CIPREF Announces 10% Distribution Increase, Marking Continued Income Growth

CIPREF Increases Quarterly Distribution by 10%

Dated: April 14, 2026

To all CIPREF Partners:

We are pleased to announce that the 2026 second quarter distribution will be increased from $0.5607 per unit to $0.6168 per unit.

This is a 10% increase in the distribution rate, and the fifth increase of the distribution rate since the Fund’s inception.  This increase is possible due to the strong growth of the Fund’s cash flow from rental increases and recent accretive acquisitions. 

This contrasts with many competing open-end real estate funds that are gating, cutting, or suspending distributions and redemptions.  CIPREF has never gated, cut, or suspended distributions since inception.  That CIPREF can increase its distribution in this environment is a testament to the strength of the underlying investment strategy. 

CIPREF follows a simple strategy:

Buy well-situated properties that are leased to tenants with strong covenants on a long-term basis using conservative leverage to ensure that the acquisitions are accretive to the Fund

That’s it.

This past year, the Fund launched a partnership with a Canadian pension plan that has committed $220 million to co-invest alongside CIPREF; further testament to the confidence that we and our partners have in our strategy.   To date, our partner has invested 10% of its commitment and we are targeting deploying the balance over the next 12 to 18 months as we see an opportunity to acquire assets to be held for the long term at an attractive price point.

Despite the negative news in the residential real estate sector, we are seeing desirable industrial and commercial properties available for sale across Canada.  We are also seeing an increase in investing activity from some of the largest institutional investors, who had been largely dormant.  This is consistent with our view that there are opportunities in the market, and that all is not as dire as some would suggest.

Thank you again for your continued support and trust and we are excited to continue to grow the Fund while generating attractive risk-adjusted returns for our investors.

Allan Perez
Chief Executive Officer
aperez@canfirst.com

Paul Braun
Chairman
pbraun@canfirst.com