In 2021, we secured C$300m of investment capital for True North III, a limited partnership with two existing partners: Nicola Wealth and Kingswood Capital. Combined with True North I & II, the Structured Development Finance (SDF) Programme has raised nearly C$1bn in commitments since 2015.

We continue to provide financing to best-in-class developers for the creation of residential, mixed-use and affordable housing schemes in our core markets, helping to deliver much needed housing.

Since the Programme’s inception in 2000, our SDF business has acted as a capital provider to 77 residential development projects representing over 8,800 residential units and C$4bn in gross development value.