Big news shaking up the real estate world! InterRent REIT just got the final green light for its acquisition by Carriage Hill Properties, a joint venture between CLV Group and GIC. A multi-billion dollar deal closing soon. What does this mean for the future of investment properties?
The landscape of Canadian real estate investment is set for a significant transformation following the recent final order from the Ontario Superior Court of Justice (Commercial List), officially approving the plan of arrangement for InterRent Real Estate Investment Trust. This pivotal decision paves the way for Carriage Hill Properties Acquisition Corp., a newly formed entity backed by the formidable CLV Group and GIC, to acquire a controlling stake in the prominent REIT, marking a strategic shift in the multi-residential property sector.
This landmark transaction, initially announced on May 27, 2025, and subsequently approved by InterRent unitholders on August 25, 2025, sees the Purchaser acquiring nearly all units of InterRent at a compelling price of $13.55 per unit in cash. The statutory plan of arrangement, executed under the Business Corporations Act (Ontario), is on track to finalize its closing in late 2025 or early 2026, setting the stage for one of the year’s most notable corporate acquisitions in the real estate domain.
InterRent Real Estate Investment Trust has long distinguished itself as a growth-oriented entity, committed to enhancing unitholder value through the strategic acquisition and ownership of multi-residential properties. Its core mission revolves around fostering a growing and sustainable distribution, underpinned by a disciplined approach to expanding its portfolio within stable markets that offer both sufficient suite availability and opportunities for accretive real estate investments.
The REIT’s strategic objectives have historically focused on leveraging the extensive industry experience of its trustees, management, and operational teams. These efforts are channeled into key areas: to steadily grow both funds from operations per unit and net asset value per unit through a diversified portfolio of residential real estate, to provide unitholders with consistent and increasing monthly cash distributions, and to uphold a conservative payout ratio and robust balance sheet.
Carriage Hill Properties Acquisition Corp. represents a powerful collaboration between CLV Group and GIC. CLV Group, with a rich history dating back to 1969, has built a sterling reputation for developing resilient portfolios for its investors and communities. Through a fully integrated real estate management platform, CLV Group adeptly navigates the market, offering a comprehensive suite of services that include residential and mixed-use development, acquisitions, investment portfolios, construction, realty, and property management.
Further bolstering the acquisition is GIC, a leading global investment firm established in 1981, tasked with securing Singapore’s financial future. GIC employs a long-term, disciplined investment approach across a vast array of asset classes globally, including equities, fixed income, private equity, and particularly significant for this deal, real estate. Its substantial global presence and multi-asset capabilities position GIC as an investor of choice, capable of adding substantial value to its strategic holdings.
This significant corporate acquisition highlights the dynamic nature of the real estate investment sector, particularly within the multi-residential segment. While such large-scale transactions are subject to various customary closing conditions, including regulatory and lender approvals, the final order marks a crucial step forward, signaling an evolving landscape for investors interested in robust real estate opportunities and the strategic moves of key players like InterRent REIT, CLV Group, and GIC.
