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GO Residential REIT Announces Accretive Acquisition Agreements Creating Unencumbered Asset Base and Raises Guidance
GO Residential Real Estate Investment Trust ("GO Residential REIT" or the "REIT") is pleased to announce today that it has entered into agreements to acquire three premier multifamily properties in Manhattan from two different vendors: Ivy Tower, located in the heart of Midtown West at 345 W 42nd St. and 350 W 43rd St., and The Hudson Yards portfolio, comprised of two buildings located at 411 W 35th St. and 445 W 35th St., situated in Hudson Yards (collectively, the "Properties"), for aggregate
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[{"type":"text","content":"TORONTO and NEW YORK, Feb. 24, 2026 /CNW/ - GO Residential Real Estate Investment Trust ("GO Residential REIT" or the "REIT") is pleased to announce today that it has entered into agreements to acquire three premier multifamily properties in Manhattan from two different vendors: Ivy Tower, located in the heart of Midtown West at 345 W 42nd St. and 350 W 43rd St., and The Hudson Yards portfolio, comprised of two buildings located at 411 W 35th St. and 445 W 35th St., situated in Hudson Yards (collectively, the "Properties"), for aggregate consideration of US$380.5 million, as detailed below (collectively, the "Acquisitions").","length":672,"tagName":"p"},{"type":"text","content":"Transaction Highlights of the Acquisitions","length":42,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Strategic importance: The Acquisitions accelerate the REIT's scale in core Manhattan sub-markets, enhance the quality of its portfolio and mark a pivotal step forward in GO Residential REIT's strategy to become a premier owner and operator of luxury high-rise multifamily assets. The Properties are expected to contribute to the REIT's sustainable cash flow and long-term value creation through proactive asset management and operational excellence.","length":461,"tagName":"p"}]},{"val":[{"type":"text","content":"Acquisition details and financing: The total consideration of US$380.5 million is expected to be satisfied by a disciplined and diversified capital stack consisting of US$183.2 million from cash on hand, incurrence of approximately US$120.0 million in mortgage debt with respect to the Hudson Yards portfolio, and an aggregate of US$77.3 million in equity issued to the vendors (calculated using the REIT's net asset value per trust unit ("NAV per Unit")1 of $23.70.2 The equity issued to the vendors in the aggregate will be comprised of up to a total of 3,255,814 common units of Go Residential Operating LLC, an indirect subsidiary of the REIT, and 5,000 trust units of the REIT and will be subject to contractual hold periods between six months and two years. Ivy Tower will become the REIT's first unencumbered asset, delivering on a key strategic initiative.","length":887,"tagName":"p"}]},{"val":[{"type":"text","content":"Financial impact: The Acquisition...
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