Findev is a real estate financing company that lends money to real estate projects that are identified as uniquely positioned to generate above average returns in a two to three-year timeframe.Findev focuses on lending to residential and retail development projects within the Greater Toronto Area. Findev provides public market participants an opportunity to invest in an asset class that is typically available only to institutional and high net worth investors who qualify as accredited investors.
The Corporation is focused on creating long-term capital appreciation for its shareholders in conjunction with providing an attractive yield, paid out quarterly. This provides shareholders with immediate cash flow while management works to create long-term capital appreciation. The Corporation has paid consecutive quarterly dividends since it changed the nature of its business in September 2016.
The Corporation targets real estate projects that include condominiums, purpose-built rentals, townhouses, low-rise/subdivisions, and retail developments. It makes debt-investments which provide attractive returns while mitigating down-side risk via maintaining a conservative loan-to-asset ratios.
The Corporation’s loans are generally for a period of one to three years, bridging projects through their development cycle. In some cases, as projects progress, land loans will be subordinated to construction financing. The mortgage and loan investments are secured by mortgages registered on title and/or other forms of security, including, but not limited to, floating charge debentures, general security agreements, postponement of specific claims and joint and several guarantees.