roi canadian high income mortgage fund (rih.un)€¦ · this is a second mortgage on a senior’s...

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ROI Canadian High Income Mortgage Fund (RIH.UN) Top 25 Investments

as at February 28, 2014

2088013 Ont. Inc., (Empire Communities-Brampton)

$15.89 million PRE/D (R) Multi- Residential

Brampton, ON

RIH.UN-Top 25 Investments Summary (As at February 28th, 2014)

300, 302 & 304 The East Mall LP

$11.73 million PRE (C) Office

Toronto, ON

Heritage Grove Centre Inc. (Villarboit- Owen Sound)

$7.71 million PRE/D (C) Retail- Consumer

Discretionary Owen Sound, ON

Hilldale Gardens Developments

$6.31 million 1st Mortgage

Multi-Residential Thunder Bay, ON

219 Laurier Avenue West LP


Ottawa, ON

Manior La Noblesse And Residence Vanier*

$7.50 million 2nd Mortgage

Multi-Residential Laval, QC

318 Queen St. West Inc. & 360 Queen St. West Inc.


Retail-Consumer Discretionary Toronto, ON

185,191 & 195 The West Mall LP


Toronto, ON

Sussex Centre LP

$20.24 million PRE (C) Office Mississauga, ON

Empire Communities (2183 Lakeshore Blvd.,) LP

$17.90 million PRE/D (R) Multi- Residential

Toronto, ON

401 & 405 West Mall LP


Toronto, ON

London City Centre LP


London, ON

Applewood II Hotel Holdings Inc.


Hospitality Vaughan, ON

Villarmark Inc. (Villarboit - Markham)


Discretionary Markham, ON

49 Ontario Street LP


Toronto, ON

2261 Keating Cross Road LP


Victoria, BC

77-79 EDR Inc.

$6.75 million

2nd Mortgage Industrial

Toronto, ON

2284477 Ontario Limited (Villarboit North Bay)

$9.76 million PRE/D (C ) Retail- Consumer

Discretionary North Bay, ON

Strathroy Land Corporation (Villarboit- Strathroy)


Retail -Consumer Discretionary Strathroy-Caradoc, ON

Gulf & Pacific Equities Corp.

$4.25 million

1st Mortgage Retail - Consumer Discretionary

Cold Lake, AB

350-450 Lansdowne Street LP

$4.11 million PRE (C) Retail- Consumer

Discretionary Kamloops, BC

Bayfield Mill Woods Limited Partnership

$3.84 million PRE (C) Retail- Consumer

Discretionary Edmonton, AB

McLeod Square Inc. (Villarboit- Niagara Falls)


Discretionary Niagara Falls, ON

PRE (C): Private Real Estate- Commercial PRE/D (C): Private Real Estate Development- Commercial PRE/D (R): Private Real Estate Development- Residential

2276844 Ontario Limited (Villarboit - Brantford)


Discretionary Brantford, ON

2256227 Ontario Inc.(St. Jacobs Country Inn)


Hospitality Waterloo, ON

185, 191 & 195 The West Mall LP is a three building Class A office complex, located in a high visibility area on the 427 corridor in the

Greater Toronto Area. The current tenants include SNC Lavalin Inc., Transat Tours Canada Inc., and Cogeco Data Services LP. This

complex is co-owned with Dundee REIT which is an open-ended real estate investment trust that primarily owns a portfolio of well-

located, high-quality central business district and suburban office assets in major urban centres across Canada.

185, 191 & 195 THE WEST MALL LP

Equity Investment:

$25,318,177

Private Real Estate - Commercial Office

Toronto, ON

Villamark Inc. (Villarboit - Markham) consists of 31.76 acres of land with an official plan designation of Major Commercial. This property

is ideally located with high accessibility to Markham Road/Highway 48 and the Major MacKenzie Dr. East neighborhood that is

comprised of thousands of new residential dwellings and retail/commercial activity. Villarboit Development Corporation is a Toronto

based developer of retail properties with a 25 year history of delivering quality properties for its clients and investors.

