Vancouver, British Columbia — March 2, 2026 — Leads & Copy — North America Home Finance Inc. (CSE: NAHF) (CSE: NAHF.WT) has released its financial results for the three and six months ended December 31, 2025.
The Canadian residential real estate finance and asset development company, known for pioneering shared-equity homeownership solutions, reported a 47% increase in revenues for the three months ended December 31, 2025, compared to the same period last year. Revenues for the six months ended December 31, 2025, increased by 138% compared to the equivalent prior period.
Total assets saw an 11.6% increase in the six months ended December 31, 2025, compared to June 30, 2025. The number of homes held by the company increased by 14.8% since September 30, 2025, reflecting construction progress in both the Saanich Ridge Development and Revo.
The company successfully refinanced its $13.5 million mortgage from People’s Trust with a new $14.5 million loan from Peakhill Capital. This also allowed the company to repay 1 City Financial $1.5 million. Certain mortgages were extended subsequent to the period end.
The number of HomePlan agreements continues to grow as the program gains market recognition. However, the company experienced a decrease in the average annualized contractual recurring cash flow, a non-GAAP measure, from income-producing housing assets of 9.8% compared to September 30, 2025, due to vacancies in Kelowna, the mix of units rented, and tenant inducements.
North America Home Finance Inc. completed its IPO and became listed on the CSE. The company’s cost to complete the IPO, initiate the Housing Share exchange offering, and set up the NAHF Real Estate Trust with HYUs over the last 3 years is approximately $1.3 million.
CEO George Lawton said the team has worked hard over the last 20 months to complete the process of becoming a reporting issuer. He sees this as the official beginning of their plan to build a shared equity housing corporation, and they can now employ strategies for transacting with developers and landlords that they haven’t had available to them in the past.
Revenue in the three months ended December 31, 2025, consisted of rental income and sub-lease income totaling $0.76 million, which was $0.36 million higher than December 31, 2024. In the three months ended December 31, 2024, the company also earned acquisition and development fees of $0.12 million. Effective January 1, 2025, the company entered into a management agreement with NAHF Equity Management Ltd., under which acquisition, development, and other fees will be earned by the Manager.
For the three months ended December 31, 2025, rental income increased 98% over the three months ended December 31, 2024, as the company finalized Phase 1 of the Saanich Ridge Development rental community, completing and renting 26 homes by the end of fiscal 2025. The company also acquired 80 units and rented a portion thereof in the Five Crossings development by the end of fiscal 2025. Sub-lease income associated with the land related to homes sold in prior years at Saanich Ridge and an additional 3 homes sold in calendar 2025 was also earned by the company.
Revenue in the six months ended December 31, 2025, consisted of one home sale, rental income, and sub-lease income totaling $2.3 million. Home sales increased from 0% of revenue in the six months ended December 31, 2024, to 36% in the six months ended December 31, 2025. Rental income increased 120% in the six months ended December 31, 2025, over the comparable period in 2024.
Net losses of $1.7 and $3.2 million for the three and six months ended December 31, 2025, were $1.2 and $2.1 million higher than comparable periods, due to additional HOA fees, insurance costs, repairs, utilities, property taxes, and mortgage interest incurred by the company to generate higher rental revenue and build and acquire more income producing assets. Depreciation also increased in association with increased rental income producing properties.
Total assets increased $12.35 million to $119.5 million in the six months ended December 31, 2025, as the company expanded its income producing housing asset base by continuing to build the next two Saanich Ridge rental communities. Additionally, the company increased deposits for condominiums in alignment with its Forward (wholesale) acquisition of to-be-built housing assets strategy.
Non-current financial liabilities decreased $4.1 million to $76.5 million in the six months ended December 31, 2025, primarily as two mortgages were reclassified as current in accordance with payment terms requiring payment within the next twelve months. Subsequent to December 31, 2025, the first mortgage with Peakhill Capital of $14.5 million to refinance the prior mortgage from People’s Trust was amended to a term loan with a maturity date of June 1, 2027. Additionally, subsequent to December 31, 2025, the mortgage maturity date of the 2021 second mortgage with 1 City on the Saanich Ridge Property was extended to September 1, 2027, and the mortgage maturity date of the 2022 mortgage with 1 City on the Saanich Ridge Property was extended to September 1, 2027.
The company’s properties as at December 31, 2025, consisted of the Saanich Ridge Development property, the Edmonton property, the Saanich Ridge rental communities and the Five Crossings Development. Investment properties increased 18.7% in the six months ended December 31, 2025 with the continued development of the company’s Saanich Ridge development.
Additional information relating to NAHF and other public filings, is available on SEDAR+ at www.sedarplus.ca.
North America Home Finance Inc. is a Canadian residential real estate finance and asset development company focused on expanding housing access through shared-equity and next-generation ownership pathways. The company develops, acquires and manages income-producing residential housing communities in Canada.
Source: North America Home Finance Inc.
