InterRent receives final court OK for its acquisition

Executive Summary

• InterRent Real Estate Investment Trust has obtained a final court order approving its plan of arrangement to be acquired by Carriage Hill Properties Acquisition Corp.
• The acquisition involves a cash consideration of $13.55 per unit for all InterRent units, excluding those held by retained interest holders.
• The transaction is expected to close in late 2025 or early 2026, following initial announcement in May 2025 and unitholder approval in August 2025.

Key Details

• Transaction Structure: Statutory plan of arrangement under the Business Corporations Act (Ontario).
• Acquirer: Carriage Hill Properties Acquisition Corp., a newly formed entity owned by CLV Group and GIC.
• Consideration: $13.55 per unit in cash.
• Scope: Acquisition of all units of InterRent Real Estate Investment Trust, excluding certain units held by retained interest holders.
• Regulatory Approval: Final order obtained from the Ontario Superior Court of Justice (Commercial List).
• Timeline:
  • Initially announced: May 27, 2025.
  • Unitholder approval: August 25, 2025.
  • Expected closing: Late 2025 or early 2026.

Notable Quotes

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