KIN Asset Management

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Meet

KIN Asset Management (“KIN”) is an external asset manager focused on income-producing, value-add multi-family real estate across Canada’s secondary market cities.

KIN has launched the KIN Income Fund (KIF), a private mutual fund trust (private REIT) that is RRSP, TFSA, and RESP eligible, offering investors tax-advantaged exposure to stabilized real estate assets. KIF targets acquisitions in cities such as Montreal, Ottawa, Halifax, and Edmonton, partnering with best-in-class local operators who co-invest in each property, ensuring alignment and strong on-the-ground execution.

By leveraging CMHC-insured, low-cost, long-amortization financing, KIF acquires high-quality assets at attractive valuations, delivering stable distributions and equity growth.

Problem They’re Solving

The Canadian rental housing market faces a historic supply-demand imbalance fueled by decades of underbuilding and accelerated immigration. Construction has slowed further due to high rates, regulatory bottlenecks, and labor shortages, while demand continues to climb – Canada added 1.1 million people in 2023 alone. This has driven double-digit rent growth on turnover units (e.g., 13% nationwide, 31% in Toronto).

KIN Income Fund capitalizes on this imbalance by acquiring value-add multi-family assets at favorable spreads between cap rates and financing costs, offering investors credit-like cash flow yields with significant equity growth upside.

Where They Are Headed

KIN Asset Management is assembling a portfolio of income-producing, value-add multi-family properties targeting ~4,000 units.

The strategy is to capitalize on expanded cap rates (~6%) versus historically low CMHC financing (~3.5%) at up to 90% loan-to-cost with 45–50-year amortizations, creating an advantage unavailable to most REITs and institutions. The Fund’s near-term focus includes Montreal, Ottawa, Edmonton, and Halifax, with a plan to recapitalize investors in 3–5 years.

KIN’s vision is to build a resilient, scalable platform that generates stable income today and equity appreciation over time, all while addressing Canada’s critical housing shortage.

Opportunity Highlights

Strong Yield & Returns: Targeting 6–8% cash-on-cash annual distributions and 16–18% IRR with 1.8x–2.2x equity multiple.
CMHC Financing Advantage: Up to 90% loan-to-value, 45–50-year amortization at ~3.5% interest, terms not available to institutions.
Best-in-Class Local Operators: Partners co-invest 5%+ for alignment, driving superior execution.
Market Timing at Cycle Bottom: Cap rates expanded while interest rates recede, creating rare buy-side opportunities.
Demographic Tailwinds: Immigration-driven demand + structural underbuilding supports long-term rental growth.

Management Team

Jacob Iftah – Founder & CEO

Jacob has led the placement of ~$2B in equity and debt across $4B+ in transactions since founding KIN Asset Management in 2020. He has extensive experience investing alongside institutional partners in 9M+ sq. ft. of development across North America. Previously, he founded KSM Group, a private equity and asset management firm focused on real estate and tech ventures. Jacob is a passionate advocate for community impact and diversity, co-founding multiple nonprofits and scholarship initiatives in real estate.

David Hanick – Partner & COO

David was formerly Chief Legal Officer at Starlight Investments, helping grow AUM from $7B to over $30B across global markets. He led high-profile public, institutional, and private real estate transactions across North America and Europe. Previously a partner at Osler, he advised on M&A and finance deals with a focus on real estate and capital markets. David has received national legal awards for executive leadership and was recognized as a top General Counsel in Canada.

Key Metrics

Distributions: 6–8% cash-on-cash annually.
Total Returns: 16–18% IRR net to investors.
Equity Multiple: 1.8x–2.2x net to investors.
Portfolio Growth: Target ~4,000 units within 3–5 years.
Market Fundamentals: Supply gap + immigration surge fueling rent increases (turnover rents 10–31% higher than in-place rents).

Milestones

Jan 2025: REIT Structure Formed
Jul 2025: First Acquisition in Montreal
Sep 2025: $25M Cornerstone Investment Secured
Sep - Dec 2025: Portfolio Expansion to $200M / 650 Suites
Mar 2026: Complete initial $100M equity raise & acquire additional $300M of assets
Mar 2027: Target: $1B Real Estate / $200M Equity Raised
Dec 2028: Complete raising additional $300-$400M while acquiring $2B-$3B of assets
Dec 2030: Create liquidity (IPO/Recap/Refi/Sell etc.)