OTTAWA, ON, July 9, 2026 /CNW/ - InterRent Real Estate Investment Trust (TSX: IIP.UN) ("InterRent" or the "REIT") is pleased to announce the closing of its previously announced plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, Carriage Hill Properties Acquisition Corp. (the "Purchaser"), a newly formed entity, acquired all of the issued and outstanding units of the REIT, other than certain units held by retained interest holders, for cash consideration of $13.55 per unit. Following the completion of the Arrangement, the REIT's property portfolio is now managed by CLV Group Inc. as property manager and CLV Asset Management Inc. as asset manager. The Arrangement was completed by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario).
As a result of the completion of the Arrangement, the units of the REIT are expected to be delisted from the Toronto Stock Exchange (the "TSX") on or about July 10, 2026 and an application will be made for the REIT to cease to be a reporting issuer.
Consideration for the REIT's units has been remitted by or on behalf of the Purchaser to TSX Trust Company as depositary under the Arrangement, and will be paid to former unitholders of the REIT as soon as reasonably practicable after the date hereof (or, in the case of registered unitholders, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the certificate(s) (if applicable) representing units formerly held).
For additional details regarding the Arrangement, please see the Management Information Circular (the "Circular") available under InterRent's profile on www.sedarplus.ca.
Early Warning disclosure
In connection with the completion of the Arrangement, the Purchaser acquired 133,544,523 units of the REIT, which represents 95.48% all of the issued and outstanding units of the REIT. Prior to the consummation of the Arrangement, the Purchaser did not own, or exercise control or direction over, any units of the REIT. After giving effect to the Arrangement, the Purchaser holds all of the issued and outstanding units of the REIT (other than certain units of retained interest holders). In connection with the Arrangement, the previous trustees of the REIT resigned, the Purchaser appointed a new trustee of the REIT, and the Purchaser and its affiliates reorganized certain of the REIT's subsidiaries and assets.
An early warning report in connection with the foregoing will be filed under the REIT's profile on SEDAR+ at www.sedar.com. You may also contact Mike McGahan at 1-855-479-1916 to obtain a copy of the report. The registered and records office of the Purchaser is 4200 Bankers Hall West, 888 - 3rd Street S.W., Calgary, AB T2P 5C5.