On June 26, 2024, Clear Sky Land Lease Communities Fund I announced an initial public offering (IPO) of up to CAD 60 million, closing on July 9, 2024. The fund focuses on investing in U.S. manufactured housing properties, starting with assets in Kansas and Arizona. Units were priced at CAD 10.00 or USD 10.00, with a minimum subscription of CAD 35 million required.

CIBC World Markets Inc. acted as lead agent, alongside Richardson Wealth Limited, Canaccord Genuity Corp., iA Private Wealth Inc., and Wellington-Altus Private Wealth Inc. Blake, Cassels & Graydon LLP advised the Trust, while McCarthy Tétrault LLP represented the agents.

Distributions are expected to begin in September 2024, targeting a 5% annual pre-tax yield, with a liquidity event planned within five years. Key risks include limited unit liquidity and market exposure.