PV, Mit & Jeff
Two events sit on the calendar this week. The Bank of Canada decides on rates Tuesday. The new FCPRET unit price takes effect Wednesday for any subscriptions placed after April 30. The first one is going to dominate every financial headline you read between now and Tuesday afternoon. The second one determines the price you pay per unit if you subscribe after this month.
Wednesday is not when the door closes. It is when the price tag changes. The fund keeps taking capital. The number of units you receive per dollar does not stay the same.
Today's briefing is a quick walk through what actually happens at FC on Wednesday and how the timing affects your subscription. Talk to us before the price changes
Wednesday April 30. The new FCPRET unit price takes effect. Subscriptions placed after this date transact at the updated price.
The work is already done. Our internal NAV review has been completed based on year end stabilized NOI across the portfolio. MNP is in the process of finalizing the year end audit as the verification layer on top of that process. The new unit price reflects that work.
Subscriptions before Wednesday EOD. Lock in the current unit price. Capital is allocated immediately into the pipeline, paying down construction draws, funding renovation programs, or seeding the deal we are negotiating right now in one of our submarkets.
What this means in practice. Same fund. Same operations. Same monthly distribution on the 15th. The number of units you receive per dollar invested depends on whether you subscribe before or after April 30.
25 Storey Purpose Built Rental · Southwestern Ontario
$100K Minimum · Accredited / Existing FC Investors
Targeted Return: 20% to 24% Annualized
If you are evaluating your first position. Subscribing before April 30 locks in the current unit price. Subscribe after April 30 and you transact at the updated price already determined by the year end NAV review and being verified by MNP. The fund itself does not change. The price per unit does.
If you are an existing investor adding to your position. Same mechanics. Same timing. The DRIP discount continues to apply on reinvested distributions. Adding capital before Wednesday secures the current unit price for those new dollars and puts more units to work before the next monthly distribution lands on the 15th.
If you are still doing diligence. Reach out today. We can walk through the offering documents, the audited financials, and the operational reporting on a thirty minute call. If you decide to subscribe after Wednesday you can absolutely still do that. Just know the unit price will reflect the next quarterly review by then.
Cash Flowing Apartment Buildings · Southwestern Ontario
$10K Minimum · RRSP / TFSA / RESP / LIRA Eligible
Distributions: 7% Annualized, Paid Monthly
"I had cash sitting in my RRSP earning almost nothing. GICs at 4% that barely kept pace with inflation. My accountant mentioned there were exempt market options that RRSP accounts could hold. I found Foundation Capital and the timing worked out for my contribution room. The 7% in distributions alone beats what I was getting before."
Tuesday morning: BoC rate decision, 9:45 AM ET. Wednesday April 30: the new FCPRET unit price takes effect for subscriptions placed afterwards. Tomorrow we go inside the portfolio for a tenant turnover walkthrough at one of our London buildings. Thursday is the next investor Q&A.
The BoC decision Tuesday is going to dominate inboxes and timelines. We will spend roughly twenty minutes reading what comes out of it. Then we will go back to leasing units, signing renewals, and reviewing the next deal in our pipeline. The 15th does not move because the financial press is loud.
To your success,
PV, Mit & Jeff
P.S. Three days until the FCPRET unit price recalibrates. If you want to subscribe at the current price rather than the one set by the next quarterly review, reply to this email with "interested" and we will set up a call today or tomorrow. We will hold the line open until Wednesday EOD.
By the Numbers
