InterRent Real Estate Investment Trust in connection with C$4 billion go-private transaction
Canada | June 09, 2025
Client: InterRent Real Estate Investment Trust
Lawyers:
Our Canadian national team acted as legal counsel to the special committee of InterRent Real Estate Investment Trust in connection with the sale of InterRent to Carriage Hill Properties Acquisition Corp. (the Purchaser), a newly formed entity owned by CLV Group Inc. and GIC Real Estate, Inc., pursuant to an arrangement agreement.
The Purchaser will acquire InterRent in an all-cash transaction valued at approximately C$4 billion, including the assumption of net debt. The transaction will be completed through the acquisition by the Purchaser of all the units of InterRent for C$13.55 per unit by way of statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario). Assuming the timely receipt of all required key regulatory approvals and consents and approvals from Canada Mortgage and Housing Corporation and certain existing lenders, the transaction is expected to close in late 2025 or early 2026.
The Purchaser will acquire InterRent in an all-cash transaction valued at approximately C$4 billion, including the assumption of net debt. The transaction will be completed through the acquisition by the Purchaser of all the units of InterRent for C$13.55 per unit by way of statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario). Assuming the timely receipt of all required key regulatory approvals and consents and approvals from Canada Mortgage and Housing Corporation and certain existing lenders, the transaction is expected to close in late 2025 or early 2026.