8608 Capital mortgage fund is a boutique mortgage lender based in the Toronto Area supporting Mortgage Brokers, Real Estate Advisers, as well as Builders and Developers with Non-Bank Mortgage Lending Services.
Founded in 2018, 8608 Capital mortgage fund has built an impeccable reputation as a dependable and astute lender, originating and managing a growing portfolio of first commercial mortgages.
Our core services include project financing as well as Industrial and Commercial mortgage loans as well as construction funding selectively.
8608 Capital has a long and fruitful history of successfully investing investor funds in mortgages. In early 2018, 8608 Capital formed a closed-end investment fund, secured by a portfolio of commercial first mortgages, to build a larger-scale platform. Since its inception, 8608 Capital has invested and facilitated over hundreds of millions dollars, consistently generating steady and high rates of returns for a diverse client base.
8608 Capital Investment Corporation, the manager of the Fund, has generated an average annualized return to investors of approximately 10% over the past years.
The success of 8608 Capital can be attributed to our low tolerance for risk, and careful adherence to prudent underwriting principles.
We only lend in a 1st position or as a quasi-first position (less than 20% of the portfolio) being a “B” or subsequent position, in a structured first mortgage loan. This allows us to benefit from higher returns, with minimal added risk, compare to funding the entire mortgage as a simple first.
We typically lend at 50% to 65% Loan-to-Value (selectively higher to 75%), leaving adequate borrower equity and a safety net in the event of any required enforcement.
We ensure that there is adequate debt coverage for every loan and the fund will retain 50bps as a loan loss reserve.