The Minto Group and Crestpoint Real Estate Investments have completed the previously announced arrangement agreement to acquire Minto Apartment Real Estate Investment Trust in a transformative transaction representing an enterprise value of approximately C$2.3 billion ($1.6 billion).
Crestpoint acquired all issued and outstanding trust units of the REIT for cash consideration of $18.00 per unit, excluding units held directly or indirectly by Minto and certain senior officers. Minto has rolled over its entire 42.7 percent equity interest into the partnership.
With the transaction now complete, Minto and Crestpoint have established a long-term, programmatic joint venture, with both parties committed to providing additional growth capital to fuel future expansion. The partnership combines Minto’s seven decades of residential expertise with Crestpoint’s strong track record in real estate investment and asset management. Together, the partners will focus on the long-te
