BUSINESS OVERVIEW AND STRATEGY
Business Overview
Urbanfund Corp. is an incorporated entity listed on the TSX Venture Exchange ("TSX-V") under the symbol UFC. The Company is a reporting issuer in Alberta, British Columbia and Ontario. Urbanfund's focus is to invest in Canadian real estate and real estate related projects with a focus on a mix of both residential and commercial properties. The Company's assets are located in Toronto, Brampton, Belleville, Kitchener and London, Ontario, Quebec City and Montreal, Quebec and Dartmouth, Nova Scotia.
Operational Highlights
Part of Urbanfund's strength is its ability to attract partners with proven track records with both residential and commercial development expertise. Urbanfund continues to build alliances with its strategic partners:
1040 Martin Grove Road, Toronto, During the year ended December 31, 2025, nine commercial units were sold for sale proceeds of $3,740,454 (December 31, 2024 - $2,704,390). To date, the Company's capital contribution of $1,870,000 has been fully returned, and an additional profit distribution of $822,545 has been received to date, of which $154,000 was received subsequent to the year end.
270-330 Esna Park Drive, Markham - During the year ended December 31, 2025, twenty-two commercial units were sold for sale proceeds of $4,282,314 (December 31, 2024 - $1,033,374). To date, the company has received distributions of $1,080,095, of which $520,094 was received subsequent to the year end.
67-69 Westmore Drive, Etobicoke, During the year ended December 31, 2025, the Company, sold 6 commercial units for sale proceeds of $3,074,320 (December 31, 2024 - $13,366,224). To date, the Company's capital contribution of $3,120,000 has been fully returned, and an additional profit distribution of $4,233,399 has been received to date, including $520,000 received subsequent to the year end. As at December 31, 2025, there are 2 unsold commercial units remaining.
3080-3094 Don Mills Road & 200 Van Horne Avenue, Toronto, On December 1, 2025, the Company completed the refinancing of its property, securing a new facility of $16,293,116 at a fixed interest rate of 3.55% for a five-year term. The proceeds were used to fully repay the existing mortgage of $8,022,140 on the property, with the remaining funds available to support general corporate purposes and future growth initiatives, as determined by the Board.
PRESENTATION OF FINANCIAL INFORMATION AND NON-IFRS MEASURES
Presentation of Financial Information
Unless otherwise specified herein, financial results, including historical comparatives, contained in this press release are based on Urbanfund's 2025 Annual Consolidated Financial Statements, which have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and interpretations of the IFRS Interpretations Committee ("IFRIC"). Unless otherwise specified, amounts are in Canadian dollars, and percentage changes are calculated using whole numbers.
RESULTS FROM OPERATIONS
In addition to reported IFRS measures, industry practice is to evaluate real estate entities giving consideration to certain non-IFRS performance measures such as funds from operations, adjusted cash flows from operations and net operating income, as reported below. For further details, please refer to Non-IFRS Measures.
Selected Annual Information
Years ended December 31,
2025
2024
2023
Operating results
Rental Revenue
$ 8,636,454
$ 8,720,069
$ 8,636,426
Income before taxes
6,373,205
12,436,601
7,962,575
Net income and comprehensive income
4,862,132
9,715,601
6,789,930
Per share basis, attributable to shareholders
Basic income per share
$ 0.089
$ 0.180
$ 0.122
Diluted income per share
$ 0.078
$ 0.158
$ 0.107
Non-IFRS measures (i)
FFO
$ 6,204,710
$ 8,025,215
$ 6,839,231
ACFO
2,648,687
10,693,914
6,159,348
As at,
December 31, 2025
December 31, 2024
December 31 2023
Financial position
Total assets
$ 164,111,998
$ 155,604,351
$ 155,407,220
Total investment properties
109,313,000
108,843,000
107,252,000
Total mortgages payable
61,707,815
55,506,091
65,103,388
Non-IFRS measures (i)
Debt to total assets
38 %
36 %
42 %
Debt to Adjusted EBITDA (ii)
4.72
3.73
10.78
Interest coverage ratio (ii)
