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InterRent Completes $4B Sale to CLV, GIC
InterRent has closed on its $4-billion friendly takeover by international investors, the REIT announced Thursday.
Carriage Hill Property Acquisition Corp. — a newly formed entity owned by Ottawa-based CLV Group and Singapore-based GIC — acquired InterRent in an all-cash transaction, including net debt. Operating like a special-purpose acquisition company common in the U.S., Carriage Hill was formed specifically to acquire InterRent. Now that the take-private deal has been completed, the REIT’s units are expected to be delisted on or about Friday.
The completion came after it was pushed into 2026 after originally being expected to close by year-end 2025 because the parties had yet to meet several conditions, including Canada Mortgage and Housing Corporation consents more commonly known as an arrangement agreement.
The deal previously received court and federal Investment Canada Act approvals, and passed a Competition Act test.
CLV and GIC said previously that the combined entity will benefit from enhanced scale, a stronger balance sheet, and greater operational efficiency across its multi-residential portfolio.
Pictured: Vancouver apartment building owned by InterRent.