Urbanfabrix Repositioning Fund I
Investment Highlights
$25,000
24 months
Target Equity IRR (Net of fees)*
20.30%
Target Equity Multiple (Net of Fees)*
1.45x
Distributions
Paid upon the sale of repositioned assets
Redemptions
Not redeemable by unitholder
Investment Eligibility Status
Accredited investors only
Registered Plan Eligibility
No
* Historical performance does not guarantee future returns. Investing in real estate is risky and you should always seek professional advice including tax advice before investing.
About the Fund
Single family homes in the city are primed for renewal, as current condo-dwellers transition to a different life stage expecting new finishes and modern amenities in their next homes. In a market segment currently dominated by mom-and-pop operators, Urbanfabrix will bring a sophisticated, programmatic approach to acquire well-located, but physically outdated single family homes in Toronto and transform them into well-designed, modern, premium dwellings. The fund targets neighbourhoods that are located along major transit lines or with quick access to major thoroughfares. Examples include The Beach, Riverdale, Corktown, High Park, Mimico, etc.
CASE STUDY: COMPLETED PROJECTS
The Birchwood
Project Year: 2020
Location: Birchmount/Kingston Rd.
Description: Lot severance, two new single family datached
Investment Timeline:36 months
Purchase Price:$735,000
Total Construction Cost (excl. financing):$1,175,000, $276psf
Sale Price:$3,132,000
Annualized IRR:30.4%
Equity Multiple:19x
Front Facade (before)
169 Birchwood Ave
Front Facade (during construction)
169 Birchwood Ave
Located atop the Scarborough Bluffs just east of the Toronto Hunt Club, The Birchwood is a collection of two luxury contemporary homes located at Kingston Road and Birchmount Avenue in the trendy Toronto neighbourhood of Birch Cliff.
The project involved acquiring an older bungalow located on a double lot, completing the severance into two smaller lots, and then demolishing and building two new detached homes. The homes featured unique, premium finishes, targeting urban buyers in this
gentrifying node.
The surrounding area is rich with schools, retail shops, restaurants, parks and ravines with the beach and its endless attractions literally minutes away. The Birchwood is also a stone’s throw from one of Toronto’s most coveted neighbourhoods, The Beach.
Front Facade (after)
169 Birchwood Ave
Kitchen (after)
169 Islington Ave
Bedroom (after)
169 Islington Ave
Located in a gentrifying node of the city, the property was close to Islington/Lakeshore Blvd., in the New Toronto neighbourhood just west of the city centre.
An old detached home, originally built in 1927, and previously converted to a triplex was completely renovated back into a single family detached dwelling, complete with modern finishes and appliances.
CASE STUDY: COMPLETED PROJECTS
The Islington
Project Year:: 2016
Location: Islington/Lakeshore Blvd.
Description: Detached single family repositioning
Investment Timeline:6 months
Purchase Price:$549,000
Total Construction Cost (excl. financing):$125,000, ~85psf
Sale Price:$930,000
Annualized IRR:208.6%
Equity Multiple:1.7x
Front entrance (after)
169 Islington Ave.
Urbanfabrix leverages existing trade relationships not available to mom-and-pop operators; trades successful in this space have a particular operating structure that allows them to execute multiple small projects in different locations at the same time. The fund also has a programmatic approach to construction management, which, combined with standard scopes, will allow for increased certainty of construction cost and timelines.
About Front Street Development Group
Front Street is a real estate investment company focused on surfacing value in underutilized residential real estate, targeting urban properties throughout the Greater Toronto Area.
About Fundscraper Capital Inc.
Fundscraper is the exclusive Exempt Market Dealer for this fund. Fundscraper is an online platform that facilitates direct investments into real estate projects sponsored by proven real estate developers and owners.
Fundscraper makes real estate investing easy, transparent and accessible to qualified investors. Our technology follows best in class compliance standards, simplifies the transaction and compliance processes, and provides data driven insight for investment and lending.
Fundscraper is registered in Ontario, Alberta, British Columbia, New Brunswick, PEI, and Quebec as an Exempt Market Dealer (NRD: #53460) and with the Financial Services Regulatory Authority of Ontario as a Mortgage Brokerage (FSRA# 12859).
Our Team
Luan Ha
CEO,
Dealing Representative
Terence Cheng
Vice-President, Operations,
Dealing Representative
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