CLV Group and GIC to acquire InterRent REIT for $4bn.

CLV Group, a real estate company, and GIC, a private equity company, agreed to acquire InterRent REIT, a real estate investment trust that specializes in the acquisition and management of multi-residential properties, for $4bn. “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. The entire Board of Trustees and management team are proud to have executed on our strategy to build a best-inclass operating platform and assemble a portfolio of well-located properties in some of Canada’s strongest urban rental markets. Leveraging that platform, we have repositioned these assets into high-quality communities, generating industry-leading growth and creating significant value for all stakeholders,” Brad Cutsey, InterRent CEO.