Equiton launches first US fund, targeting a $6.8T multifamily market
What's the deal? Canadian private real estate firm EquitonDealroom has a profile for this one. Try Dealroom → has launched the US Apartment Fund (Equiton US Residential Income Fund Trust), its first fund focused on the United States. It opens US multifamily markets to Canadian investors and marks Equiton's fifth open-ended private real estate fund.
Why now? Equiton sees a possible entry point as valuations sag. "Current market conditions may provide a favourable entry point as valuations across parts of the US multifamily sector remain below highs set in recent years," says Ryan Donkers, vice-president, investments.
What's the endgame? The fund aims to generate monthly income from rental operations plus capital appreciation through active asset management, mirroring Equiton's flagship Canadian Apartment Fund. Early acquisitions will focus on the Sun Belt, including Florida and Texas, targeting markets with strong demographic and employment growth.
Why it matters: The US market dwarfs Canada's. Its multifamily sector is valued at roughly US$6.8 trillion, against about US$476 billion in Canada as of April 2026, with more than 100 million Americans — about twice Canada's population — renting rather than owning.
In their words: "For many on Equiton's leadership team, expanding into the US market represents a natural next step," says founder and chief executive officer Jason Roque. He adds that the market's "scale and depth create opportunities for long-term value creation that are difficult to replicate elsewhere."
The signal: Equiton is extending a decade-old Canadian multifamily playbook across the border, betting that softer US valuations and a vastly larger rental base justify the move. It positions the firm's platform as North American rather than Canadian — while leaving execution in a new, more competitive market to prove out.
Image credit: dalecruse
Read more: Associated Press
