InterRent Real Estate Investment Trust has entered into an arrangement agreement with Carriage Hill Properties Acquisition Corp., a newly formed entity owned by CLV Group and GIC, pursuant to which the purchaser will acquire InterRent in an all-cash transaction valued at approximately $4 billion, including the assumption of net debt.
Under the terms of the agreement, InterRent unitholders will receive $13.55 per unit in cash, which represents a 35 percent premium to InterRent’s unaffected closing unit price on the TSX as of March 7, 2025 and a 29 percent premium to InterRent’s 90-day VWAP on the TSX as of May 26.
“We are pleased to provide immediate and certain premium value to our unitholders through this all-cash transaction with CLV Group and GIC, while also allowing InterRent to solicit superior proposals through a go-shop period of 40 days,” said Brad Cutsey, CEO and trustee of InterRent. “The entire Board of Trustees and management team are proud to hav