GLA?

Private Real Estate Office

Oakville, ON

VILLARMARK INC. (VILLARBOIT- MARKHAM)

Equity Investment:

$21,075,648

Private Real Estate Development- Commercial Retail Consumer Discretionary

Markham, ON

Sussex Centre LP is a two building Class A office complex, located in the Mississauga City Centre. Amenities in the area include

Mississauga Square One shopping centre, Mississauga Living Arts Centre, and a regional transit terminal. The complex has 649,915 Sq.

Ft. of total rentable area and its current tenants include Edward D. Jones & Co. and BMO Nesbitt Burns. This building is co-owned with

Dundee REIT which is an open-ended real estate investment trust that primarily owns a portfolio of well-located, high-quality central

business district and suburban office assets in major urban centres across Canada.

SUSSEX CENTRE LP

Equity Investment:

$20,238,091


Mississauga, ON

Empire Communities (2183 Lakeshore Blvd.) LP is a three phase high rise condominium development, consisting of approximately

1,114 residential units. It is minutes from the Gardiner Expressway allowing for close access to downtown Toronto and Pearson

International Airport. Empire Communities has received numerous awards for its building programs and is involved in all sectors of the

new home building industry including commercial, industrial, low rise and high rise residential.

EMPIRE COMMUNITIES (2183 LAKESHORE BLVD.) LP

Equity Investment:

$17,899,092

Private Real Estate Development Multi- Residential

Toronto, ON

and the QEW. Each building has 11 floors with a total rentable area of 411,285 Sq. Ft. Current tenants include Parmalat Canada Inc. and

Trader Corporation. This complex is co-owned with Dundee REIT which is an open-ended real estate investment trust that primarily owns

a portfolio of well-located, high-quality central business district and suburban office assets in major urban centres across Canada.

401 & 405 West Mall LP is a two building office

complex, located with easy access to highways 401, 427

401 & 405 WEST MALL LP

Equity Investment:

$16,310,520


Toronto, ON

2088013 Ont. Inc. is an investment in 95.92 acres of land located on McLaughlin Road in close proximity to Hurontario Street with easy

access to Highways 407 and 401 to the south. The land forms part of an approved secondary city plan designating the property for low

to medium density residential use. Empire Communities has received numerous awards for its building programs and is involved in all

sectors of the new home building industry including commercial, industrial, low rise and high rise residential.

GLA?


Oakville, ON

2088013 ONT. INC., (EMPIRE COMMUNITIES - BRAMPTON)

Equity Investment:

$ 15,885,809

Private Real Estate Development Multi- Residential

Brampton, ON

300, 302 & 304 The East Mall LP (The Valhalla Executive Centre) is a three building office complex located in the west end of the

Greater Toronto Area. The current tenants include Meloche Monnex Inc. and ERCO Worldwide, a division of Superior Plus. This

complex is co-owned with Dundee REIT which is an open-ended real estate investment trust that primarily owns a portfolio of well-


300, 302 & 304 THE EAST MALL LP

Equity Investment:

$11,727,761


Toronto, ON

219 LAURIER AVENUE WEST LP

Equity Investment:

$10,959,409


Ottawa, ON

219 Laurier Avenue West LP is an office building centrally located in downtown Ottawa. The property is fully-leased with approximately

97% leased by the Federal government providing stable cash flows. The building is 188,749 Sq. Ft. and is located in close proximity to

Highway 417, one of the three major arterial highways of greater Ottawa. This complex is co-owned with Dundee REIT which is an

open-ended real estate investment trust that primarily owns a portfolio of well-located, high-quality central business district and

suburban office assets in major urban centres across Canada.

