Firm Capital Mortgage Investment Corporation
TSX-Listed Public Corporation (MIC) · Construction
Managed by Firm Capital Corporation
Data as of: March 31, 2026
This review is compiled by WOWA for informational purposes only and is not investment advice, an offer, or a solicitation. Figures are drawn from the manager's published materials as of the dates shown and may change. Returns are historical and do not guarantee future results. Verify all details with the manager or a licensed advisor before investing.
About the fund
Firm Capital Mortgage Investment Corporation (TSX: FC) is a publicly traded non-bank lender founded in 1988 and listed on the TSX since October 1999. The Corporation invests in mortgages through its mortgage banker Firm Capital Corporation, providing residential and commercial short-term bridge and conventional real estate financing, including construction financing, mezzanine debt, and equity investments. Its stated investment objective is the preservation of shareholders' equity while providing a stable stream of monthly dividends from investments in select niche markets underserviced by large lending institutions.
At a glance
| Assets under management (AUM) | $573M CAD |
| 2025 return | 6.9% |
| Overall LTV | 55% |
| First mortgages | 94.9% |
| Property focus | Residential (26%) / Construction (34%) / Multi-Residential (12%) / Other Categories (28%) |
| Structure | TSX-Listed Public Corporation (MIC) |
| Investor access | Available to individual investors |
Portfolio & performance
The portfolio is composed of residential mortgages (26%), construction mortgages (34%), multi-residential mortgages (12%) and other categories mortgages (28%).
| Property Type | Share (%) |
| Residential | 26% |
| Construction | 34% |
| Multi-Residential | 12% |
| Other Categories | 28% |
Firm Capital Mortgage Investment Corporation has a focus on Ontario, with 88.3% of its mortgages located in Ontario, followed by Quebec (6.8%), the U.S. (3.1%), Atlantic Canada (0.1%).
| Province/Region | Share (%) |
| the U.S. | 3.1% |
| Ontario | 88.3% |
| Quebec | 6.8% |
| Atlantic Canada | 0.1% |
| Other Categories | 1.7% |
Firm Capital Mortgage Investment Corporation returns
| Calendar year | Net return |
| 2023 | 10.7% |
| 2024 | 19.3% |
| 2025 | 6.9% |
Fund facts
| Structure | TSX-Listed Public Corporation (MIC) |
| Managed by | Firm Capital Corporation |
| First mortgages | 94.9% |
| Leverage | Leveraged |
| Latest data | March 31, 2026 |
Additional fund details
Reported annual performance figures are total returns, including both distributions and changes in the value of the investment.
Investor access
Available to individual investors
This fund is available to individual investors.
Minimum investment terms are not publicly disclosed.
About the manager
Since 1988, Firm Capital Organization, through its various affiliates, operates as a alternative private equity real estate firm deploying capital between debt and equity in real estate private and public markets. Firm Capital Corporation serves as the mortgage banker, loan originator, underwriter, servicer, and syndicator for Firm Capital Mortgage Investment Corporation (TSX: FC). The organization also manages Firm Capital Property Trust (TSX: FCD.UN) and Firm Capital Apartment REIT (TSXV: FCA.U). CEO is Eli Dadouch.
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