May 01, 2024

Tricon Residential Inc. acquired by Blackstone Real Estate

Goodmans LLP acted for Tricon Residential Inc. in connection with its arrangement agreement with Blackstone, pursuant to which an affiliate of Blackstone, Inc. acquired all outstanding common shares of Tricon for approximately US$3.5 billion.

Tricon serves communities in high-growth markets such as Atlanta, Charlotte, Dallas, Tampa, Phoenix and Toronto. In addition to managing a single-family rental housing portfolio, Tricon has a single-family rental development platform in the U.S. with approximately 2,500 houses under development, as well as numerous land development projects that can support the future development of nearly 21,000 single-family homes. Tricon also has a Canadian multifamily development platform that is building approximately 5,500 market-rate and affordable multifamily rental apartments.

Under Blackstone’s ownership, Tricon plans to complete its $1 billion development pipeline of new single-family rental homes in the U.S. and $2.5 billion of new apartments in Canada (together with its existing joint venture partners). Tricon will also continue to enhance the quality of existing single-family homes in the U.S. through an additional $1 billion of planned capital projects over the next several years.

Goodmans LLP continues to be a leader in the corporate and M&A space, bringing strength to advising major multinational corporates and financial institutions involved in high-value, multi-jurisdictional M&A, reorganisations and corporate governance matters. — The Legal 500 Canada
Goodmans have excellent subject matter expertise and actionable strategy and advice. They give deep confidence of their ability to capably handle complex and sophisticated matters. — Chambers Canada
The corporate and commercial team has impressive depth with experienced and highly skilled counsel at all relevant levels, from senior partner to junior associate. — Chambers Canada
The Corporate/Commercial team at Goodmans make it seem as though we are their only client. They are our go-to external corporate-commercial counsel. — Chambers Canada
Clients note, "They have a good team of very experienced lawyers who know the process, " adding, "They have a good bench strength." — Chambers Canada
Clients note, "They get our business and what we're trying to accomplish. It's not just technical advice." — Chambers Canada
One interviewee reported, "The Goodmans team as a whole is excellent," adding: "The lawyers are very responsive and get the job done. It is of great assurance to have them as our legal advisers." — Chambers Canada
One client noted, "...they handled a very complicated transaction involving many jurisdictions and did a very good job. They are always able to make comparative decisions through a relatively simple way and try to balance risk and find solutions." — Chambers Canada
Clients note, "The client service at Goodmans has always been excellent, and they are very deep from a corporate and financing perspective." — Chambers Global
Interviewees praise the firm's work on cross-border matters, saying: "The team's coordination is superb, its work ethic unparalleled and the service excellent." — Chambers Global
One client noted, "very strong legal minds, focus in on the business issues...good communicators, include my internal team as much or as little as we may want on a particular project." — IFLR1000
....punches above its weight for big-ticket M&A in Canada, recently advising on substantial transactions in mining, energy, technology and cannabis sectors. — Chambers Global
Clients commend Goodmans for being, "very entrepreneurial in their culture, in addition to being able to provide sophisticated and excellent legal assistance." — Chambers Canada

Practices

Industries

Tricon Residential Inc. acquired by Blackstone Real Estate

Site Search

Tricon Residential Inc. acquired by Blackstone Real Estate

Expertise

Featured Work