Our History
Three decades, honestly told.
The CareVest Group has operated in Western Canadian real estate lending since 1994, through numerous business cycles in numerous markets. This is the story of where we began, what we learned, and the discipline that defines the CareVest Core MIC today.
Where we began
CareVest Capital Inc., the group’s Mortgage Broker, begins operating in Western Canada. Over its history it establishes a strong reputation for providing timely and tailored lending solutions, facilitating private financing for for-profit commercial residential real estate and housing development through numerous business cycles in numerous markets across Canada.
The exempt market
The group becomes active in the prospectus-exempt market, with a focus on private real estate lending investments in Western Canada, including mortgage investment corporations. Offerings are made through a licensed exempt market dealer, giving investors access to the group’s proprietary products.
The fund manager
CareVest Management Corp. is founded, providing services to the mortgage investment corporations that it manages. The MICs it has managed have funded over $2.1 billion in real estate lending, and CareVest Capital has referred over $2.0 billion in mortgages to the manager since 2010.
What the market taught us
Earlier CareVest funds faced difficult market conditions, and we believe investors deserve a direct account of that period and of what changed as a result. The lessons of those years are reflected in how the CareVest Core MIC is constructed today: its investment guidelines, its loan-to-value discipline, and its focus on the markets we know firsthand.
The CareVest Core MIC
CareVest Core Mortgage Investment Corporation is created to acquire and maintain a portfolio of mortgages that preserves capital and generates returns in order to permit it to pay distributions. Class A Shares are first issued in August 2021, with the first distribution in September 2021. CareVest Core MIC has successfully delivered monthly dividends to investors since its inception that represent the actual return on investment (net fees and expenses).
The discipline, institutionalized
The CareVest Core MIC currently holds 100% first mortgages, with a weighted average loan-to-value ratio of 62% and 75% or lower for most mortgages. CareVest Management Corp. administers $178 million in assets as of December 31, 2024. Fund performance is posted online monthly, and electronic investor statements are available.
The track record
Thirty years, in numbers.
Questions about our history?
Ask us directly. We encourage it.
We encourage our clients and prospects to ask questions. A licensed Dealing Representative will give you straight answers about the group, the fund, and the risks.