PV, Mit & Jeff
If you're reading this, there's a good chance you found us through a Facebook ad. Maybe it was a video of one of our partners explaining how apartment buildings generate income. Maybe it was a stat about GICs barely keeping pace with inflation. Either way, you clicked. And now you're probably wondering: is this real?
We don't need you to trust a pitch deck. We need you to trust the math, the buildings, and the people managing them. That takes time. We're not in a rush.
That's the right question to ask. We'd be concerned if you weren't asking it. So today, instead of our usual market analysis, we're going to have the conversation we'd have with you if you were sitting across the table from us right now. Five things. No pitch. Just the honest answers every new investor deserves before making a decision. Or skip ahead and book a call
That's the number of consecutive monthly distributions FCPRET has paid since inception. Through rate hikes, lockdowns, inflation spikes, and market sell offs. The distribution cleared on the 15th. Every single month. No exceptions.
The number one concern we hear. And honestly, it should be. The internet is full of investment pitches that don't survive five minutes of scrutiny. Here's how we're different.
FCPRET is sold through Equivesto Canada Inc., a licensed Exempt Market Dealer regulated by the Ontario Securities Commission. That means every subscription goes through a compliance review before your money is accepted. Our financials are audited annually by MNP, one of Canada's largest independent accounting firms. You receive monthly investor statements. You can log into your portal and see your holdings anytime. This isn't a handshake deal. It's a regulated securities offering backed by real property, real reporting, and a real paper trail.
The buildings have addresses. The team has names. The auditor has a reputation. That's the baseline.
Fair question. Let's break it down. The ~15% targeted total return comes from two sources: 7% in cash distributions paid monthly, and approximately 8% in capital appreciation from value add renovations and rent increases.
The 7% cash component isn't speculative. It comes from rent collected on 350+ apartment units across Southwestern Ontario. Real tenants. Real leases. Real cheques. The appreciation comes from our renovation strategy: we buy well located apartment buildings, upgrade units during natural turnover, and increase rent to market rates. That improves Net Operating Income, which increases the building's appraised value, which flows into your unit price.
It's not magic. It's operational real estate. The same playbook institutional landlords have used for decades. We just made it accessible at a $10,000 minimum.
Cash-Flowing Apartment Buildings · Southwestern Ontario
Targeted Total Return: ~15% · Unit Price: $13.00
Distributions: 7% Annualized, Paid Monthly · RRSP/TFSA Eligible
We're not going to pretend this is risk free. It's not. Every investment carries risk and we want you to understand ours.
Illiquidity. This is a private trust. You can't sell your units on the stock exchange like a public REIT. Your capital has a recommended hold period. That said, we keep cash reserves available specifically to process redemptions when investors need liquidity. Illiquidity is what allows us to buy, renovate, and hold apartment buildings without being forced to sell during a downturn. But it means this should be capital you're comfortable holding for the long term.
Targeted, not guaranteed. We target 15% total returns and we've met that target every year since inception. But "targeted" is the key word. Tenants can leave. Costs can rise. Markets can shift. That said, we're confident in our position because multi-family apartments are one of the most recession resistant asset classes in real estate. People always need a place to live. Demand doesn't disappear during a downturn. We mitigate further by owning 350+ units across multiple buildings, by screening tenants rigorously, and by managing every building ourselves. Past performance does not guarantee future results.
Real estate specific risks. Interest rates, insurance costs, regulatory changes, unexpected maintenance. We've navigated all of these since inception without missing a distribution. But past performance is not a promise.
Three partners. Different backgrounds. One thesis: apartments are infrastructure, not speculation.
Mit and PV are both CPAs. Every acquisition, every financial model, every distribution calculation goes through their lens first. If the math doesn't work, we don't buy. Jeff has been buying and managing rental properties since 2012. Students, duplexes, triplexes, and now full apartment buildings. The screening systems, the renovation playbook, the property management processes. All battle tested.
Between the three of us: $60M+ in assets under management, 350+ units, and a track record of distributions paid on time, every month, since inception.
Nothing happens until you're ready. There's no countdown timer. No high pressure follow up. Here's how the process works:
Step 1: You book a 30 minute call with our team. We'll walk you through the fund, the portfolio, the returns, and the risks. Ask anything. We mean it. Step 2: If it's a fit, we send you the offering documents. You review them on your own time. Share them with your accountant, your advisor, your spouse. No rush. Step 3: When you're ready, you complete the subscription through Equivesto (our licensed dealer). The minimum is $10,000. You can invest through your RRSP, TFSA, RESP, LIRA, or a non-registered account. Step 4: Your first distribution lands on the 15th of the following month. Every month after that, like clockwork.
Some investors complete the process in as little as a week. Others take a month. The timeline is entirely yours.
Purpose-Built Rentals · CMHC Financing + GST Rebate Eligible
Government Grants + De-Risked Capital Stack
Targeted Returns: 24% to 27% Annualized
"I was skeptical. I'd seen a lot of investment opportunities that didn't hold up to scrutiny. So I spent about a month reviewing the offering documents, the portfolio, the regulatory structure. Everything checked out. The team answered every question without pressure. A year in, the distributions have been consistent and the reporting is exactly what they promised."
Catch the latest from PV, Mit, and Jeff. New episode just dropped.
Tomorrow we're back with the Monday Briefing. Canada's GDP forecast just got downgraded to 0.7% for 2026. The Bank of Canada's next rate decision is April 29. And CREA is forecasting a 2.8% rise in national home prices while Ontario continues to underperform. We'll break down what it all means for your capital.
If you're new here, welcome. We send these daily, Monday through Saturday. No spam. No fluff. Just real estate analysis, market data, and fund updates that our investors actually read. Stick around. Ask questions. We're not going anywhere.
To your success,
PV, Mit & Jeff
P.S. If you joined this newsletter recently and you're still figuring out if this is for you, that's exactly the right place to be. We built this daily note so you could get to know us before you ever speak to us. Read for a week. Read for a month. When you're ready, we'll be here. Or if you want to skip the line: just reply to this email and say "interested" and we'll set everything up for you.
