Impact Investment Funds in Canada

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.

• SDG 11 – Sustainable cities and communities

• Energy and fuel efficiency
• Sustainable land use

• Children
• Adolescents
• Adults
• Elderly adults
• People with disabilities
• Minority populations
• Women
• Pregnant women
• Other at-risk populations

• Canada