Alignvest Student Housing REIT Unitholders Overwhelmingly Approve Combination with Forum Real Estate Income and Impact Fund (REIIF)

TORONTO, ON / ACCESSWIRE / November 21, 2024 / Forum Asset Management Inc. ("Forum") is pleased to announce that the unitholders ("ASH Unitholders") of Alignvest Student Housing Real Estate Investment Trust ("ASH REIT") overwhelmingly approved the proposed combination with REIIF and related transactions (the "Transactions"), with over 99% of the votes cast on the resolutions by all ASH Unitholders voting in favour.

Richard Abboud, Founder & CEO of Forum Asset Management, said, "The level of support received from the unitholders of ASH REIT clearly indicates their confidence in REIIF's strategy and continued growth and income opportunities in the Canadian student housing sector, in which REIIF will become a leading owner upon closing."

The Transactions are currently targeted to close before the end of 2024, subject to customary closing conditions. Competition Bureau clearance has been received for the Transactions.

About Forum Real Estate Income and Impact Fund

REIIF invests principally in institutional-quality, multi-family rental apartments, purpose-built student accommodations and furnished rentals located in supply constrained markets in Canada. REIIF also strives to deliver a sector-leading impact and ESG-driven portfolio designed to enhance yields and total returns, with a focus on maintaining diversity and resiliency of income.

For information about REIIF, please visit: www.forumreiif.ca.

About Alignvest Student Housing Real Estate Investment Trust

ASH REIT was launched in 2018 to consolidate the fragmented, institutional grade, purpose-built student accommodation real estate sector across Canada. Over the past seven years, ASH REIT has built a high-quality portfolio of 17 properties with 7,159 beds across seven university-focused markets.

FOR FURTHER INFORMATION PLEASE CONTACT:

Aly Damji
Managing Partner, Forum
reiif@forumam.com

The information is based on the market analysis and expectations of Forum, REIIF and REII LP and should not be relied upon by the reader as research or investment advice regarding REIIF and REII LP. The information presented herein is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made by means of an offering memorandum on a private placement basis.

SOURCE: Forum Asset Management Inc.