North America Home Finance Inc. (CSE: NAHF) has released its financial results for the year ended June 30, 2026, reporting total assets of $142.88 million, a 25% increase over the prior year. The Vancouver-based shared-equity homeownership company recorded net income of $3.11 million and an $11.5 million fair value gain following a change in accounting policy for investment properties. Investors may be watching the company's shift away from home sales toward rental community development as a key strategic signal.

Key Points

  • North America Home Finance Inc. (CSE: NAHF, CSE: NAHF.PR.A, CSE: NAHF.WT)
  • Total assets grew 25% to $142.88 million; net income reached $3.11 million for fiscal year ended June 30, 2026
  • Total revenue declined 12% to $3.81 million; rental income rose 75% and now represents 75% of total revenue
  • Investors may watch Kelowna occupancy recovery and completion of additional Saanich rental community phases

NAHF Pivots from Home Sales to Rental Community Development

North America Home Finance continued its strategic transition during fiscal 2026, reducing home sales from three to one while accelerating construction of rental communities. Total revenue fell 12% to $3.81 million as the company deliberately moved away from home sale revenue, with management noting that profits from rental development will be captured as fair value gains rather than recognised in revenue. Rental income surged 75% year-over-year to represent 75% of total revenue, up from 38% in fiscal 2025, reflecting the completion of Phase 1 of the Saanich Ridge Development and the acquisition of 80 units at the Five Crossings development in Kelowna.

Fair Value Accounting Change Drives $11.5 Million Investment Property Gain

A significant accounting policy change saw NAHF adopt fair value measurement for its investment properties, replacing the previous amortized cost basis. This resulted in a fair value gain of $11.5 million, which management states makes the financial statements more reflective of the company's underlying asset value. Investment properties under development grew substantially to $39.59 million from $11.29 million in the prior year, while completed investment properties stood at $52.73 million. Total non-current financial liabilities decreased 22% to $64.07 million, partly due to reclassification of a PeakHill construction mortgage to current liabilities.

Five Crossings Settlement and Saanich Mortgage Refinancing Finalised

The company finalised the settlement of its profit participation interest relating to the Five Crossings development project in Kelowna, confirming a profit participation entitlement of $5.57 million and an outstanding promissory note obligation of $5.35 million, with the two amounts contractually set off against each other. Separately, in July 2026, NAHF refinanced the Saanich mortgage into a CMHC-insured five-year term mortgage with Peakhill. Kelowna occupancy improved from 76% to 94% since March 31, 2026, with a corresponding increase in average annualised contractual recurring cash flow, a non-GAAP measure tracked by management.

Condominium Deposits and Forward Acquisition Strategy Expand Asset Base

NAHF's deposits for condominiums under its forward wholesale acquisition strategy increased to $24.08 million at June 30, 2026, up from $20.25 million the prior year, spanning the Collinson Rise/Revo Development and Glenlake Development. Loans receivable stood at $5.88 million. The weighted average share count rose 4% to 82,158,574 shares, while basic and diluted earnings per share were $0.038, compared with $0.044 in fiscal 2025. The immediate share price impact was not clear from available public information.