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Brookfield invests up to $100 million in Forum Asset Management's Real Estate Income and Impact Fund ("REIIF"), the Leading Owner of Purpose-Built Student Accommodations in Canada
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Brookfield invests up to $100 million in Forum Asset Management's Real Estate Income and Impact Fund ("REIIF"), the Leading Owner of Purpose-Built Student Accommodations in Canada
TORONTO, ON / ACCESS Newswire / February 6, 2025 / Forum Asset Management ("Forum") is pleased to announce a strategic investment from Brookfield Asset Management ("Brookfield") in support of Forum's acquisition of Alignvest Student Housing. Brookfield, through its real estate solutions strategy, will invest up to $ 100 million in Forum's private REIT, the Forum Real Estate Income and Impact Fund ("REIIF").
REIIF is a $2.4 billion institutional quality, private REIT that is the leading owner and investor of purpose-built student accommodations across Canada. The fund serves top university markets and is addressing the growing demand for attainable, high-quality housing, and leverages ESG principals for enhanced risk-adjusted returns. REIIF is comprised of 31 institutional-quality properties and approximately 10,500 beds.
Brookfield's existing global portfolio of student accommodations is valued over $7 billion with 60,000 beds across Europe, the US, UK and now, in partnership with Forum and REIIF, in Canada. Brookfield's investment in REIIF is underpinned by attractive Canadian long-term supply demand-fundamentals and the institutional quality of REIIF's portfolio.
Richard Abboud, Founder and CEO of Forum, said, "This important investment by Brookfield into REIIF is validation of our strategy and underscores the opportunity for large scale institutional investment in Canadian student housing. Brookfield's capital will enhance REIIF's financial flexibility, support portfolio growth, and strengthen our ability to deliver critically needed, professionally managed student housing across Canada."
About Forum Asset Management
Forum is an investor, developer and asset manager operating across North America for over 28 years, focusing on real estate, private equity and infrastructure, with a strategic concentration in housing. We are committed to sustainability, responsible investing and creating value that benefits our stakeholders and the communities in which we invest, what we call our Extraordinary Outcomes.™
About the Forum Real Estate Income and Impact Fund (REIIF)
Forum Real Estate Income and Impact Fund (REIIF) is a sector-leading fund consolidating institutional-quality purpose-built student housing, as well as multi-family and furnished rentals, in supply-constrained markets. REIIF delivers impact and Extraordinary Outcomes™ to investors, enhancing yields and total returns, maintaining diversity and resiliency of income, while benefiting students-and cities-across Canada.
Contact Information:
Lorraine Cardenas, Executive Assistant & Corporate Operations
[email protected]
647-618-6981
Disclaimer & Forward-Looking Information
This press release may contain forward looking information and statements concerning possible or assumed future operations, performance or results, which statements are preceded by, followed by or that include words such as "believes", "expects", "potential", "anticipates", "estimates", "intends", "plans" and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. As of the date of this press release, Brookfield has, through a special purpose limited partnership, invested twenty-five million dollars and has the option, at its discretion and subject to certain terms and conditions, to increase its investment in REIIF up to one hundred million dollars in Canadian funds in the aggregate. These terms and conditions could affect the timing or likelihood of additional capital being deployed. There can be no guarantee that Brookfield will invest the full investment option amount. Prospective investors and other readers are strongly encouraged to carefully review the risk factors, assumptions, and uncertainties set out in REIIF's offering memorandum before making any investment decisions. The offering memorandum contains important information about REIIF's investment strategy, potential risks, and other factors that should be considered.
Except as may be required by Canadian securities law, Forum is under no obligation to update any forward- looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.
SOURCE: Forum Asset Management Inc.
View the original press release on ACCESS Newswire
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