52 Chartwell Rd, Oakville,
ON L6J 3Z5, Canada
The Assets
Series A Portfolio — curated AAA Toronto and Oakville trophy assets, each with ≤65% LTV first-lien
- 23 Ross Avenue - Student Housing
- 5-unit, 27-bed luxury student residence.
- Net Asset Value: CA $20.9M/ US $15.1M (CAD/USD = $1.385)
- Fully owned, under construction, un-leveraged
- Debt allocation (≤ 65 % of Launch NAV)
- Estimated occupancy: January 2026
- Coverage: ~154 % of Year-1 coupon
Adjacent to University of Toronto. This ensures the most mature asset reaches cash-flow and/or sale readiness first, shortening time to revenue. 35% Sponsor injection completed.
- 975 Dovercourt Road - Luxury Multiplex
- 11-unit luxury housing project.
- Net Asset Value: CA$ 24M / US $17.3M (CAD/USD $1.385)
- Fully owned, under construction, un-leveraged
- First-lien ≤65% LTV
- Estimated occupancy: July/August 2026
- Coverage: ~154% of Year-1 coupon
11-unit boutique building in Toronto’s core. This capital will finance construction through lease-up, leveraging its existing approvals and site readiness. 35% Sponsor injection completed.
- 52 Chartwell Road - Luxury Estate Conversion
- 3-unit luxury estate redevelopment.
- NAV: $20.4M CAD / US $14.7M (CAD/USD $1.385)
- Fully owned since 2003, under permitting, complies with Bill C23
- First-lien ≤65% LTV
- 65% Tokens USD $9,574,007.22
- Estimated occupancy: Nov/Dec 2026
- Coverage: ~154% of Year-1 coupon
A South East Oakville ultra-luxury three-unit redevelopment. This project is in its design/pre-development phase; it will draw funding only after the above projects are secured. This staged funding mitigates timing risk, aligning capital deployment with project readiness. 35% Sponsor injection completed.
- New Development - Student Housing/Luxury Multi Plex
- Configuration: TBA
- Will be Fully owned and unleveraged.
- First-lien ≤65% LTV.
- NAV $ 20,000,000.00 CAD (USD FX CAD/USD $1.385) = USD $14,440,433.20
- Estimated occupancy: TBA
- Coverage: ~154% of Year-1 coupon
Reserve for New Acquisitions — Opportunistic Growth. Remaining funds are reserved for future high-quality acquisitions that meet Series A criteria (≤65% LTV, strong coverage ratios, etc.). This allows VULPIN to quickly pursue value-add or distressed opportunities without a new raise, enhancing diversification and upside for investors once 65% of Series A is placed.
Why Global Investors Choose VULPIN
Each unit in VULPIN Series A is issued at a fixed C$1,000 and divided between two LPs — the Debt Fund LP (secured income) and the Equity Upside Fund LP (capital gains). Together, they provide simple, predictable, and transparent performance.
First-Lien Security
- Your investment is protected by registered first mortgages on real Toronto and Oakville assets — the safest position in the capital stack.
Predictable Income, Real Growth
- Targeting a combined IRR of up to 20%, VULPIN delivers both secured fixed income and a share of developer profits at exit — a rare balance of stability and growth in one disciplined structure.
Backed by Real Assets. Validated by KPMG.
- Every project undergoes quarterly KPMG audits and AIC-certified appraisals, ensuring complete transparency and verifiable value for investors.
Your Investment is Secured by Real Assets
Your investment in VULPIN Tokens is always backed by real collateral and pre-funded reserves that protect coupon payments from day one.
LT Series
- Backed by a first mortgage at ≤65% loan-to-value.
- Comes with a reserve account pre-funded with 9–12 months of coupon payments (so interest is protected from day one).
MT Series
- Backed by a CMHC-insured first mortgage at ~45% loan-to-value.
- VULPIN’s portion is capped at 27.5%, keeping the total stack ≤72.5%.
- Comes with a pre-funded reserve account that ensures coupons start paying from day one.
A Proven Sponsor You Can Trust.
For 30+ years, PCMnow® and FoxyHome® have delivered over $1Billion in homes — from $30M+ luxury estates to Toronto multiplex housing — all with zero warranty claims.
With VULPIN, that track record is backed by conservative leverage, pre-funded reserves, and regulated ATS trading with allow-listed wallets.
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Our Impact:
$1 Billion+
worth of homes delivered.
30+
years of building excellence in Toronto and beyond.
$30M+
luxury estates delivered at the top of the market.
