Brookstreet MIC II Inc. (BMIC II) is a Mortgage Investment Corporation founded in 2012. Brookstreet’s objective is to identify relatively lower loan to value, higher yielding mortgage opportunities, which are primarily in the form of first mortgages. BMIC II will also identify some lower risk second mortgages. BMIC II lends to individual borrowers whose circumstances fall outside the new stricter, standard lending guidelines of the Canadian banks and other regulated institutional lenders. As a result of the credit tightening over the last 10 years, BMIC II has been able to source lower risk mortgage loans that yield a higher rate of interest. BMIC II was started as an alternative product to Brookstreet MIC Inc (BMIC).

 

BMIC II provides investors with stable, risk adjusted returns while employing a more conservative lending approach. BMIC II offers primarily first mortgage loans, on owner occupied properties. The portfolio will maintain an average loan-to-value of less than 80%. BMIC II lends on residential real estate in urban markets in Ontario. The Manager, Blackbird Management Corporation has demonstrated the ability to manage risk while delivering consistent results. This makes BMIC II an attractive investment for the conservative investor looking for higher returns than traditional investments provide.

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Currently Open to New Investments