1Based on F Series units effective September 30, 2025.
2Based on F Series units. Unaudited annualized returns since inception as at June 30, 2025.
| Fund Name | Trez Capital Private Real Estate Fund Trust |
| Launch | August 31, 2021 |
| FundServ Code | |
| F Series | TRZ610 |
| A Series | TRZ600 |
| Structure | Mutual Fund Trust |
| Currency | Canadian Dollar |
| Fund Type | Private Equity Real Estate Fund |
| Minimum Subscription | $25,000.00 CAD |
| Subsequent Subscription | $5,000.00 CAD |
| Purchase Frequency | Monthly |
| Eligibility | RRSP, RRIF, DPSP, RDSP, RESP, TFSA, FHSA |
| Liquidity | T+20, please refer to Offering Memorandum for other important information |
| Registered Accounts | Yes |
| Target Returns | The objective of the Trust is to generate a total net return (including capital appreciation and income) on a tax efficient basis that exceeds 12.00% per annum over a ten-year hold period |
2025
| Series² | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $111.78 | $110.93 | $110.28 | $113.65 | $110.88 | $108.74 | $108.26 | $107.30 | $105.48 | – | – | – |
| F | $115.53 | $114.76 | $114.19 | $117.66 | $114.94 | $112.79 | $112.31 | $111.35 | $109.53 | – | – | – |
2024
| Series² | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $115.43 | $116.07 | $116.34 | $115.72 | $114.79 | $114.90 | $115.86 | $114.88 | $114.02 | $113.14 | $112.17 | $110.70 |
| F | $117.45 | $118.67 | $119.03 | $118.52 | $117.69 | $117.90 | $118.99 | $118.13 | $117.38 | $116.59 | $115.71 | $114.34 |
2023
| Series² | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $120.16 | $120.37 | $120.90 | $117.28 | $117.34 | $117.54 | $117.76 | $118.30 | $118.19 | $116.67 | $115.54 | $114.85 |
| F | $120.91 | $121.28 | $121.97 | $118.23 | $118.41 | $118.71 | $119.04 | $119.73 | $119.73 | $118.30 | $117.38 | $116.79 |
2022
| Series² | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A | – | – | – | $108.67 | $109.32 | $109.32 | $109.92 | $110.87 | $114.99 | $116.85 | $116.95 | $117.02 |
| F | $103.04 | $103.39 | $108.04 | $108.67 | $109.32 | $109.51 | $110.12 | $111.17 | $115.42 | $117.38 | $117.58 | $117.73 |
2021
| Series² | August | September | October | November | December |
|---|---|---|---|---|---|
| A | – | – | – | – | – |
| F | $100.00 | $100.00 | $100.49 | $100.69 | $102.94 |
Special Distribution
| Year | Series | June |
|---|---|---|
| 2025 | A, F | $1.6583 |
| Management Fees1 | |
| F Series | 1.50% |
| A Series | 2.50% |
| Acquisition Fees | 1.00% of the purchase price, proforma cost, or capital commitment of any Trust investment. |
| Exit Fees | 0.50% of the sale price of any asset sold by the Trust, multiplied by Trust’s percentage ownership at sale. |
| Manager Participating Interest | 5.00% of any distribution or redemptions proceeds paid to any or all unitholders. |
1Of the Net Asset Value as calculated and payable on a monthly basis.
| Province | Minimum investment when relying on accredited investor exemption2 | Minimum investment when relying on offering memorandum exemption3 | Minimum Amount Exemption4 |
|---|---|---|---|
| Alberta | $25,000 | $25,000 | $150,000 |
| British Columbia | $25,000 | $25,000 | $150,000 |
| Manitoba | $25,000 | $25,000 | $150,000 |
| New Brunswick | $25,000 | $25,000 | $150,000 |
| Newfoundland & Labrador | $25,000 | $25,000 | $150,000 |
| Nova Scotia | $25,000 | $25,000 | $150,000 |
| Ontario | $25,000 | $25,000 | $150,000 |
| Quebec | $25,000 | $25,000 | $150,000 |
2Accredited Investor Exemption: There is no regulatory minimum subscription amount for investors qualifying under the Accredited Investor Exemption. However, the minimum initial purchase amount established by the Manager is $25,000.
3Offering Memorandum Exemption: There is no regulatory minimum subscription amount for investors qualifying under the Offering Memorandum Exemption. However, the minimum initial purchase amount established by the Manager is $25,000.
4Minimum Amount Exemption (not available to individuals): The minimum initial subscription amount for investors qualifying under the Minimum Amount Exemption is $150,000 in each province listed above.
As previously announced on August 18, 2025, Trez Capital Fund Management Limited Partnership (“Trez Capital”), in its capacity as manager of Trez Capital Private Real Estate Fund Trust (the “Trust”), temporarily suspended the Redemptions of Units of the Trusts effective 4:00 PM ET on August 18, 2025 as contemplated by the applicable Declaration of Trust creating the Trusts (each, a “Declaration of Trust”). The suspension applies to all Redemption requests placed on or before August 18, 2025 for which payment has not yet been made and the Trusts will not accept any Redemption requests after the Effective Time until such time as the Suspension has been terminated. No payment will be made in respect of unsettled Redemption requests placed on or before August 18, 2025. The suspension will continue until the first day on which the condition giving rise to the suspension ceases to exist in the opinion of Trez Capital, acting reasonably, provided that no other condition under which a suspension is authorized then exists. In the event another condition under which a suspension is authorized then exists, the suspension will continue until the first day on which such new condition giving rise to the suspension ceases to exist in the opinion of Trez Capital and provided that no other condition under which a suspension is authorized then exists. Unless a suspension is earlier terminated by Trez Capital in its discretion and in accordance with the Declaration of Trust, if no other condition under which a suspension is authorized exists as of the date that is 180 days (or, in the case of Trez Capital Private Real Estate Fund Trust, 12 months) from the effective time of a suspension, such suspension will be terminated and the Trusts will resume Redemptions of Units in accordance with the Declarations of Trust and such processes as may be determined by Trez Capital.
Units of the Trust may be purchased through your registered Investment Advisor. To purchase units in a non-registered account directly through Trez Capital, please contact Investor Services at:
T: 604.689.0821
TF: 1.877.689.0821
E: invest@trezcapital.com
Monday to Friday, 8:30am to 5:00pm PST
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