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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.
INVESTMENT DETAILS |
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Product | New Market Funds Rental Housing Fund I Limited Partnership |
Product Description | 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 |
Investment Availability | Closed |
SIZE, PERFORMANCE AND RISK | |
Product AUM | $20-50M |
IMPACT DETAILS |
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Impact evidence type | Impact Data. Can provide data that explicitly informs assessment of additionality and/or cost-effectiveness |
UN SDGs |
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Iris Environmental Objectives |
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Iris Target Groups |
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Regions Invested In |
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ISSUER DETAILS |
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Issuer | New Market Funds |
Address | 425 Carrall Street, Suite 90, Vancouver BC V6B 6E3 |
Telephone Number | 604-674-7441 |
Website | newmarketfunds.ca |
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