OTTAWA, ON, July 16, 2026 /CNW/ -- Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) today announced that it has received the consent of Canada Mortgage and Housing Corporation and certain lenders to the REIT that are required to close the previously announced plan of arrangement (the "Arrangement") pursuant to which an affiliate of Crestpoint Real Estate Investments Limited Partnership will acquire all of the REIT's issued and outstanding trust units (the "Trust Units"), other than Trust Units held directly or indirectly by Minto Properties Inc. and its affiliates and certain senior officers, for $18.00 per Trust Unit in cash (the "Transaction"), in accordance with the arrangement agreement dated January 5, 2026 as amended by the amending agreement dated March 2, 2026 (the "Arrangement Agreement").
The REIT expects that, subject to the satisfaction at closing of the remaining closing conditions, the Arrangement will be completed on or about August 7, 2026.
Further details regarding the Arrangement are set out in the news release of the REIT dated January 5, 2026 and the REIT's management information circular dated January 29, 2026, each of which are available under the REIT's SEDAR+ profile at www.sedarplus.ca.
The REIT also announced today a cash distribution of $0.04458 per Trust Unit for the month of July 2026, representing $0.535 per Trust Unit on an annualized basis. In connection with the expected closing of the Transaction, the REIT expects to pay such distribution to unitholders of record as at July 31, 2026 on the earlier of (a) concurrently with the completion of the Transaction and (b) August 14, 2026.
About Minto Apartment Real Estate Investment Trust
The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to own income-producing multi-residential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multi-residential rental properties located in Toronto, Montreal, Ottawa, Calgary and Vancouver. For more information, please visit the REIT's website at: www.mintoapartmentreit.com.
Forward-Looking Information
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "is expected", "an opportunity exists", "budget", "scheduled", "estimates", "outlook", "forecasts", "projects", "projection", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will", "occur" or "be achieved", and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information.