LONDON CITY CENTRE LP

Equity Investment:

$10,671,106


London, ON

London City Centre LP is a two building office complex, centrally located in downtown London, Ontario. Current tenants include TD Bank, FedEx

Office Canada Limited and National Bank. This building is co-owned with Dundee REIT which is an open-ended real estate investment trust

that primarily owns a portfolio of well-located, high-quality central business district and suburban office assets in major urban centres across

Canada.

2284477 Ontario Limited, more commonly known as McKeown Commons is a retail centre undergoing construction at 790-850 McKeown Street

with excellent exposure to Highway 17, the main north/south expressway through Northern Ontario. The retail centre, once constructed, will span

523,591 Sq. Ft. and will include several large chains such as Winners, Sportchek and Michaels. Villarboit Development Corporation is a Toronto

based developer of retail properties with a 25 year history of delivering quality properties for its clients and investors.

2284477 ONTARIO LIMITED (VILLARBOIT NORTH BAY)

Equity Investment:

$9,756,868

Private Real Estate Development- Commercial Retail - Consumer Discretionary

North Bay, ON

2256227 Ontario Inc. is a first mortgage on two hotel properties with 118 and 104 rooms respectively, located in the city of Waterloo

next to several popular tourist attractions including the historic town of St. Jacobs, an outlet mall, Country Playhouse, and the Horse

Drawn Trolley tours. These hotels are branded Courtyard Marriott and Destination Inn who have over 900 hotels worldwide.

2256227 ONTARIO INC. (ST. JACOBS COUNTRY INN)

$8,399,225

1st Mortgage Hospitality

Waterloo, ON

LTV: 63.01% 5 year term

HERITAGE GROVE CENTRE INC. (VILLARBOIT- OWEN SOUND)

Equity Investment:

$7,712,674

Private Real Estate Development- Commercial Retail- Consumer Discretionary

Owen Sound, ON

Heritage Grove Centre Inc. is a 203,588 Sq. Ft. retail complex being developed by Villarboit, an established commercial developer in

Ontario. The partially completed property is ideally located within the targeted retail growth area of Owen Sound, with anchor tenants

including Winners, Michaels and Value Village.

This is a second mortgage on a senior’s residential complex of three 4-storey buildings which comprise a combined total of 174,955 Sq.

Ft. of gross building area, on a 97,285 Sq. Ft. site. The buildings contain a total of 167 residential units along with several on-site

amenities such as a reception hall, game room, indoor swimming pool, gym, rooftop terrace, and underground parking facilities. The

property is well located along Pie-IX Expressway which connects the Island of Laval to the City of Montreal.

MANIOR LA NOBLESSE AND RESIDENCE VANIER*

$7,500,000

2nd Mortgage Multi-Residential

Laval, QC


77-79 EDR Inc.

77-79 East Don Roadway Inc. (EDR) is a second mortgage on two buildings located in the West Don Lands, about a fifteen minute walk

from downtown Toronto. The West Don Lands is undergoing a transformation, with 6,500 residential units, an elementary school and

various commercial amenities planned for development. Both 77 and 79 EDR are three floor buildings covering 124,091 and 65,278 Sq.

Ft. respectively. Both are 100% leased. A unique feature of this property is that the rooftop is also leased to an advertising company for

an outdoor billboard placement.

77-79 EDR INC.

$6,749,474

2nd Mortgage Industrial

Toronto, ON


Hilldale Gardens Retirement Living is a first mortgage on a three-storey independent living retirement home, with 68 suites. This first

mortgage is backed by Corporate Guarantors including Quality Retirement Living (QRL -which currently owns and manages five

retirement homes in Ontario), Crestline Development Corporation and HG Holdings Ltd.

