Insights > Deals
Laurentian‑led loan gets ALMA Guelph's 587‑bed second phase moving
11 September 2026 | Development finance | Canada | 587 beds | Development
Forum Asset Management is expanding its presence in the Guelph PBSA market with the development of ALMA, expected to be completed in 2027.
Key details
Asset type | Development |
Location | Guelph, Canada |
Capacity | 587 beds |
Borrower | Forum Asset Management |
Lender | Laurentian Bank‑led lending syndicate |
Value | Undisclosed |
Adviser | CBRE Capital |
Source: Forum
CBRE Capital arranged a conventional construction loan for the second phase of ALMA Guelph on behalf of Forum Asset Management. The financing was done by Laurentian Bank‑led lending syndicate.
The development will provide 489 units and 587 beds in two seven‑storey buildings on a three‑acre site adjacent to the existing ALMA community. Forum expects the phase to complete in 2027.
Strategic context
The loan gives Forum a route to advance a major phase in a Canadian university market where new student housing remains difficult to finance and deliver. It also adds scale besides an existing operating asset, allowing Forum to extend the ALMA platform while sharing development risk with a bank‑led lending group.
SUBSCRIBE TO STUDENT HOUSING INSIDER
Stay close to the student housing market
Subscribe to Student Housing Insider for a weekly update on student housing transactions, development pipeline, market trends and selected BONARD analysis.
Designed for investors, developers, operators, lenders and market participants tracking the student housing sector.