InterRent REIT to be acquired by consortium that includes CLV Group in partnership with GIC in $4 billion all-cash transaction

Goodmans LLP is acting for a consortium that includes CLV Group Inc. in partnership with GIC in connection with the acquisition of InterRent REIT, whereby pursuant to a plan of arrangement a newly formed entity owned by CLV Group and GIC, named Carriage Hill Properties Acquisition Corp., will acquire InterRent in an all-cash transaction valued at approximately $4 billion, including the assumption of net debt.

The transaction allows 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.

GIC is a leading global investment firm established in Singapore to manage the country’s foreign reserves.