PORTLAND, Ore.–(BUSINESS WIRE)–Sortis Income Fund LLC announced an 11.45% net annualized return to its investors for the second quarter of 2019, and an 11.39% net annualized return year-to-date. The Sortis Income Fund, a real estate mortgage fund that holds short-term notes collateralized by real estate, is managed by Sortis Holdings Inc. (SOHI).
The fund returned 12.24% to investors on an annualized basis in 2017, and 11.12% on an annualized basis for 2018, exceeding the fund’s 10% to 11% target return for investors. The fund is accessible via the Fidelity Wealthscape platform or directly from Sortis Holdings at www.sortisholdings.com/funds.
“We’ve now delivered 10 consecutive quarters of earnings that surpass our target,” said Jef Baker, fund officer. “While we’re producing very attractive yields for investors, our approach continues to be maintaining conservative loan-to-value ratios.”
“Sortis’ number one goal is investor principal protection and we do that through an average 65% loan-to-value, first-position real estate portfolio, with an average maturity of eight months or less,” said Morgan Smith, fund officer. “As a result of its conservative underwriting processes, Sortis has not taken back any real estate assets since its inception.”
The Sortis Income Fund LLC is an unlevered real estate note fund that allows quarterly distributions or reinvestment at investor discretion. Liquidity is also available after an initial six months, subject to short term loan maturities in its portfolio. Sortis recently extended its family of funds into the real estate equity world with the launch of a $100 million Opportunity Zone Fund.
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. and its wholly owned subsidiary, Sortis Financial Inc. The fund conservatively focuses on holding real estate loans. Sortis has developed a broad network over years in banking and finance with deep roots in the Northwest and has earned a reputation as a high-quality private lender that can execute efficiently.
About Sortis Holdings
Sortis Holdings is an investment firm with a primary focus on real estate, both as a lender and direct investor. With its roots as a former 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 more nimble than its competitors. For example, Sortis has launched Opportunity Zone Fund focused on Northwest real estate projects, created to take advantage of 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 SortisHoldings.com.
Sortis Income Fund, LLC Officer