Forum Investment Group Announces Closing of $836.1M Roll-up Transaction

Denver, Colorado – August 3, 2023 – Forum Investment Group LLC (“Forum”), a Denver-based real estate investment and asset management firm, announced today that it has closed a transaction involving the roll-up of 17 apartment properties into Forum Multifamily Real Estate Investment Trust, Inc. (“FMREIT”).

The transaction gives FMREIT an initial portfolio of 17 properties*, which includes 3,539 apartment units across eight states with a combined value of $836.1 million.

“Over the last 15 years, one of the things we are most proud of as a firm is our ability to be nimble and create new opportunities in multifamily for our investors,” said Darren Fisk, Forum Founder and CEO. “I am proud of the work that has been done by the Forum team to complete this transaction and am looking forward to the future of the company.”

About Forum

Forum is an innovative asset management firm that provides access and expertise to multifamily investments up and down the capital stack and throughout economic cycles. The firm specializes in multifamily acquisitions, developments, debt, and structured finance solutions for owners, operators and developers across the U.S. Since 2007, Forum, through its affiliates and related parties, including FMREIT, has invested in over 15,700¹ multifamily units with a total acquisition/development cost of more than $2.5B¹, originated over $493M² of structured finance investments in multifamily assets across the U.S.

*Forum owns 16 properties in whole (100%) and holds more than 90% economic interest in one property through a co-tenancy.
**Combined value is based on an independent third-party valuation as of September 30, 2022 and does not reflect a recent valuation.

¹Figures represent current and historical multifamily portfolio, including stabilized assets, assets that are under construction, assets in lease up, and assets that had been sold as of March 31, 2023. Does not include commercial/land projects
²Figures reflect the Forum structured finance team’s historical multifamily portfolio, including realized investments, unrealized investments and unrealized senior loans for the period from December 2015 through March 31, 2023. The team originated $254.7M prior to joining Forum, and $238.6M since joining Forum in 2021.

IMPORTANT INFORMATION

This material is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase, any securities. This is not intended as and may not be relied on in any manner as legal, tax or investment advice, a recommendation, or as an offer to sell, a solicitation of an offer to purchase or a recommendation of any interest in any fund or security offered by Forum. The information contained herein is subject to change without prior notice and is also incomplete. There is no assurance that FMREIT will achieve its investment objectives