SPREIIT or Social Purpose Real Estate Impact Investing Trust is an initiative from Relèven, currently in concept and consortium formation.
SPREIIT responds to the urgent need to preserve and repurpose Canada’s underutilized community properties—such as churches, nonprofit centres, and cultural sites—at a time of rising urban inequality and social fragmentation. From east to west, left to right, anglophone to francophone and rural to urban, the redeployment of community properties resonates with need to support youth, cultural, heritage, faith-based and economic development opportunities.
SPREIIT aims to create large-scale, investment-grade debt to support the work of multiple SPRE initiatives across Canada, basing its model on the investment profile of the Bank of Canada 30-year bond, thus unlocking private capital for long-term public benefit, without relying on public operating budgets.
SPREIIT capital would be deployed as up to 49% equity-type debt through local, regional and national placement partners whose credibility and track record with SPRE, is proven. Their ability to bring blended finance solutions together with this unified larger vehicle, helps multiply impacts and significantly reduce and diversify risk.
Relèven is in the early (yet urgent) stages of building a national national collaboration of government, financial, philanthropic and place-based SPRE actors to develop a framework that supports housing, heritage, and community infrastructure across the country.
No part of this notice may be taken as promise of performance, assurance of risk or any other type of reliance upon the concept above which remains within both model and participant formation.
