The Forum Real Estate Income and Impact Fund reported a Q1 2024 return of 2.18% and acquired a 50% interest in a newly built student accommodation property in Winnipeg, reflecting its strong positioning in a competitive rental market.

Target Information

The Forum Real Estate Income and Impact Fund (REIIF) has recently reported its results for the first quarter ending March 31, 2024. During this period, Series F investors in the Fund achieved a return of 2.18%, which included a monthly distribution of 3.97 cents per Series F unit, translating to an annualized projected return of 4.2%.

In line with its investment strategy, the Fund focuses on institutional-quality multi-family apartments and purpose-built student accommodations (PBSA) mainly in supply-constrained markets across Canada. As of the end of March 2024, REIIF holds a 50% stake in a newly constructed, fully leased PBSA property named The ARC, situated in Winnipeg, Manitoba, near the University of Manitoba and addressing a local shortfall of approximately 20,000 beds.

Industry Overview in Canada

The Canadian rental housing market is currently experiencing a nationwide vacancy rate of just 1.5%, the lowest level seen in decades. This tight market underlines t