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Our Strategies

We invest across a company’s capital structure and investment stages, operating complementary investment groups in private equity, venture capital, infrastructure assets, private debt, and real estate debt.

Mortgages

Since 2009, the Nicola Wealth Mortgage Investments team has been investing in loans secured by real estate across a range of property types, participating throughout the debt stack.

$1.6B
in assets under management (AUM)
$554M
capital deployed (TTM)
13%
in funds
87%
in co-investments (includes directs, co-leads, etc.)
6
fund investments
98
directs/co-investments
Dollars are in Canadian. Stats as of March 31, 2026.

What We Bring

  • Staying PowerAs a permanent capital provider and evergreen fund operator, we are a long-term investor with the backing of a leading Canadian financial institution and the ability to recycle capital.
  • ExpertiseWe are an experienced and dynamic team focused on the fundamentals of credit, investing, and lending across the risk curve giving us the depth and breadth to identify and underwrite opportunities across our multiple origination and deal sourcing relationships.
  • Flexible and AgileWe strive to balance the risk and return appetite of our investors with the financing needs of our business partners and borrowers through flexible deal structuring and rigorous due diligence.

Investment Criteria

We are active in urban markets across North America with a focus on stabilized or light transitional Commercial Real Estate asset classes in addition to other targeted debt opportunities.

Our Funds

Performance One-Pager

Nicola Canadian Mortgage Fund

Performance One-Pager

Nicola U.S. Mortgage Fund

Quarterly Reports

Nicola Canadian Mortgage Fund

Quarterly Report

Q1 2026 | Nicola Canadian Mortgage Fund

Quarterly Report

Q4 2025 | Nicola Canadian Mortgage Fund

Quarterly Report

Q3 2025 | Nicola Canadian Mortgage Fund

Quarterly Report

Q2 2025 | Nicola Canadian Mortgage Fund

Quarterly Reports

Nicola U.S. Mortgage Fund

Quarterly Report

Q1 2026 | Nicola U.S. Mortgage Fund

Quarterly Report

Q4 2025 | Nicola U.S. Mortgage Fund

Quarterly Report

Q3 2025 | Nicola U.S. Mortgage Fund

Quarterly Report

Q2 2025 | Nicola U.S. Mortgage Fund

Recent Investments

Multi-Family

$14,500,000
Greater Montreal Area, Quebec
CAD
Industrial

$14,500,000
Greater Vancouver Area, British Columbia
CAD
Retail

$30,000,000
Greater Vancouver Area, British Columbia
CAD
Industrial

$26,450,000
Indianapolis-Carmel-Anderson, IN (MSA)
USD
Multi-Family

$14,500,000
Greater Montreal Area, Quebec
CAD
Industrial

$14,500,000
Greater Vancouver Area, British Columbia
CAD
Retail

$16,000,000
Greater Toronto Area, Ontario
CAD
Multi-Family

$15,350,000
Richmond, VA (MSA)
USD
Industrial

$11,120,000
Miami-Fort Lauderdale-West Palm Beach, FL (MSA)
USD
Retail

$19,500,000
Greater Toronto Area, Ontario
CAD
Multi-Family

$24,000,000
Greater Edmonton Area, Alberta
CAD
Industrial

$13,750,000
Greater Vancouver Area, British Columbia
CAD
Industrial

$12,245,000
San Diego-Chula Vista-Carlsbad, CA (MSA)
USD
Retail

$20,852,000
Boston, MA (MSA)
USD
Industrial

$14,140,000
New York-Newark-Jersey City, NY-NJ-PA (MSA)
USD
Multi-Family

$25,000,000
Greater Toronto Area, Ontario
CAD
Multi-Family

$14,000,000
Greater Calgary Area, Alberta
CAD
Industrial

$18,750,000
Greater Toronto Area, Ontario
CAD
Industrial

$18,720,000
Jacksonville, FL (MSA)
USD
Multi-Family

$17,100,000
Longview, TX (MSA)
USD

Seeking an investment partnership?

We are a professional and experienced team with a track record of efficient deal-execution across multiple private asset classes.

Let's Talk