HILLDALE GARDENS DEVELOPMENTS

$6,306,336

1st Mortgage Multi-Residential

Thunder Bay, ON


49 Ontario St. LP is an 87,000 Sq. Ft. office building located in downtown Toronto. The property is 100% leased, current tenants include

Technicolor Creative services, which occupies 76,749 Sq. Ft. and Equinox Development Inc. which occupies 3,335 Sq. Ft. The building is

managed by and co-owned with Dundee REIT which is an open-ended real estate investment trust that primarily owns a portfolio of

well-located, high-quality central business district and suburban office assets in major urban centres across Canada.

49 ONTARIO ST. LP

Equity Investment:

$5,945,470


Toronto, ON

Applewood II Hotel Holdings Inc. is a first mortgage on a 7-storey Homewood Suites Hotel with 140 guest suites complemented by an

indoor pool and boardroom space. The hotel is located on the west side of Applewood Crescent, and east of Highway 400 surrounded by

a variety of restaurants and retail services. This property is owned by The Easton’s Group, which has won numerous awards and is well

known for their prime locations and the quality of their properties.

APPLEWOOD II HOTEL HOLDINGS INC.

$4,920,872

1st Mortgage Hospitality

Vaughan, ON


Strathroy Land Corporation is a first mortgage on approximately 110,000 Sq. Ft. property located at 70 Carroll Street East. The location

of the retail centre is considered to be within the pre-eminent retail development within both the township of Strathroy- Caradoc and

the surrounding rural communities. Villarboit has completed 20,000 Sq. Ft. of the retail centre, which is 100% leased and occupied and

is anchored by LCBO and Dollarama with an average lease term of 11 years. The excess land available for development supports up to

90,000 Sq. Ft. of additional retail space. Other retailers in the area adjacent to the Centre are Walmart and Canadian Tire.

STRATHROY LAND CORPORATION (VILLARBOIT – STRATHROY)

$4,770,277

1st Mortgage Retail Consumer Discretionary Strathroy-Caradoc, ON

LTV: 70.98% 1.5 year term

318 Queen St. West Inc. & 360 Queen St. West Inc. is a first mortgage on two retail properties of 5,227 Sq. Ft. and 3,049 Sq. Ft.

respectively, located in downtown Toronto just to the west of the “Financial Core”. Commercial development within the neighborhood

consists of a mixture of retail and restaurants/entertainment uses along Queen Street. The area benefits from proximity to the

downtown business district and from the convenient access provided by public transportation.

318 QUEEN ST. WEST INC. & 360 QUEEN ST. WEST INC.

$4,540,976


Toronto, ON


2276844 Ontario Limited (Villarboit – Brantford) is a 155,000 Sq. Ft. Class A commercial shopping centre being developed by Villarboit

Development Corporation. This retail development will be built on an approximately 14 acre parcel of land located on north side of

Henry Street, west of Wayne Gretzky Parkway in Brantford, Ontario. Adjacent to Lowe’s and Tim Hortons, major tenants of the new

development will be Michaels, PetsMart and Bed, Bath and Beyond. Villarboit Development Corporation is a Toronto based developer of

retail properties with a 25 year history of delivering quality properties for its clients and investors.

2276844 ONTARIO LIMITED (VILLARBOIT - BRANTFORD)

Equity Investment:

$4,531,713

Private Real Estate Development- Commercial Retail Consumer Discretionary

Brantford, ON

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2261 Keating Cross is a suburban office building also known as Gateway Park, ideally located in Victoria’s largest business park, twenty minutes from

downtown Victoria and ten minutes from both Victoria International Airport and Swartz Bay ferry terminal to Vancouver. The building is comprised

of two floors approximately 80,775 Sq. Ft. each. The building includes major tenants such as Telus, British Columbia Ambulance Service and British

Columbia Emergency and Health Services Commission. This property is co-owned with Dundee REIT which is an open-ended real estate investment

trust that primarily owns a portfolio of well-located, high-quality central business district and suburban office assets in major urban centres across

Canada.

2261 KEATING CROSS ROAD LP

Equity Investment:

$4,264,007


Victoria, BC

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GULF & PACIFIC EQUITIES CORP.

