Skyline Mortgage Investment Trust Funded Initial Loan in New Brunswick
Guelph, ON – September 10, 2018 –Skyline Mortgage Investment Trust (SMIT) is excited to announce that the trust funded its initial loan on August 15, 2018, in the amount of $1,676,250 in New Brunswick, CAN. The loan acquisition has an interest rate of 9% and is secured by income producing multi-family and retirement assets, with a maturity date of April 2020.
“We began building our real estate knowledge over 25 years ago when we started purchasing student rentals in Guelph, Ontario,” commented Jason Castellan, Co-Founder, and CEO of The Skyline Group of Companies. “From the very first house, we started working with a number of different lenders to finance the purchase and upgrades we have made over the years. With the introduction of SMIT, we are using the knowledge and experience we have gained to help other companies grow while providing strong returns for our investors.”
“Funding this initial mortgage is exciting news for the trust,” stated Mike Bonneveld, President of Skyline Mortgage Investment Trust. “We are proud to team up with First National, one of our longest partners, to provide financing for this property and work together on future opportunities as we grow the trust and provide even greater opportunity and returns to our investors”.
Skyline Mortgage Investment Trust will continue exploring suitable funding opportunities with our industry-leading team working towards stable growth for our investors. If you have any questions or would like further information regarding The Skyline Mortgage Investment Trust, please contact us.