Forum Real Estate Income and Impact Fund

Overview

The Forum Real Estate Income and Impact Fund (REIIF) is an institutional-quality, open-ended private fund that primarily invests in new-age multi-family rental apartments, purpose-built student accommodations (PBSA), and furnished rentals located in supply-constrained markets across Canada. The fund aims to provide a tax-efficient, stable, and growing income stream along with long-term capital appreciation, targeting an annual total net return of 8-12%. REIIF's investment strategy emphasizes a sector-leading impact and ESG-driven portfolio designed to enhance yields and total returns while ensuring diversity and resiliency of income. The fund maintains a conservative debt-to-asset ratio of approximately 55% and has a weighted average mortgage coupon of 3.99% with a term to maturity of 4.6 years. As of December 31, 2024, REIIF's assets under management (AUM) were $2.4 billion, comprising 31 properties with an average asset age of 7.5 years. The fund's portfolio includes over 10,500 beds and 3.1 million square feet of residential gross leasable area (GLA). Notable properties include ALMA @ Guelph, The Annex, and See-More in Halifax. REIIF's disciplined valuation process, which includes external appraisals on approximately 25% of the portfolio quarterly, has supported fair value gains driven by demonstrated rental growth and cap rate compression. The fund is committed to sustainability and responsible investing, creating value that benefits the communities in which it invests.

Investment Focus

• Accredited Investor
• Subsequent Investment: $25,000

Portfolio Companies