$4,248,268


Cold Lake, AB


Gulf & Pacific Equities Corp. is a first mortgage on two single level enclosed malls in Alberta more commonly known as the St. Paul Shopping Centre

and Tri City Mall. In addition to the mall, St. Paul's Centre has two free standing pads fronting 50th Avenue (Tim Hortons and Petro Canada). The Tri

City Mall located in Cold Lake has three outparcel buildings (including Pizza Hut and ATB Bank) fronting 51st Street. The St. Paul Centre is anchored

by Giant Tiger. The Tri City Mall is anchored by Sobeys, Dollar Tree and Sportchek. St. Paul and Cold Lake are strategically located at the centre of

the east/central region of Alberta.

350-450 Lansdowne Street LP is a community retail centre ideally located in the commercial district known as Kamloops Downtown

Centre. The property is comprised of 10 buildings in a total area of 13.18 acres with major tenants including London Drugs and Coopers.

This property is co-owned with Dundee REIT which is an open-ended real estate investment trust that primarily owns a portfolio of well-


GLA?


Oakville, ON

350-450 LANSDOWNE STREET LP

Equity Investment:

$4,106,501

Private Real Estate Commercial Retail - Consumer Discretionary

Kamloops, BC

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Bayfield Mill Woods Limited Partnership is a major mall located in the Mill Woods region south-east of Edmonton spanning 534,956 Sq.

Ft. and forms the focal point of the community, providing the critical mass of retail services for the area. It is currently 99% occupied

with anchor tenants such as Canadian Tire, Target, Safeway, and Shoppers Drug Mart.

BAYFIELD MILL WOODS LIMITED PARTNERSHIP

Equity Investment:

$3,835,958

Private Real Estate Commercial Retail - Consumer Discretionary

Edmonton, AB

McLeod Square Inc. is approximately 11 acres of commercial development land and 4.5 acres of residential land located at the

north-west corner of the intersection of McLeod Road and Montrose Road a growing retail hub that already includes Lowe’s, with

excellent exposure from the QEW. The property has an official plan designation for commercial and residential uses. Villarboit

Development Corporation is a Toronto based developer of retail properties with a 25 year history of delivering quality properties for its

clients and investors.

MCLEOD SQUARE INC. (VILLARBOIT - NIAGARA FALLS)

Equity Investment:

$3,829,520

Private Real Estate Development Commercial Retail – Consumer Discretionary

Niagara Falls, ON

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Commissions, trailing commissions, management fees and expenses all may be associated with investments in closed-end investment funds. Closed-end investment funds are not guaranteed; their values change frequently and past performance may not be repeated. Return On Innovation Advisors Ltd. (“Manager”) manages ROI Canadian High Income Mortgage Fund (RIH.UN), ROI Canadian Mortgage Income Fund (RIL.UN) and ROI Canadian Real Estate Fund (RIR.UN) (each a “Fund” and, collectively, the “Funds”) and operates under the business name ROI Capital. This investment portfolio summary will change due to ongoing portfolio transactions of the Fund. The dollar amount listed with each investment is the fair market value of the investment as at February 28, 2014. The process by which the investments are valued is fair and reasonable. There is no published market to value these investments; the valuation process may include assumptions. Return On Innovation Advisors Ltd. operates under the registered business name, ROI Capital. The loan to value and term for all mortgage investments are based on the time of funding. This information should not be considered a recommendation to buy or sell a security nor is it intended as investment, financial or other advice. Investors should consult with an investment professional prior to making any investment decisions. Return On Innovation Advisors Ltd operates under the registered business name, ROI Capital. Prepared by ROI Capital. All Rights Reserved (2014) [March/2014]. *Name of the properties offering the security for this specific mortgage in the name of Richard Gianchetti

37 Front Street East, 4th Floor, Toronto, ON M5E1B3 Phone: 416 361-6162

www.roicapital.ca

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