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May 22, 2018

A&B Acts in Formation of Skyline Mortgage Investment Trust and Financing of up to $13 Million

Margaret T. Nelligan, Anne E. Miatello, Amy Marcen-Gaudaur, Barbara Worndl, Neil Bass and Carol J. Burns

Aird & Berlis acted for Skyline Enterprises Management Inc. (“Skyline”) in the formation of Skyline Mortgage Investment Trust (“SMIT”) and the private placement offering of units for gross proceeds of up to $13 million (the “Offering”). The Offering is being conducted by way of a confidential offering memorandum and is expected to close in stages by August 31, 2018.

SMIT was formed by declaration of trust on February 23, 2018, as an unincorporated open-end investment trust, and has identified an initial portfolio of five mortgages across Alberta, British Columbia and New Brunswick to be purchased as funds are available from the Offering. SMIT aims to provide unitholders with stable and growing cash distributions from its indirect investment in a diversified portfolio of mortgages, while maximizing unit value through ongoing management of its assets.

The Aird & Berlis team representing Skyline was led by Margaret Nelligan and included Anne Miatello, Amy Marcen-Gaudaur (Capital Markets), Barbara Worndl, Neil Bass and Carol Burns (Tax).

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