INTERRENT REIT ANNOUNCES CLOSING OF ARRANGEMENT WITH CARRIAGE HILL PROPERTIES ACQUISITION CORP.
OTTAWA, ON, July 9, 2026 /CNW/ – InterRent Real Estate Investment Trust (TSX: IIP.UN) (“InterRent” or the “REIT“) is pleased to announce the closing of its previously announced plan of arrangement (the “Arrangement“). Pursuant to the Arrangement, Carriage Hill Properties Acquisition Corp. (the “Purchaser“), a newly formed entity, acquired all of the issued and outstanding units of the REIT, other than certain units held by retained interest holders, for cash consideration of $13.55 per unit. Following the completion of the Arrangement, the REIT’s property portfolio is now managed by CLV Group Inc. as property manager and CLV Asset Management Inc. as asset manager. The Arrangement was completed by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario).
As a result of the completion of the Arrangement, the units of the REIT are expected to be delisted from the Toronto Stock Exchange (the “TSX“) on or about July 10, 2026 and an application will be made for the REIT to cease to be a reporting issuer.
Consideration for the REIT’s units has been remitted by or on behalf of the Purchaser to TSX Trust Company as depositary under the Arrangement, and will be paid to former unitholders of the REIT as soon as reasonably practicable after the date hereof (or, in the case of registered unitholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the certificate(s) (if applicable) representing units formerly held).
For additional details regarding the Arrangement, please see the Management Information Circular (the “Circular“) available under InterRent’s profile on www.sedarplus.ca.
Early Warning disclosure
In connection with the completion of the Arrangement, the Purchaser acquired 133,544,523 units of the REIT, which represents 95.48% all of the issued and outstanding units of the REIT. Prior to the consummation of the Arrangement, the Purchaser did not own, or exercise control or direction over, any units of the REIT. After giving effect to the Arrangement, the Purchaser holds all of the issued and outstanding units of the REIT (other than certain units of retained interest holders). In connection with the Arrangement, the previous trustees of the REIT resigned, the Purchaser appointed a new trustee of the REIT, and the Purchaser and its affiliates reorganized certain of the REIT’s subsidiaries and assets.
An early warning report in connection with the foregoing will be filed under the REIT’s profile on SEDAR+ at www.sedar.com. You may also contact Mike McGahan at 1-855-479-1916 to obtain a copy of the report. The registered and records office of the Purchaser is 4200 Bankers Hall West, 888 – 3rd Street S.W., Calgary, AB T2P 5C5.
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.
About CLV Group
Following the transaction, CLV Group now manages more than $7 billion in real estate assets across Canada. Since 1969, CLV Group has built stronger, more resilient portfolios for its investors and partners while delivering long-term value to communities and residents. Supported by a fully integrated real estate management platform, CLV Group offers a complementary suite of services across residential and mixed-use development, acquisitions, investment management, realty, property management and financial services.
Cautionary Statement and Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements generally include, but are not limited to, statements with respect to management’s beliefs, plans, estimates and intentions, and similar statements concerning the Arrangement, the expected benefits to InterRent and its unitholders and other stakeholders of the Arrangement, payment of consideration to unitholders, delisting from the TSX and the timing thereof, InterRent’s application to cease to be a reporting issuer and other statements that are not historical facts. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of InterRent to be materially different from those expressed or implied by such forward-looking statements, including, but not limited to: the failure to realize the expected benefits of the Arrangement; that the units of InterRent may not be delisted from the TSX, in a timely fashion or at all; that InterRent’s application to cease to be a reporting issuer under applicable Canadian securities law may not be accepted or may be delayed; the timing of the payment of consideration to unitholders; industry conditions or other factors; risks relating to employee retention; the risk of regulatory changes that may materially impact the business or the operations of InterRent; the risk that legal proceedings may be instituted against InterRent; and other risks and uncertainties affecting InterRent. For more information on the risks and uncertainties affecting InterRent, please refer to the “Forward-Looking Statements” section of InterRent’s Management’s Discussion and Analysis for the year ended December 31, 2025 and Annual Information Form for the financial year ended December 31, 2025 (the “AIF“), the “Cautionary Statement Regarding Forward-Looking Information” section of the Circular, as well as the “Risk Factors” section of the AIF and the Circular.
Although the forward-looking information contained herein is based upon what management believes are reasonable assumptions as of the date hereof, there can be no assurance that actual results will be consistent with these forward-looking statements. InterRent has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements; however, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and should not rely upon these statements as of any other date. InterRent does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE InterRent Real Estate Investment Trust
