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WEALTHCO. ASSET MANAGEMENT

THIRD QUARTER 2020

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Third Quarter Highlights 

  • On May 5, 2020, Timbercreek Financial stated “COVID-19’s impact on April’s interest and principal payments was negligible, and there have been no material signs of deterioration in the portfolio to date”.  Timbercreek Financial invests in Canadian commercial mortgages and generates a yield of ~8.1%.  

  • We made a new investment in Timbercreek’s US Commercial Mortgage Fund in the second quarter. The fund invests in mortgages on real estate assets in the US, focusing on first mortgages with an average of ~70% loan-to-value in target cities such as Portland OR, West Los Angeles CA, and Tampa Bay FL.  The fund is well diversified by location and property type, and has a target return of 9.0%.  

  • Adventus Realty Trust, which operates suburban office buildings in Atlanta GA and Chicago IL, collected 96% of rents in June.  The company stated on its conference call that management is in discussions to refinance our 8.0% convertible debentures, to take advantage of lower interest rates.  

  • We reduced our fair value estimates for our retail-related real estate projects in the second quarter, including: the Tsawwassen Power Centre in Tsawwassen BC, the Blue Oaks Plaza near Sacramento CA, and the Poplar Medical Centre in Calgary AB.  

  • Subsequent to quarter-end, we reduced our fair value estimates for our Enercapita preferred shares, and our real estate holdings in Calgary.  

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The results speak for themselves.

OUR HARD WORK, AT YOUR SERVICE.

Download the WealthCo Asset Management third quarter fund fact and see how they have weathered market volatility now, and over the past 20 years.

WealthCo Asset Management is a proud partner to Avail CPA, and the professionals within the Integrated Advisory community. We share in the collective success of doing common things uncommonly well.

 

Integrated Advisory is a community of independent CPA firms and professionals who share a calling to provide a higher standard of care and elevate the financial services industry.  

Avail CPA   I   Claresholm, Fort Macleod, Lethbridge, Milk River, Pincher Creek, Taber, Vauxhall

All Rights Reserved 2019-2020   I   WealthCo Group of Companies

WealthCo is a corporate group that includes, WealthCo Planning Services Inc. and WealthCo Risk Management Inc. and WealthCo Asset Management Inc.  Investment Management services are provided under WealthCo Asset Management.  That firm is registered as an Exempt Market Dealer in the provinces of Alberta, British Columbia, Manitoba, Saskatchewan and Ontario.  It holds a Portfolio Manager license in the provinces of Alberta, British Columbia, Manitoba and Saskatchewan and an Investment Fund License in the province of Alberta.  The information in this website is directed to individuals registered in those provinces.  The information provided here is for general information purposes and should not be construed as providing advice.  WealthCo has not independently verified any information set out herein.  Any opinions set out herein are subject to change and WealthCo does not undertake to notify the reader of such changes.

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