Bridgemarq Real Estate Services® Announces Filing of Special Meeting Materials in respect of Strategic Transaction

About this update from Bridgemarq Real Estate Services, Inc.

[{"type":"text","content":"\n \n \n \n Bridgemarq Real Estate Services® Announces Filing of Special Meeting Materials in respect of Strategic Transaction\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 4, 2024\n \n \n /CNW/ - Bridgemarq Real Estate Services Inc. (together with its subsidiaries, \"\n \n Bridgemarq\n \n \" or the \"\n \n Company\n \n \") (TSX: BRE) today announced that it has filed and is in the process of mailing the management information circular (the \"\n \n Circular\n \n \") and related materials in connection with the special meeting (the \"\n \n Meeting\n \n \") of its shareholders to be held virtually on\n \n March 25, 2024\n \n .\n \n \n The Meeting relates to the previously announced proposed acquisition of the issued and outstanding shares of Bridgemarq Real Estate Services Manager Limited and Proprio Direct Inc. (together with their subsidiaries, the \"\n \n Target Entities\n \n \") from an affiliate of Brookfield Business Partners (\"\n \n \n Brookfield\n \n \n \"), and the settlement of certain deferred management fees and distribution payments owing by the Company. As consideration, the Company will issue Class B subordinated limited partnership units of Residential Income Fund L.P. (the \"\n \n Partnership\n \n \"), (the \"\n \n Exchangeable Units\n \n \") to\n \n Brookfield\n \n pursuant to a definitive agreement dated as of\n \n December 14, 2023\n \n (the \"\n \n Purchase Agreement\n \n \" and collectively, the \"\n \n Transaction\n \n \").\n \n \n The Transaction is expected to provide a number of meaningful benefits to shareholders, including the following:\n \n \n \n \n Compelling Pro Forma Financial Metrics.\n \n The Transaction is expected to meaningfully enhance the scale of Bridgemarq and deleverage the business through the settlement of certain deferred management fees and distributions owing to\n \n Brookfield\n \n . Given the expected liquidity of the pro forma entity, the Company anticipates maintaining existing levels of cash dividends pe...

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