Up from $10 at inception in 2023.
PV, Mit & Jeff
Three years is enough time to move past the pitch and look at what actually happened. So here it is.
Today we are formally announcing the new FCPRET unit price. $13.40 per unit, up from $10 at inception in 2023.
The new price reflects the year end NAV review across the portfolio. Net operating income up. Capital improvements completed across the buildings. Independent appraisals supporting the values. Year end financials audited by MNP LLP.
But the number itself is abstract until you put a dollar sign in front of it. So today we are running the math on what the journey from $10 to $13.40 actually means in real money.
Cash distributions vs DRIP. 55% to 66% total return. 15.7% to 18.4% annualized.
That is the headline. Now let us break down where it came from.
Two engines drove the return.
Engine 1: Capital appreciation ($34,000). At inception, the unit price was $10. You bought 10,000 units with your $100,000. Today, those same 10,000 units are worth $13.40 each. Your unit value is $134,000. The unit price went up because the underlying portfolio actually grew.
Engine 2: 7% cash distributions ($21,000). While the units were appreciating, you also received monthly cash distributions targeting 7% annualized. On a $100,000 position, that works out to approximately $7,000 per year. Over three years, $21,000 in cash that already hit your bank account.
$134,000 in unit value + $21,000 in cash = $155,000 total. A $55,000 return on $100,000.
8 Stabilized Apartment Buildings · Southwestern Ontario
$10K Minimum · RRSP / TFSA / RESP / LIRA Eligible
Targeted Return: 15% Annualized
Current unit price: $13.40
Investors who enrolled in our DRIP program from day one came out ahead.
DRIP reinvests every monthly distribution into additional units at a 2% discount to the unit price. Each dollar of distribution buys ~2% more units than it would at market. Those extra units then appreciate alongside the rest of your position.
Over three years, that compounding turns the same $100,000 into approximately $166,000 sitting in units. That is $11,000 more than the cash path, on the same investment, same fund, same exposure.
For investors who do not need the monthly cashflow, DRIP has been the higher conviction play. The 2% discount on every reinvestment is essentially a guaranteed buy-side advantage, layered on top of unit price appreciation. The longer you hold, the wider the gap gets.
The unit price moved from $10 to $13.40. The 7% cash distributions landed in investor accounts every month. DRIP investors compounded into ~$166,000 on a $100,000 starting position. The math worked.
That is what we have to show for the first three years.
432 Units · 25 Storey Purpose Built Rental Tower · London, ON
$100K Minimum · Cash Only · Accredited / Existing FC Investors
Targeted Return: 20% to 24% Annualized
If you are an existing investor, you can top up at the new $13.40 unit price any time. If you are new to FC and want to get in before the next quarterly review, the offering is open.
Reply with "call" and we will get you on the phone this week. Or click below to subscribe directly.
To your success,
PV, Mit & Jeff
P.S. The compounding math is the part most investors miss when they evaluate a return profile. Run a 17 to 18% target with DRIP for ten years on $100,000 and the position is over $480,000. Twenty years and it is over $2.3M. The point of FCPRET was never to chase a year. It was to build a position that compounds quietly over a decade. The first three years is just the starting point.
