A medium-term investment fund composed of a diversified portfolio of commercial and multi-residential mortgages across Canada. TG Income Trust III provides a fixed quarterly return to investors while preserving invested capital by maintaining a steady net asset value. The trust holds investments in first position and second position mortgages, sub-tranches of mortgages, and blanket mortgages secured by multiple properties.

Fund Summary

Fund Manager Trez Capital Fund Management Limited Partnership
Asset Class Income trust fund
Inception Date July 14, 2016
Minimum Investment $2,000 (200 units)
Eligibility RRSP / RRIF / TFSA / RESP / RDSP / DPSP
Fund Assets (12/31/2018) $64,251,806

Portfolio Composition

Total Fund Assets $72,719,492
Investments in Mortgages $65,494,313
Cash (and Equivalents) $6,372,297
Other Assets $852,882
No. of Mortgage Investments 46
Average Mortgage Size $1,308,534
Weighted Average Loan-to-Value (LTV) 68.3%
Total Units Outstanding (Series A, C, D) 6,317,786
Net Asset Value per Unit $10.00

Geographic Region

Texas
60.4%
Alberta
11.3%
Florida
9.9%
Washington
6.7%
United States - Other
5.9%
Arizona
5.3%
British Columbia
0.5%

Asset Class

Residential
94.2%
Hotel
2.7%
Industrial
2.5%
Retail
0.6%

Security Rank

First Mortgages
98.5%
Second Mortgages
1%
Third Mortgages
0.5%

Historical Performance

  Q2 2019 2019 YTD 2018 2017 2016
Series A1 1.8% 3.6% 7.1% 7.1% 7.1%
Series C1 1.8% 3.6% 7.2% 7.2% 7.2%
Series D2 1.9% 3.8% 7.5% - -

1 The 2016 YTD returns for Series A and Series C are annualized as the initial closing date of each series occurred part way through 2016.
2
The 2018 YTD return for Series D are annualized as the initial closing date of the series occurred part way through 2018.

Distribution History

Year Series Q1 Q2 Q3 Q4
2018 A-1 0.175 0.177 0.175 0.179
  A-2 0.175 0.177 0.175 0.179
  C-1 0.178 0.180 0.181 0.181
  C-2 0.178 0.180 0.181 0.181
2017 A-1 $0.175  $0.177 $0.179  
  A-2 $0.175  $0.177 $0.179  
2016 C-1       $0.178
  C-2       $0.105
  C-3       $0.036

 

Distribution Schedule

  Record Date Expected Pay Date1
Q1 March 31 April 15
Q2 June 30 July 15
Q3 September 30 October 15
Q4 December 31 January 15

1This is an estimated date and subject to change. 

Note: Distributions are taxed in the year that they are earned. T3 slips are distributed to all unitholders in March of each year following completion of the year end audit and payment of the annual top-up distribution.

Fees

Management Fee Quarterly fee equal to the amount by which Net Revenue exceeds the Aggregate Fixed Return and Trust expenses for all Series

Minimum Investment

Province Minimum purchase per investor (units)1 Minimum purchase per investor ($)1
Series A 200 $2,000
Series B 200 $2,000
Series C 200 $2,000

1  There is no regulatory minimum subscription amount for investors; however, the minimum initial purchase amount established by the Manager is 200 units at $10 per unit ($2,000).

 

Quarterly Unitholder Reports


Financial Statements

  • Q4 2018 Financial Statements

    December 2018 - Trez Capital TGIT III - Q4 Financial Statements
    View/Download »
  • Q4 2018 MD&A

    December 2018 - Trez Capital TGIT III MD&A
    View/Download »

Investments