 ample liquidity in buy/sell transactions of single-family homes. Westboro has a strong risk management culture with conservative underwriting that ensures high portfolio quality.  

To learn more about the Westboro Mortgage Investment Fund, including investment opportunities and qualification criteria, please contact the Vice President of Fund Sales, Scott Roberts at sroberts@westboromic.com.

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