Until the FCPRET Canada Day 2% bonus closes at midnight July 1. The countdown drops into single digits today. Here is the briefing.
PV, Mit & Jeff
The countdown to the Canada Day bonus drops into single digits today. If you have been reading the daily notes and weighing the decision, this is the briefing version of the whole picture in four minutes.
If today is the first daily note you are reading, or if you have been reading along but want the whole picture in one place, this is the briefing version. Four minutes covers the thesis, the structural setup, the bonus math, and the simplest path to a closed subscription.
Canadian multi family apartments are the quietest outperformance story in Canadian investing. Over twenty years, the asset class beat office, retail, industrial, and hotel real estate on risk adjusted returns. The drivers (essential demand, inflation linked cash flow, a 3.5 million unit housing shortage that does not close this decade) are structural. FCPRET owns the existing stock at a mid market rent band. Wellington Towers is the development engine building the next chapter.
· The recession call got walked back. RBC and KPMG both now describe Q1 as a soft patch. The pivot is constructive for multi family on the margin.
· CMHC tightened underwriting on June 19. Every new project from Friday forward pays a higher cost of capital than every project that locked before then. Existing stabilized portfolios with locked CMHC debt now sit at a structural advantage.
· Institutional rotation is visible. CPP Investments sold its own Toronto HQ. Concert, Brookfield, Stafford, and Capital all rotated cheques into Canadian rental in the same fortnight. The buyer pool for Wellington Towers is already telegraphing its need.
Mit and Jeff sit down with Canadian real estate investors on what is actually breaking the market right now, and how disciplined operators are positioning around it.
Every subscription completed between now and midnight July 1 receives 2% in free FCPRET units issued on top of the units you subscribed for. No additional capital required. The bonus units earn the same monthly distribution and appreciate alongside the rest of the position.
1. Decide whether the position should be inside an RRSP, TFSA, RESP, LIRA, or cash account. (We are walking through that tomorrow if you want the full deep dive.)
2. Decide on subscription size. Minimum is $10,000. There is no cap. The 2% bonus applies to every dollar.
3. Complete the subscription online through Equivesto, our licensed Exempt Market Dealer. The process is fully digital. Or book a 15 minute call with us and we will walk through the projections on your specific account type and subscription size.
The bonus window closes at midnight July 1. There is no extension and no exception.
432 Units · 25 Storey Purpose Built Rental · London, ON
$100K Min · Cash Only · Accredited / Existing FC Investors
Tranche 1 Extension: 24% Net Annualized Targeted Return
$10K Minimum · RRSP / TFSA / RESP / LIRA Eligible
Targeted: 15% Annualized (7% cash monthly + 8% appreciation)
Subscribe by Canada Day for +2% bonus units (9 days left)
Have a strong week,
PV, Mit & Jeff
P.S. Reply Briefing if you want a personalized version of the table above for your specific subscription size and account type. The 2% bonus window closes at midnight July 1.
