First Place

MIC

First Place MIC

Enhance your portfolio with unique investment opportunities backed by real estate properties across Canada. 

Let us help you

achieve your
financial goals

Investing in a First Place MIC

First Place MIC was created in 2007. The portfolio consists of first mortgages across Western Canada and Ontario, and is primarily comprised of owner-occupied residential properties. Each loan in First Place MICs portfolio has a loan-to-value ratio of 75% or less at the time of funding. 

PORTFOLIO SUMMARY

Figures as of June 30, 2022

$20.6M

assets under management¹

60

number of mortgages

59.7%

weighted loan-to-value (LTV)²

1 Value of mortgages in the fund. 2 Calculated as loans outstanding divided by the value of the property secured. The properties included in the weighted LTV calculation are of similar property types as 89.00% of the assets under management are residential properties, with the remaining being commercial retail properties.

Let us help you

achieve your financial goals

You’re worth a fortune. 

Invest with Alta West Capital.

Past performance is no guarantee of future results. Actual performance will vary. There is no assurance First Place MIC will achieve its objectives or be able to pay dividends consistent with historical payments. As such, dividends are subject to all the risks of First Place MIC’s operations and industry and investments generally, including the ability of borrowers to make applicable payments under mortgages comprising First Place MIC’s portfolio, real estate values, interest rates, unexpected costs, competition, the economy generally, and other factors beyond the control of First Place MIC. There is liquidity risk as preferred shares of First Place MIC are not publicly traded and you may be unable to sell or redeem them in a timely manner, or at all. For a list of additional risk factors related to an investment in preferred shares of First Place MIC, see the Investment Risk section in the Alta West Capital Relationship Disclosure Document. Read full disclosure here.

George Botros
Chief Executive Officer

George Botros was appointed as CEO of Alta West Capital in April 2021. Prior to his role as CEO, George served as Alta West Capital’s CFO and CCO from 2014 to 2021. He has over 20 years in the lending business, participating in residential, commercial, mezzanine, and interim financing related activities.

 

George is also a Director of the funds Alta West administers. Prior to joining Alta West Capital, he managed Toro Financial Corporation which amalgamated with AWM Diversified MIC, an entity managed by AWC, in 2014. George was also a University Professor teaching Finance and Economics for University of Lethbridge.

 

George holds a Bachelor of Economics and an MBA.