Forum Real Estate Income and Impact Fund Q3 2024 Results

The Forum Real Estate Income and Impact Fund (REIIF) reported a 10.32% time-weighted return for Series F investors in Q3 2024, including a 3.97 cents per unit monthly distribution. Over 12 months, a 10.9% return highlights the fund's steady performance amid Canadian housing supply challenges. With an allocation to purpose-built student accommodations (PBSA), REIIF benefits from increased demand due to limited student housing options.

A significant milestone was reached with the $1.686 billion acquisition of the Alignvest Student Housing REIT portfolio. Approved by over 99% of stakeholders, this expands REIIF's portfolio to 10,500 beds across major Canadian university markets.

REIIF's strategic acquisition in Ottawa of a rental community further enhances its housing options. With an occupancy rate of 97.2% for the 2024/2025 academic year, rental growth and disciplined management contributed to Adjusted Funds from Operations. The fund maintains a conservative net debt ratio of 43.8% and $70M liquidity.