Pacifica Mortgage Investment Corporation
Managed by Capital West Mortgage Inc
Data as of: February 28, 2026 · View latest fund facts
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.
AUM
$253M CAD
2025 return
8.32%
LTV
53.3%
Management fee
2%
About Pacifica Mortgage Investment Corporation
Pacifica Mortgage Investment Corporation is a private British Columbia MIC incorporated in 1994 and managed by Capital West Mortgage Inc. It invests in short-term first-, second- and limited third-position mortgages secured by residential properties, commercial properties and land, primarily in the Greater Vancouver region and other British Columbia markets. As of February 28, 2026, its mortgage portfolio totalled $252.5M with a 53.34% weighted-average LTV and 82.68% first-mortgage exposure.
The fund reports approximately $253M CAD in assets.
Most of the portfolio is in first mortgages, with some subordinate exposure.
The latest annual return declined from 10.02% in 2024 to 8.32% in 2025.
The portfolio is highly concentrated in BC.
At a glance
| Assets under management (AUM) | $253M CAD |
| 2025 return | 8.32% |
| Overall LTV | 53.3% |
| First mortgages (as a % of the portfolio) | 82.7% |
| Property focus | Residential (64%) / Commercial (36%) |
| Structure | Private Corporation (MIC) |
| Investor access | Available to individual investors |
Pacifica Mortgage Investment Corporation portfolio and performance
The portfolio is composed of residential mortgages (64%) and commercial mortgages (36%).
| Property Type | Share (%) |
| Residential | 64% |
| Commercial | 36% |
Pacifica Mortgage Investment Corporation has a focus on BC, with 100% of its mortgages located in BC.
| Province/Region | Share (%) |
| BC | 100% |
Pacifica Mortgage Investment Corporation returns
| Calendar year | Net return |
| 2023 | 9.78% |
| 2024 | 10.02% |
| 2025 | 8.32% |
Pacifica Mortgage Investment Corporation facts
Fund structure
| Structure | Private Corporation (MIC) |
| Manager | Capital West Mortgage Inc |
| Series | Non-voting Preferred Shares |
| Latest data | February 28, 2026 |
Mortgage portfolio
| First mortgages | 82.7% |
| Overall LTV | 53.3% |
| Property focus | Residential |
| Leverage | Yes, the fund uses leverage. This means the fund borrows additional money and combines it with investor capital to fund more mortgages. Leverage can increase returns when the portfolio performs well, but it also adds interest costs and can magnify losses. |
Fees
| Management fee | 2% |
| Performance fee | None disclosed |
Additional fund details
Portfolio figures are as of February 28, 2026. AUM represents $252.52M of gross mortgage principal. Under the database methodology, 21.41% land exposure is combined with 14.63% commercial-property exposure, producing Commercial of 36.04%; Residential was 63.96% and active Construction was 0%. All mortgages were located in British Columbia at the reporting date, although Pacifica securities may be sold to eligible residents of British Columbia, Alberta and Saskatchewan. Returns of 9.78%, 10.02% and 8.32% are net fiscal-year returns for years ending November 30. The manager receives 2% annually on mortgage receivables plus 25% of new-loan origination-fee income; the latter is not a performance fee.
Who can invest in Pacifica Mortgage Investment Corporation?
Available to individual investors
This fund is available to individual investors.
The minimum investment amount for accredited investors is $25,000.
The minimum investment amount through an advisor or dealer is $25,000.
About Capital West Mortgage Inc
Capital West Mortgage Inc. is a Vancouver-based integrated real estate finance company providing direct lending and investment-management services. It has managed Pacifica Mortgage Investment Corporation since 2001 and is responsible for sourcing, underwriting, administering and monitoring Pacifica’s mortgage portfolio.
Frequently asked questions
It invests in residential mortgages.
The fund reports a weighted-average LTV of 53.3%.
Yes. It is available to individual investors.
The fund is managed by Capital West Mortgage Inc.
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