Squire Financial is a Waterloo, Ontario-based company specializing in loans secured by real property. We provide borrowers with prompt, competitive and reliable mortgage solutions for residential and commercial properties that are outside of the parameters of conventional lenders. We also offer investors a secure and profitable way to invest in real estate.
Our retail fund, Squire Mortgage Investment Corporation (Squire MIC) invests in relatively low risk, high yield mortgage opportunities. A MIC is a flow-through vehicle for tax purposes and is required to distribute 100% of its annual net income to shareholders, thereby avoiding double taxation.
- All loans are secured by real property and revenues are generated through interest earned and associated financing fees.
- Typical deals include 1st & 2nd residential & commercial mortgages; Equity, Construction & Improvement loans.
- Squire MIC uses channel partners for deal origination - mortgage brokers, real estate agents, lawyers, builders, banks, etc.
- Squire MIC is managed by Squire Management Inc. which is licensed as a Mortgage Administrator by Financial Services Commission of Ontario (FSCO License #12565)
- All mortgages are facilitated through an accredited Mortgage Broker
- Squire Management adheres to detailed lending guidelines
- A target annual yield of 8.0% is paid to investors via a quarterly dividend. The dividend may be reinvested through a Dividend Reinvestment Plan (DRIP)
- The investment is qualified for inclusion in an RRSP, RRIF, RESP, TFSA, or DPSP
We offer investors the opportunity to invest in a portfolio of real estate mortgages with attractive returns and security that is well understood with limited down side risk.
The Issuer: Squire Mortgage Investment Corporation
Currently listed or quoted: No. These securities do not trade on any exchange or market.
Reporting Issuer: No
Securities Offered: up to 50,000,000 Class A Preferred Shares, of the Corporation
Price per Security: $1.00 per Preferred Share
Maximum Offering: The maximum offering is $50,000,000
Proposed Closing Dates: All accepted subscriptions will be effective on the last business day of each month
Income Tax Consequences: Qualified investment for inclusion in an RRSP, RRIF, RESP, TFSA, or DPSP
Resale Restrictions: Yes
Selling Agents: Select EMD and IIROC Dealers
Referral Fees: The Corporation may pay referral fees in certain circumstances
The Manager: Squire Management Inc.
Management Fee: Up to 2.5% per annum of the gross assets of the Corporation
Redemption Rights: Series I shares 1 year non redemption
Dividend Reinvestment Plan: Yes
Subscription Qualification: Accredited Investor; Minimum Amount; Offering Memorandum
Risk Factors: See Offering Memorandum for complete details of all Risk Factors
Target Investor Return: 8.00% annual; paid quarterly (8.24% with DRIP)