$100M+
current projects under management
Tax Benefits — Keep More of What You Earn
The Problem in Other Deals
- Participating Debt Interest(Canada): taxed at higher rates.
- Contingent Interest (U.S.):subject to unexpected withholding
The FoxyTokens Solution
- Coupons and make-whole are always calculated on US$100 face value — never on NAV or profits.
- Upside is separate. Red-Jar payments come from the sponsor’s equity, not the debt claim.
- Outcome: Blue-Jar coupons stay cleanly classified as interest.
The Investor Advantage
- Canadian investors: Eligible for 0% U.S. withholding tax under treaty rules.
- All investors: receive coupons and make-whole as plain interest, with fewer surprises in April.
- Bottom line: you keep more of what you earn.
The Builders Behind
$1 Billion of Real Estate Success!
Carlos JardinoCEO & Founder
With over 30 years of leadership at FoxyHome and PCMnow, Carlos has delivered ultra-luxury estates up to $30M+ and multiplex housing across Toronto — all with zero warranty claims. He has also helped raise $1.2B+ for cancer research in partnership with the Princess Margaret Foundation, reflecting his commitment to both excellence and impact.
Alexander JardinoPresident
Alexander drives business growth and execution, blending hands-on construction expertise with finance and strategy. He has overseen multiple flagship projects, introduced advanced sustainability practices, and leads the next generation of FoxyHome’s success.
FAQ's
What exactly is VULPIN Series A?
VULPIN Series A is a Canadian limited partnership designed to give investors both secured income and premium upside.
It’s composed of two coordinated LPs:
• Debt Fund LP – first-lien, interest-only lending up to 65% LTV, paying fixed coupons that step from 2% to 4% with a constant-yield make-whole at exit.
• Equity Upside Fund LP – provides investors 65% of the sponsor’s after-tax distributable gains, paid entirely from sponsor equity.
Together, they offer first-lien protection, reserve-backed income, and tax-clean participation in blue-chip Toronto and Oakville real estate.
How is my investment protected?
Your capital is secured by first-lien mortgages on institutional-grade Toronto and Oakville properties, with total leverage capped at 65% of appraised value.
A fully funded 12-month Debt Service Reserve Account (DSRA) holds one year of scheduled investor interest in advance. Coupons accrue from your Subscription Allocation Date and begin cash-paying once Gate-A (33.33% of the raise) is reached.
The DSRA bridges timing so income continues uninterrupted, and it must be replenished to 12 months before any equity distributions are made.
How and when do I receive income?
Coupons accrue from your Subscription Allocation Date. Cash-pay begins at Gate-A (33.33 % subscribed); any accrued amount pays on the first distribution date thereafter. Ongoing coupons follow the scheduled cadence.
How does the upside work?
Through the Equity Upside Fund LP, investors receive 65% of after-tax distributable gains at exit, while the sponsor retains 35%.
This upside is paid entirely from sponsor equity — after coupons, principal, and make-whole are fully paid — ensuring the Debt Fund LP interest stays fixed-formula and tax-clean.
It gives investors equity-style participation without giving up the protection of secured, first-lien debt.
What are the exit strategies?
VULPIN assets are designed for premium exits, not forced sales.
Investor returns can be realized through three primary exit doors:
1. Developer take-outs — when skyline or density rights unlock higher value.
2. Boutique condo sell-downs — converting select assets to retail PSF sales in strong markets.
3. Portfolio premiums — selling stabilized assets to REITs, family offices, or institutional buyers seeking branded, ESG-ready portfolios.
We sell into strength — never on a schedule.
Who can invest?
VULPIN Series A is open to accredited investors under the applicable private placement exemptions in:
• Canada (NI 45-106),
• United States (Reg D 506(c)), and
• International jurisdictions (Reg S or equivalent offshore exemptions).
Investors may subscribe directly into the Canadian master LP (in CAD) or through regulated feeder funds in the U.S., Luxembourg/Switzerland, Dubai, and Singapore — all with identical economics and compliance standards.
Are the returns tax-efficient?
Yes. The structure is specifically designed to keep investor returns treaty-clean and tax-efficient across jurisdictions.
• Debt Fund LP: Coupons and make-whole payments are classified as fixed-formula, non-participating interest on principal — not profit-linked or contingent — which generally avoids Canadian Part XIII withholding tax for non-resident investors.
• Equity Upside Fund LP: The upside is paid from sponsor equity, separate from the debt claim, preserving the tax-clean treatment of the fixed-income portion.
This structure allows both Canadian and international investors to receive predictable, after-tax income without cross-border tax leakage.
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