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Minto Apartment Real Estate Investment Trust has agreed to be taken private in an all-cash transaction valued at approximately USD 2.3 billion, including debt. The acquisition will be carried out by an affiliate of Crestpoint Real Estate Investments along with an affiliate of Minto Group, the REIT's parent. Under the deal, unitholders will receive USD 18 per unit in cash, representing a 32 percent premium to the REIT's last closing price. The transaction has received unanimous approval from the board and an independent committee, with unitholder approval expected in March 2026. The deal is targeted for completion in the second half of 2026.
Minto Apartment Real Estate Investment Trust has entered into a definitive agreement to be acquired in an all-cash take-private transaction valued at approximately USD 2.3 billion, inclusive of debt. The acquisition will be led by an affiliate of Crestpoint Real Estate Investments in partnership with an affiliate of Minto Group, which currently holds a significant ownership stake in the REIT. Advertisement
As per the agreement, unitholders of Minto Apartment REIT will receive USD 18 per unit in cash. This represents a premium of about 32 percent over the security's most recent closing price, offering investors an immediate and substantial value realization. The transaction has been unanimously approved by the REIT's board of trustees, as well as by a special committee comprising independent trustees formed to evaluate the deal.
Minto Group, which owns approximately 42.7 percent of the REIT's voting interest, has entered into a voting agreement to support the transaction, significantly strengthening the likelihood of approval. Remaining unitholders are expected to vote on the proposed acquisition at a special meeting scheduled for March 2026.
Commenting on the decision, the REIT's leadership noted that while the portfolio remains high quality and well located, challenges in the capital markets have limited the REIT's ability to pursue its long-term growth strategy effectively as a publicly listed entity. The move to go private is expected to provide greater flexibility in capital allocation and operational decision-making.
The transaction is anticipated to close in the second half of 2026, subject to customary regulatory approvals and unitholder consent.
Minto Apartment REIT owns and operates a diversified portfolio of multi-residential rental properties across major Canadian cities, including Toronto, Montreal, Ottawa, Calgary, and Vancouver. Crestpoint Real Estate Investments, founded in 2010, focuses on commercial real estate and debt investments and manages assets exceeding USD 11 billion on behalf of institutional and high-net-worth investors.
Source - PTI
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