Minto Apartment Real Estate Investment Trust has agreed to be acquired in an all-cash transaction with Crestpoint Real Estate Investments and Minto Group that would take the REIT private and value it at about $2.3 billion. Under the arrangement, Crestpoint will buy all outstanding trust units not held by Minto or certain senior officers for $18 per unit in cash, representing a significant premium over recent trading prices on the Toronto Stock Exchange. The REIT’s special committee of independent trustees and board have unanimously recommended that unitholders vote in favour of the transaction, which is expected to be considered at a special meeting in March and, if approved, to close in the second half of 2026.  

As part of the transaction, Minto and Crestpoint will form a new joint venture partnership to own and operate the REIT’s portfolio of multi-residential properties and pursue future growth in Canada’s rental market. Minto will continue to manage the portfolio and the combined partnership is expected to focus on long-term ownership, value-add opportunities and potential acquisition of new rental properties. The deal includes voting agreements and provisions for potential fees if either party fails to complete the transaction, and upon closing the REIT’s units are expected to be delisted from the exchange.

Source: Daily Hive