# EDGAR Filing Document

**Accession Number:** 0001953425
**File Stem:** 0001213900-26-013287
**Filing Date:** 2026-2
**Character Count:** 7213
**Document Hash:** 753e834a34c94666a4fc06e8bb8bd239
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-013287.hdr.sgml**: 20260206

**ACCESSION NUMBER**: 0001213900-26-013287

**CONFORMED SUBMISSION TYPE**: 5

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260206

**DATE AS OF CHANGE**: 20260206

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Ryan Elizabeth Anne
- **CENTRAL INDEX KEY:** 0001953425

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 5
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-23658
- **FILM NUMBER:** 26607833

**MAIL ADDRESS:**
- **STREET 1:** C/O FORUM CAPITAL ADVISORS, LLC
- **STREET 2:** 240 SAINT PAUL STREET, SUITE 400
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forum Real Estate Income Fund
- **CENTRAL INDEX KEY:** 0001857314

**ORGANIZATION NAME:**
- **EIN:** 862859042
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** C/O FORUM CAPITAL ADVISORS, LLC
- **STREET 2:** 240 SAINT PAUL STREET, SUITE 400
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206
- **BUSINESS PHONE:** 303-501-8860

**MAIL ADDRESS:**
- **STREET 1:** C/O FORUM CAPITAL ADVISORS, LLC
- **STREET 2:** 240 SAINT PAUL STREET, SUITE 400
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Forum CRE Income Fund
- **DATE OF NAME CHANGE:** 20210415

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 5

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Ryan Elizabeth Anne<br><sub>(Last) (First) (Middle)</sub><br>C/O FORUM CAPITAL ADVISORS, LLC<br>240 SAINT PAUL STREET, SUITE 400<br><sub>(Street)</sub><br>DENVER, CO 80206<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-12-31 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Secretary_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Forum Real Estate Income Fund [ FORFX ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Founders Shares | 2025-12-31 | 2025-12-31 | P |  | 368.80 | A | $9.65 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-01-30 | 2025-01-30 | P |  | 190.30 | A | $9.66 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-02-27 | 2025-02-27 | P |  | 180.55 | A | $9.68 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-03-28 | 2025-03-28 | P |  | 187.09 | A | $9.65 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-04-29 | 2025-04-29 | P |  | 204.47 | A | $9.62 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-05-29 | 2025-05-29 | P |  | 200.24 | A | $9.95 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-06-27 | 2025-06-27 | P |  | 216.33 | A | $9.69 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-07-30 | 2025-07-30 | P |  | 188.95 | A | $9.73 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-08-28 | 2025-08-28 | P |  | 219.74 | A | $9.75 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-09-29 | 2025-09-29 | P |  | 251.77 | A | $9.73 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-10-30 | 2025-10-30 | P |  | 248.64 | A | $9.76 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-11-28 | 2025-11-28 | P |  | 249.49 | A | $9.74 | 3493.194<sup>(1)</sup> | D |  |
| Founders Shares | 2025-12-31 | 2025-12-31 | P |  | 203.29 | A | $9.65 | 3493.194<sup>(1)</sup> | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Shares beneficially owned include 819.397 shares received through the Forum Real Estate Income Fund Dividend Reinvestment Plan (221.112 shares in 2023, 298.009 shares in 2024, and 300.276 shares in 2025).

**Signature:** /s/ Elizabeth Anne Ryan  
**Date:** 2026-02-06

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**