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InterRent Real Estate Investment Trust (REIT) has announced that its planned acquisition by Carriage Hill Properties Acquisition Corp. is expected to close on July 9, 2026, after nearly all closing conditions were fulfilled. The all-cash transaction, announced last year, will see Carriage Hill acquire all eligible InterRent units for CAD 13.55 per unit. Following completion, the REIT is expected to be delisted from the Toronto Stock Exchange and will seek to cease being a reporting issuer, marking the final stage of one of Canada's major residential REIT acquisitions.
InterRent Real Estate Investment Trust (REIT) has provided an update on its proposed acquisition by Carriage Hill Properties Acquisition Corp., stating that the arrangement is expected to close on July 9, 2026. The company said that all closing conditions have been satisfied, except those that are required to be completed on the closing date.
The transaction was announced last year under a statutory plan of arrangement, through which Carriage Hill Properties Acquisition Corp. will acquire all outstanding InterRent units, except those held by certain retained interest holders, for CAD 13.55 per unit in cash. The acquisition has an equity value of around CAD 2 billion and a total transaction value of approximately CAD 4 billion, including the assumption of net debt.
The buyer is a newly formed entity backed by CLV Group and GIC, Singapore's sovereign wealth fund. Over the past year, the transaction secured key approvals, including clearance under Canada's Competition Act, Investment Canada Act approval, court approval and unitholder approval. The latest update confirms that the remaining requirements are limited to customary closing-day formalities.
Following completion of the arrangement, InterRent's trust units are expected to be delisted from the Toronto Stock Exchange. The REIT will also apply to cease being a reporting issuer. In addition, its board has approved the termination of its Distribution Reinvestment Plan (DRIP), which had already been suspended since late 2024.
Source Reuters
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