CLV Group and Singapore-based investment firm GIC have entered into an agreement to acquire InterRent REIT in an all-cash transaction valued at approximately $4 billion, including the assumption of net debt.

InterRent is a growth-focused REIT that owns and manages multi-residential properties across Canada, with a strategy centred on acquiring, upgrading, and operating rental communities in urban markets with strong fundamentals.

The REIT’s unitholders are slated to receive $13.55 per unit in cash, representing a 35% premium to the REIT’s closing price on March 7, 2025, and a 29% premium to its 90-day volume-weighted average price as of Monday.

The deal includes a 40-day go-shop period during which Ottawa-based InterRent may solicit and consider alternative proposals. The transaction, unanimously recommended by InterRent’s board, is subject to unitholder, court, regulatory and lender approvals, with closing expected by late 2025 or early 2026. Upon completion, InterRent is expected to be de-listed from the TSX and cease to be a reporting issuer.

Pictured: InterRent’s The Link apartment building in Vancouver.

Photo: InterRent

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