PORTLAND, Ore. – March 20, 2019 – The Sortis Income Fund has been approved by Fidelity and National Financial Services and is now accessible to registered investment advisors and broker-dealers via the Fidelity Wealthscape technology platform.
The Sortis Income Fund, a $100M real estate mortgage fund that holds short-term notes collateralized by real estate, is managed by Sortis Holdings Inc. (SOHI) and its wholly owned subsidiary, Sortis Financial Inc. “The primary focus of this fund is principal protection, but we’re pleased that we’ve been able to deliver attractive yields to investors while maintaining conservative loan-to-values on short-term real estate loans,” said Morgan Smith, Sortis Income Fund managing director. The fund returned 12.24 percent to investors on an annualized basis in 2017, and 11.12 percent on an annualized basis for 2018, exceeding the fund’s 10 to 11 percent target return for investors.
Fidelity Wealthscape connects fee-based, commission-based and hybrid clients to Fidelity tools and third-party solutions in order to drive transparency, efficiency and growth for advisors and end investors. In addition to core clearing and custody services, the platform provides access to advanced analytics, automated workflow tools, planning and portfolio management solutions, consolidated data, digital advice solutions, and investment and retirement products.
“Enabling investment professionals who use Fidelity as a custodial platform to access the Sortis Income Fund makes the fund and its performance available to a significantly larger number of investors,” said Jef Baker, Sortis Income Fund managing director. “Sortis Financial Inc. is focused on lending and servicing loans nationally, and the Sortis Financial platform and its activities produce significant loan deal flow. Matching that deal flow with an expanding investor base through the Fidelity Wealthscape platform is a perfect fit.”
About Sortis Holdings
Sortis Holdings is a private 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 launched a $100M Opportunity Zone Fund in January 2019, 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.