Portland, Oregon, April 29, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Sortis Holdings, Inc. (SOHI), a Portland, Oregon-based alternative investment fund manager, announced that Sortis Income Fund, LLC produced a net annualized return of 7.1%* during the first 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.
The SIF continued to grow in size during the first quarter 2020, as the fund saw inflows of around $13 million.
“In an environment where the stock market has dropped significantly, REIT valuations have plummeted and other funds are paying little to no dividends, we take pride in delivering a solid return to our investor base,” notes Jef Baker, SIF managing director. “It is a volatile environment like this that validates the SIF’s number one goal of principal protection. We kept dry powder on the sidelines all through March, which slightly lowered our yields for Q1. That patience should pay dividends in Q2 as we are already seeing once in a cycle lending opportunities.”
Sortis recently sponsored an economic webinar: Sortis Economic Forecast with Dr. Bill Conerly. Dr. Conerly is a respected economist, Forbes contributor and Duke Ph.D.
The webinar provides an up-to-date view of how Sortis management feels the economic cycle may play out, with input on the impact to the Sortis Funds.
In addition to the webinar, Sortis released an outline of its COVID-19 investment strategy and views on the economic impact from the 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 (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.
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