FUND MANAGEMENT

Our Funds

At IMC, we offer a range of commercial real estate debt solutions that provide stable income and an enhanced yield to complement traditional fixed income portfolios.

Our Investment Philosophy

Our funds incorporate the following key investment principles to generate value for our clients:

We build a high-quality portfolio with conservative loan fundamentals.
We believe that a well-diversified portfolio, by geography, property type and borrower, will achieve a more stable and predictable income for investors.
We take a disciplined approach to underwriting, with a focus on credit quality and capital preservation
We believe that active management enhances returns. Our funds employ a range of active strategies to enhance the value added to our investors, including the following:

We utilize both fixed and floating rate mortgages;
We engage in mortgage structuring (i.e., A & B notes); and
We are active in the secondary mortgage transaction market.

Our Investment Funds

The following two funds are currently open for new client commitments:

IMC Active Mortgage Fund (“AMF”)

The AMF is an open-end investment fund that invests in a well-diversified portfolio of high-quality core and core+ commercial mortgages. The AMF was originally launched as a closed-end fund in December of 2016 and was converted to an open-end fund, effective January 1st of 2021. The objective of the fund is to deliver a consistent and attractive long-term income stream to investors, while controlling portfolio risk.

More Information on AMF

IMC Real Estate Debt Fund XIV (“REDF XIV”)

REDF XIV is a closed-end investment fund that invests in a well-diversified portfolio of high-yield commercial mortgages. REDF XIV is the 9th high yield fund offered by IMC. Our REDF funds target a gross yield in excess of 10%. The fund optimizes its exposures across the 4 key subsectors of the high yield market – stabilized, transitional, construction and pre-development – to build a portfolio that generates high risk-adjusted returns. The objective of the fund is to deliver a consistent and attractive long-term income stream to investors, while controlling portfolio risk.

More Information on REDF XIV

IMC Managed Funds

As of June 30, 2021, IMC manages six investment funds with assets under management totaling over $895 million. Four of those funds ( REDF VI, REDF VIII, REDF X, REDF XII) are closed to new commitments. IMC’s active investment funds include funds specializing in core commercial mortgage loans, mezzanine and high-yield financing, and CMBS investments. In addition, IMC has also managed eight other investment funds which have matured and have had capital fully returned to investors.

IMC-Managed Funds

Currently Active Funds

Funds that have Matured and Capital Repaid

*The information respecting the IMC-managed funds contained in this web-site is for information purposes only. Nothing contained in this website should be considered as an offer to sell, or a solicitation or recommendation to buy, any security in any IMC-managed fund. Historical performance of any IMC-managed fund is not indicative of the future returns on any other IMC-managed fund, whose performance may vary significantly from the other IMC-managed funds depending on a variety of important factors, including actual composition of fund assets, the occurrence and timing of any credit events with respect to such fund assets, changes in interest rates, IMC management decisions, any weakening of the specific credits comprising fund assets, as well as both local and global economic and capital market conditions. For the same reasons, there is no assurance that any IMC-managed fund will not incur a loss of capital.

Our Investors

IMC fund investors must be accredited investors under applicable securities laws. Current IMC fund investors include pension funds, large institutional investors, family offices, high net worth individuals and money managers.

IMC Fund Management professionals are highly responsive to specific requests from investors.

Our Institutional Standards

IMC is committed to providing each of our funds and fund investors with a level of service that equals or exceeds the standards of a prudent institutional fund manager at all times.

Our Funds Include:

Terms and documentation which include internationally accepted investor protections and deferred payment of general partner carried interests

Institutional standards of investor communications and financial reporting

ESG Integration

Material IMC co-investment in each fund

Investor advisory/independent review committees and rigorous conflict management

While permitted fund investments vary for each IMC fund, IMC conducts detailed due diligence on each fund investment which complies with Canadian institutional standards. For funds which invest in new commercial mortgage loans, IMC applies Canadian institutional commercial lending standards prior to making each loan. Typically, these standards require IMC to obtain or review property appraisals, environmental reports, physical and engineering reports, insurance review, lease reviews, detailed underwriting of property income and leases, and a credit review of each loan obligor.