US EditionInterRent REIT to Be Acquired by CLV Group in Partnership with GIC in $4 Billion All-Cash Transaction
- On May 27, 2025, InterRent Real Estate Investment Trust agreed to be purchased in a deal worth approximately $4 billion, including debt, in Ottawa.
- This deal resulted from pressure from activist Anson Funds and InterRent units trading below net asset value amid calls for restructuring or sale.
- Mike McGahan's CLV Group, together with the Singapore-based investment firm GIC, has offered $13.55 per unit, including a 40-day go-shop period to seek higher bids.
- The $13.55 offer represents a 35% premium over the March 7, 2025, unaffected closing price and falls within analysts' fair value estimates of $12.75 to $14 per unit.
- The transaction requires unitholder, court, regulatory, CMHC, and lender approvals and is expected to close by early 2026, after which InterRent will be delisted from the TSX.
17 Articles
17 Articles
Collingwood Today
InterRent REIT agrees to offer from executive chair, sovereign wealth fund
OTTAWA — InterRent Real Estate Investment Trust has signed a deal to be acquired by a group including executive chair Mike McGahan and Singapore sovereign wealth fund GIC for about $2 billion.
InterRent REIT to be Acquired by CLV Group in Partnership with GIC in $4 Billion All-Cash Transaction
Transaction Highlights InterRent unitholders to receive cash consideration of $13.55 per unit, representing a: 35% premium to InterRent's unaffected closing unit price on the TSX as of March 7, 2025, the last trading day prior to media speculation regarding the REIT, and a 29% premium to InterRent's 90-day VWAP on the TSX as of May 26, 2025 Board of Trustees of InterRent (the "Board") unanimously recommends that unitholders vote in favour of t…
GIC JV Seeks to Buy Canadian Apartment REIT for $2.9B - Mingtiandi
Singapore sovereign giant GIC and Canadian developer CLV Group have formed a joint venture to acquire Toronto-listed apartment trust InterRent for C$4 billion ($2.9 billion). The all-cash deal includes assumption of debt and represents a 35 percent premium to the... Read More>> The post GIC JV Seeks to Buy Canadian Apartment REIT for $2.9B in All-Cash Deal appeared first on Mingtiandi.
CLV Group, Singapore firm make $4B offer to acquire Ottawa's InterRent REIT
InterRent announced Tuesday that CLV Group and Singapore-based investment firm GIC are offering to purchase the REIT for $13.55 per unit, or about $2 billion. Already an Insider? Log in Get Instant Access to This Article Become an Ottawa Business Journal Insider and get immediate access to all of our Insider-only content and much more. Learn More and Become an Insider Critical Ottawa business news and analy…
Coverage Details
Bias Distribution
- 67% of the sources lean Left
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
