Sortis Holdings, Inc. (SOHI), a Portland, Oregon-based alternative investment fund manager, announced that Sortis Income Fund, LLC produced a net annualized return of 10.2%* during the second quarter 2020. The Sortis Income Fund (SIF) is an unleveraged mortgage fund, which focuses on short-term notes that are collateralized by real estate.
Despite the volatility seen across the financial markets, the Sortis team continues to see the SIF loans performing well and are confident in the underlying notes and their respective collateral.
“Not only are we seeing strong performance in our current loan portfolio given our average 65% loan-to-value 1st position on real estate collateral, but we are seeing tremendous demand for real estate financing at very attractive terms for our investors,” notes Jef Baker, SIF managing director.
With management’s well-disciplined underwriting practice and track record the Sortis Income Fund continues to grow, despite the COVID-19 environment. “We were early to recognize the pattern we’ve seen in previous cycles and we accumulated cash in the first quarter of this year in anticipation of strong loan demand developing out of distress. Sure enough, in the second quarter we have been able to carefully select attractive real estate loans with better yields and terms than in previous quarters, driving a double digit return to our investors.”
The current economic environment has not only generated strong demand for real estate financing but has also allowed Sortis to launch its sixth fund, the Sortis Rescue Fund (SRF). The SRF focuses on distress and will capitalize on “once-in-a-cycle” real estate and business opportunities created as a result of the COVID-19 outbreak.
The Sortis Income Fund and its other investment offerings are accessible via major national investment platforms or directly from Sortis Holdings at www.sortis.com/funds.
About Sortis Income Fund LLC
Sortis Income Fund is an evergreen real estate loan fund offered through private placement to accredited investors. The fund is managed by Sortis Holdings Inc. The fund has a conservative focus on holding real estate loans. Sortis, with deep roots in the Northwest, has developed a broad network over many years in banking and finance and has earned a reputation as a high-quality private lender that can execute efficiently.
About Sortis Holdings, Inc.
Sortis Holdings (OTCBB:SOHI) is an investment firm with a primary focus on real estate, both as a lender and as a direct investor. From its origins as a bank holding company, Sortis has evolved into a diversified firm that both lends and opportunistically invests in real estate, with a focus on the Western U.S. Since real estate and financial markets are constantly evolving, the firm’s ability to move between asset classes and positions in the capital stack makes it nimbler than its competitors. For example, Sortis has launched an Opportunity Zone Fund focused on Northwest real estate projects, created to take advantage of a provision in the Tax Cuts and Jobs Act, which allows accredited investors to benefit from one of the best capital gains tax reduction programs in a generation. Operating under the principles of client focus, integrity, hard work and creativity, Sortis Holdings provides its accredited investors with well-managed, diverse asset-based investment strategies. Learn more at sortis.com.
*Returns are based on un-audited financial results.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Sortis Holdings, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Sortis Holdings’ ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Sortis Holdings’ and Sortis Income Fund’s disclosure documents and filings.
This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities. Any offer will be made only by means of an offer memorandum. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction other than the United States.