Fiera Canadian Real Estate Debt Fund L.P.
Open-ended limited partnership · Commercial
Managed by Fiera Real Estate
Data as of: March 31, 2026
This review is compiled by WOWA for informational purposes only and is not investment advice, an offer, or a solicitation. Figures are drawn from the manager's published materials as of the dates shown and may change. Returns are historical and do not guarantee future results. Verify all details with the manager or a licensed advisor before investing.
About the fund
The Fiera Canadian Real Estate Debt Fund L.P. is an open-ended limited partnership that provides investors with exposure to real estate private debt. The fund aims to preserve capital and generate stable monthly distributions by offering short-term bridge and construction financing to real estate developers and property owners. It primarily issues floating-rate first and second-lien loans ranging from $5 million to $50 million, with terms of 12 to 24 months. The portfolio is diversified across high-quality real estate projects in major Canadian urban centers.
At a glance
| Assets under management (AUM) | $595M CAD |
| 2025 return | 6.91% |
| First mortgages | 70.7% |
| Property focus | Residential (19%) / Commercial (45%) / Multi-Residential (37%) |
| Structure | Open-ended limited partnership |
| Investor access | Available to individual investors |
Portfolio & performance
The portfolio is composed of residential mortgages (19%), commercial mortgages (45%) and multi-residential mortgages (37%).
| Property Type | Share (%) |
| Residential | 19% |
| Commercial | 45% |
| Multi-Residential | 37% |
Fiera Canadian Real Estate Debt Fund L.P. has a focus on Ontario, with 57.9% of its mortgages located in Ontario, followed by Quebec (39.7%).
| Province/Region | Share (%) |
| Ontario | 57.9% |
| Quebec | 39.7% |
| Other Categories | 2.4% |
Fiera Canadian Real Estate Debt Fund L.P. returns
| Calendar year | Net return |
| 2023 | 9.37% |
| 2024 | 5.63% |
| 2025 | 6.91% |
Return objective (2026)
Fiera Canadian Real Estate Debt Fund L.P.'s target for 2026: Prime + 2 to 3%
Fund facts
| Structure | Open-ended limited partnership |
| First mortgages | 70.7% |
| Latest data | March 31, 2026 |
Additional fund details
The portfolio consists of 36.6% rental residential, 33.0% land, 18.8% condominium residential and 11.6% commercial and industrial exposure. The construction allocation uses land exposure as the closest available category and should not be interpreted as representing only completed construction loans. Geographic exposure includes 2.4% classified as “Rest of Canada,” which cannot be assigned to the individual provincial allocations shown. Returns are reported net of fees payable to the underlying investment strategy. The fund is available only to qualified investors through applicable prospectus exemptions.
Investor access
Available to individual investors
This fund is available to individual investors.
Minimum investment terms are not publicly disclosed.
About the manager
Fiera Real Estate Investments Limited is the real-estate investment-management subsidiary of Fiera Capital Corporation. As of March 31, 2026, Fiera Real Estate managed $12.3 billion of commercial real-estate assets globally across income, development, value-add and real-estate debt strategies. Its Canadian debt platform provides short-term bridge, redevelopment and construction financing through first- and second-ranking floating-rate loans.
Disclaimer:
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