Forum's Acquisition to Transform Canadian Student Housing Market

Forum Asset Management's Real Estate Income and Impact Fund (REIIF) is set to acquire Alignvest Student Housing Real Estate Investment Trust's portfolio for $1.686 billion. This transaction will elevate REIIF as Canada's leading owner of purpose-built student accommodations, managing nearly 10,500 beds. The acquisition aims to expand Forum's development program to meet the rising demand for high-quality student housing in key Canadian markets.

Alignvest unit holders can roll their investments into REIIF, benefiting from a diversified portfolio and access to Forum's $3+ billion development pipeline. For REIIF unit holders, the deal enhances scale and diversification, tapping into new university markets.

Richard Abboud, CEO of Forum, stated that this acquisition underscores their commitment to providing quality student housing across Canada. Closing is anticipated by the end of 2024, pending approvals.