PV, Mit & Jeff
Tomorrow is the last day to subscribe to FCPRET at the current $13 unit price.
Tomorrow 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.
We do not write that line for theatre. We write it because of how the trust is structured. The next FCPRET unit price reflects the year end NAV review across the portfolio, verified by the completion of MNP's annual audit. That work is done. The new price takes effect for any subscription placed after tomorrow.
If you have been sitting on the fence, the next 24 hours actually matter. Talk to us before tomorrow's close
A lot of investors ask us why the deadline matters. Here is the plain answer.
FCPRET unit prices are reviewed quarterly based on internal NOI calculations on every property in the portfolio. Independent appraisals support the values. MNP audits the fund annually as the verification layer on top of that process.
Tomorrow's price update is driven by the year end NAV review combined with the completion of MNP's annual audit. Both pieces of work have been finalized. The new price reflects what the portfolio actually looks like on the books today.
Three things drive the unit price between reviews.
ONE. Net operating income. When we renovate a unit and rent moves from $900 to $1,650, that flows through to NOI. NOI growth flows through to value.
TWO. Cap rates in our markets. London, Ingersoll, and Chatham apartment cap rates are independent of what happens on the TSX or the bond market on any given day.
THREE. Capital improvements. New roofs, mechanical upgrades, suite renovations. Every dollar we put in is reflected in the next valuation.
Subscribe today, you receive units priced at our last close. Subscribe May 2, you receive units priced at the May 1 close.
8 Stabilized Apartment Buildings · Southwestern Ontario
$10K Minimum · RRSP / TFSA / RESP / LIRA Eligible
Distributions: 7% Annualized, Paid Monthly
If you are an existing investor and want to top up your position. Log into Equivesto and click Invest Now on the FCPRET offering page. Same fund, same DRIP discount, additional units priced at the current $13.
If you are new to FC and want to subscribe before the close. The path is straightforward.
ONE. Sign up at portal.equivesto.com/signup
TWO. Visit the FCPRET offering page
THREE. Click Invest Now
If you want to do this but feel like you need 10 minutes on the phone first. Reply to this email with the word "call" and we will send you a link to book a slot today or tomorrow.
432 Units · 25 Storey Purpose Built Rental Tower · London, ON
$100K Minimum · Cash Only · Accredited / Existing FC Investors
Targeted Return: 20% to 24% Annualized
"I had been comparing FCPRET against a couple of other private REITs for a few months. Kept putting it off. Eventually realized I was just delaying. Subscribed last year. The distribution shows up the 15th every month and when I emailed PV with a question last quarter he replied the same day. No surprises. That is what you actually want from this kind of investment."
Tomorrow April 30 EOD: subscriptions placed after this point transact at the new unit price. May 1: the new unit price takes effect. Wellington Towers allocations continue to fill on a first come basis. Thursday: investor Q&A. Friday: Thesis edition.
The fund does not stop taking capital after Wednesday. The mechanics are the same. The price per unit reflects what the next quarterly review concludes, and that review reflects the work that has been executed in the portfolio. Today is your window to subscribe at $13.
To your success,
PV, Mit & Jeff
P.S. The unit price does not always change every quarter. Some quarters the value stays flat. Some quarters it moves. What we can tell you is that the books close tomorrow and the next price reflects the next set of numbers. Whatever happens, today is your window to subscribe at $13. Reply with "call" and we will get you on the phone before EOD tomorrow.
By the Numbers
