In what is now one of the largest real estate deals in Canada, Reza Satchu has guided Alignvest Student Housing Real Estate Investment Trust (ASH REIT) through a nearly $1.7 billion sale to Forum Asset Management. This asset acquisition is expected to boost Forum Assets’ reputation and make it the leader in Canada in terms of developing and owning student accommodation assets.
For Satchu, a serial entrepreneur and visionary, this accomplishment can be considered monumental as he looks to expand and develop other ventures in the near future.
The acquisition by Forum’s Real Estate Income and Impact Fund (REIIF) will create the largest PBSA portfolio in Canada, as the combined entity will manage nearly 10,500 student housing beds across several key university markets. Alignvest’s portfolio, which Satchu has helped grow into a formidable force, includes 17 properties housing over 7,100 beds across seven university markets. A beneficial aspect of this development is that it allows Forum to provide more quality accommodation for students, as they constantly face a high demand due to a lack of quantity.
Satchu, who has long been known for implementing and promoting a “Founder Mindset,” approaches business with a relentless focus on building long-term value. His ability to think beyond the immediate deal and focus on scalable, sustainable growth has been crucial in his success.
Alignvest’s sale to Forum is more than just a strategic business move; it aligns with policy direction in Canada, where purpose-built student housing is gaining increasing attention as one of the solutions to the country’s never-ending housing woes. As more and more universities are built and student numbers increase, the demand for modern and good-quality housing facilities tends to be higher than the supply.
Canadian universities face a deficit of 400,000 beds, according to BONARD, with waitlists ballooning in Canada’s major cities. The crisis has gotten worse since COVID, with thousands of students who were expecting on-campus housing being told they will have to look off-campus.
This merger would allow Forum to address this deficit on a scale that has not been seen before. For Forum Asset Management, the acquisition positions the company as the dominant player in the student housing sector. As the new owner of Alignvest’s portfolio, Forum will be able to increase its development efforts and extend its reach into university markets not currently served by REIIF.
Satchu’s leadership in this deal is a testament to his ability to recognize and capitalize on opportunities in high-growth sectors. As the founder of Alignvest, he has consistently championed the development of institutional-grade real estate in underdeveloped markets, creating a legacy of successful ventures. His approach is focused on creating sustainable businesses that not only grow but thrive long-term.
This latest deal comes on the heels of a series of successful projects under his leadership. Satchu has, time and again, demonstrated the ability to lead with vision and invention. The deal represents a strong validation of Satchu’s investment philosophy, which blends strategic vision with operational expertise.
