{"id":370791,"date":"2026-05-18T22:41:00","date_gmt":"2026-05-19T02:41:00","guid":{"rendered":"https:\/\/www.connectcre.ca\/?post_type=awards&p=370791"},"modified":"2026-05-26T16:20:36","modified_gmt":"2026-05-26T20:20:36","slug":"forum-reiif-and-alignvest-teams-in-sale-of-ash-reit","status":"publish","type":"awards","link":"https:\/\/www.connectcre.ca\/fr\/awards\/2026-canadian-transactions-of-the-year\/eastern-canada\/forum-reiif-and-alignvest-teams-in-sale-of-ash-reit\/","title":{"rendered":"Both Forum REIIF, Alignvest Gain From ASH REIT Deal"},"content":{"rendered":"\n

In early 2025, Forum Real Estate Income and Impact Fund completed its $1.69-billion acquisition of Alignvest Student Housing (ASH) REIT.<\/p>\n\n\n\n

ASH REIT’s purchase price represented a 31% premium on the fair market value of the REIT’s class F units since the agreement was announced in November. The deal fulfilled ASH REIT controlling unitholder Alignvest Student Housing’s goal of generating ongoing yield through consistent cash distribution, as well as meaningful upside via equity appreciation, from the day that ASH REIT went public.<\/p>\n\n\n\n

The REIT’s large sale came only seven years after the entity was founded in 2018. Forum regarded the deal as a \u00ab\u00a0defining moment\u00a0\u00bb in its history. The REIIF financed a portion of the acquisition through a consortium of Canadian lending partners that included BMO, KingSett Capital, and TD Asset Management.<\/p>\n\n\n\n

These are some of the reasons why Forum Real Estate Income and Impact Fund and Alignvest were honoured with Connect Canada’s Canadian Transactions of the Year Awards for completing the REIT’s sale. Forum’s recipients are Richard Abboud, founder and CEO of majority owner Forum Asset Management, and Aly Damji, a Forum managing partner and the REIIF’s head. Sanjil Shah, Alignvest’s founder and managing partner has also been honoured. The awards highlight deals and closings impacting Canada’s commercial real estate sector.<\/p>\n\n\n\n

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