Issue link: http://e-delivery.uberflip.com/i/539452
SUMMARY OF INVESTMENT PORTFOLIO As at February 28, 2015 Net assets % of net assets Mortgage investments $ 57,319,141 94.42 Cash and cash equivalents 2,704,336 4.46 Other net assets 679,894 1.12 $ 60,703,371 100.00 (1) Excludes collateral real-estate security. (2) Current project phase of the primary real estate security as at February 28, 2015. (3) Mortgages are classified as "Current" at February 28, 2015 when interest payments are not more than 1 calendar month overdue as at February 28, 2015. Mortgages are classified in "Arrears" at February 28, 2015 when interest payments are more than 1 calendar month overdue as at February 28, 2015. Mortgages are classified as "Enforcement" at February 28, 2015 when a demand for repayment is outstanding as at February 28, 2015. (4) "Greater" denotes a location within 50km of the center of the referenced municipality. (5) Principal represents the amount invested by the Fund in a syndicated mortgage. Actual amounts advanced under the mortgage may exceed the Fund's investment. (6) Loan-to-value is calculated according to the following formula: [total mortgage principal outstanding including the principal of a first mortgage if applicable] / [value of land determined by a third party + value of completed improvements (A) ]* Description of project (1) Project phase (2) Status (3) Zoning (1) Region (4) Invested principal (5) Loan-to- value (6) Term (7) Interest rate Mortgage position % of NAV Commercial construction (office/retail) Construction Current Commercial Edmonton, AB $ 4,862,687 38.77% 6 10.75% First (8) 8.01% Commercial purchase/ refinance (hospitality) Completed Current Commercial Other, ON $ 4,690,000 55.00% 1 8.50% First 7.73% Land development Servicing Current Residential Other, AB $ 4,300,000 28.65% 6 10.00% First 7.08% Commercial purchase/ refinance (hospitality) Completed Current Commercial Greater Edmonton, AB $ 3,650,000 37.44% 2 9.75% First 6.01% Commercial construction (office/retail) Completed Current Commercial Edmonton, AB $ 3,000,000 33.00% 5 10.00% First (8) 4.94% Land development Construction Current Residential Edmonton, AB $ 2,965,300 60.88% 7 11.00% First 4.88% Commercial purchase/ refinance (office/retail) Construction Current Commercial Calgary, AB $ 2,374,054 53.68% 3 10.25% First 3.91% Duplex/townhouse construction Completed Current Residential Greater Edmonton, AB $ 2,000,000 43.52% 11 10.25% First 3.29% Duplex/townhouse construction Construction Current Residential Greater Edmonton, AB $ 1,667,858 62.02% 2 10.75% First 2.75% Duplex/townhouse construction Construction Current Residential Edmonton, AB $ 1,528,758 54.43% 2 10.75% First 2.52% Duplex/townhouse construction Construction Current Residential Greater Edmonton, AB $ 1,525,522 48.39% 4 10.25% First 2.51% Land purchase Land Current Commercial Calgary, AB $ 1,500,000 60.00% 7 10.50% First 2.47% Duplex/townhouse construction Construction Current Residential Calgary, AB $ 1,423,750 61.00% 9 10.50% First 2.35% Land development Servicing Current Residential Other, AB $ 1,400,000 40.35% 2 10.50% First 2.31% Duplex/townhouse construction Construction Current Residential Greater Edmonton, AB $ 1,362,600 57.99% 11 11.00% First 2.24% Land purchase Land Current Residential Edmonton, AB $ 1,200,000 67.53% 1 10.00% First 1.98% Single family construction Completed Arrears Residential Greater Calgary, AB $ 1,175,000 50.00% 1 10.25% First 1.94% Commercial purchase/ refinance (hospitality) Completed Enforcement Commercial Other, AB $ 1,050,000 45.45% 5 12.00% First 1.73% Single family construction Construction Current Residential Edmonton, AB $ 978,000 63.00% 4 10.50% First 1.61% Single family construction Construction Current Residential Greater Edmonton, AB $ 908,729 66.49% 4 10.50% First 1.50% Duplex/townhouse construction Completed Current Residential Calgary, AB $ 900,000 49.00% 5 10.00% First 1.48% Single family construction Construction Current Residential Greater Edmonton, AB $ 879,936 66.49% 3 10.00% First 1.45% Single family construction Construction Current Residential Calgary, AB $ 856,291 55.40% 1 11.75% First 1.41% Single family construction Construction Current Residential Greater Edmonton, AB $ 831,770 63.97% 4 10.50% First 1.37% Single family construction Construction Current Residential Calgary, AB $ 763,875 57.00% 4 10.50% First 1.26% 35