Carriage Hill Properties Acquisition Corp. acquires InterRent REIT

Goodmans LLP acted for a consortium that included CLV Group Inc. in connection with the acquisition of InterRent REIT, whereby pursuant to a plan of arrangement a newly formed entity named Carriage Hill Properties Acquisition Corp., acquired InterRent in an all-cash transaction valued at approximately $4 billion, including the assumption of net debt.

Following the completion of the arrangement, InterRent's property portfolio is now managed by CLV Group 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).

The transaction will allow CLV and GIC to build a best-in-class operating platform and assemble a portfolio of well-located properties in some of Canada’s strongest urban rental markets. 

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

CLV Group is an industry-leading apartment developer, with a diverse investment approach centred on residential and mixed-use opportunities.