Interrent REIT Provides Update On Arrangement With Carriage Hill Properties Acquisition Corp.
InterRent Real Estate Investment Trust (TSX: IIP.UN) (“InterRent” or the “REIT”) is pleased to announce that all closing conditions have been satisfied (other than conditions that by their nature are only capable of being satisfied on the closing date) with respect to the previously announced plan of arrangement (the “Arrangement”), pursuant to which Carriage Hill Properties Acquisition Corp. will acquire all of the units of the REIT (other than certain units of retained interest holders) for $13.55 per unit in cash by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario).
“The satisfaction of all closing conditions marks an important milestone in the Arrangement process,” said Dave Nevins, Interim Chief Executive Officer of the REIT. “On behalf of InterRent, I would like to thank the Canada Mortgage and Housing Corporation for its collaboration throughout this process. We are excited to continue building on InterRent’s legacy under its new ownership structure and look forward to the opportunities ahead.”
The Arrangement is expected to close on or about July 9, 2026.
Following the closing of the Arrangement, the units of the REIT are expected to be delisted from the Toronto Stock Exchange (the “TSX”) and an application will be made for the REIT to cease to be a reporting issuer.
The REIT also advises that its board of trustees has approved the termination of its distribution reinvestment plan (the “DRIP”) in accordance with its terms. The REIT previously suspended the DRIP on December 16, 2024, and it has remained suspended since that date.
For additional details regarding the Arrangement, please see the Management Information Circular (the “Circular”) available under InterRent’s profile on www.sedarplus.ca.
About InterRent
InterRent REIT is a growth-oriented real estate investment trust engaged in increasing unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.
InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure, and offer opportunities for accretive acquisitions.
InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) grow both funds from operations per unit and net asset value per unit through investments in a diversified portfolio of multi-residential properties; (ii) provide unitholders with sustainable and growing cash distributions, payable monthly; and (iii) maintain a conservative payout ratio and balance sheet.
Source : InterRent Real Estate Investment Trust
