The Forum Real Estate Income and Impact Fund has significantly expanded its portfolio with the acquisition of Alignvest Student Housing REIT, positioning itself as a leading owner and developer of purpose-built student accommodations in Canada.

Information on the Target

The Forum Real Estate Income and Impact Fund (REIIF) is a leading real estate investment fund focused on acquiring and managing purpose-built student accommodations (PBSA) in Canada. As of December 31, 2024, REIIF has demonstrated strong performance, achieving an annual time-weighted return of 12.20% for Series F investors. The fund's annualized return of 11.20% since its inception showcases its ability to deliver superior results, often exceeding the targeted return range of 8-12%.

One of the notable attributes of REIIF is its strategic acquisition of several assets, including the Alignvest Student Housing REIT (ASH) portfolio. The successful integration of ASH significantly increased REIIF’s gross asset value to $2.4 billion, positioning the fund as a leading developer and owner of PBSA in Canada. With approximately 10,500 beds across 31 properties in nine cities and six provinces, REIIF has established a robust portfolio dedicated to meeting the high demand for student housing.

Industry Overview in Canada

The demand for student housing in Canada continues to grow, driven largely by chronic supply shortages in key university markets. As of 2024, Canada’s largest universities have a combined enrollment exceeding 1.4 mill