Impact Investment Funds in Canada
With impact investing, investors intentionally aim to secure a measurable positive impact while also getting a financial return. This website helps people search for impactful funds available to Canadians.
|Product||New Market Funds Rental Housing Fund I Limited Partnership|
The goal of NMF Rental Housing Fund I LP is to bring long-term affordable multi-family rental housing inventory to Canadian cities. There are three main points that distinguish NMF from other Canadian funds that are merely meeting market demand for housing: first, NMF seeks to fill community needs solely by working with community-based housing providers-- non-profits and co-ops; second, NMF seeks to address the affordability gap by insuring that the rental housing it provides is affordable to households earning, on average, 80% or less of the area median income; third, to best preserve long-term affordability NMF will only exit to community-based ownership - not for profits, co-ops or government. The Fund provides post-construction equity as a means to secure construction financing. Structured exits through a sale to the non-profit partner on each investment are negotiated on the front-end, increasing certainty on returns, while mitigating risk., The Fund is expected earn to risk-adjusted market rate returns. Investments in properties are made post-construction and are protected by priority of return and capital. The Fund targets a quarterly cash re-distribution of capital (4% annualized) as well as a lump sum upon exit. The target total investment return is 6% IRR net of fees.
|Legal Structure||Limited partnership|
|Asset Class||Real estate|
|SIZE, PERFORMANCE AND RISK|
|Expected Performance||4-8 percent|
|Performance to Date||At expectation|
|Impact evidence type||Impact Data. Can provide data that explicitly informs assessment of additionality and/or cost-effectiveness|
|Iris Environmental Objectives|
|Iris Target Groups|
|Regions Invested In|
|Issuer||New Market Funds|
|Address||425 Carrall Street, Suite 90, Vancouver BC V6B 6E3|
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