Forum Real Estate Income and Impact Fund Reports Q1 2024 Results

The Forum Real Estate Income and Impact Fund (REIIF) announced a first-quarter return of 2.18% for Series F investors. This includes a monthly distribution correlating to an annual rate of 4.2%. The release detailed the financial stability and strategic acquisitions of the fund as of March 31, 2024.

REIIF recently acquired a 50% interest in a property near the University of Manitoba, expanding its portfolio to 12 properties covering over 2,000 residents. Despite new regulations limiting international student permits, the fund's focus on high-quality public institutions preserves its investment appeal. The Canadian rental market continues to support REIIF’s strategy, with a low national vacancy rate and significant demand for new housing.

The fund's portfolio showed strong performance with a property occupancy rate of 97.5% and a Net Operating Income increase of 16% from the previous year. The fund also commenced renovation projects to enhance property value and attract higher rents. Additionally, the fund maintains a conservative debt profile and robust liquidity, emphasizing its stable financial footing.