InterRent’s Go-Shop Period Ends with No Offers Received
InterRent REIT announced the conclusion of its 40-day go-shop period without receiving any alternative acquisition proposals.
The period, part of an arrangement agreement with Carriage Hill Properties Acquisition Corp., expired Sunday. Under the agreement, Carriage Hill — a newly formed entity owned by CLV Group and Singapore-based GIC — will acquire InterRent in an all-cash transaction valued at approximately $4 billion, including net debt.
During the go-shop window, financial advisor BMO Capital Markets contacted 85 potential buyers, with nine entering into confidentiality agreements and reviewing non-public information. None submitted an official offer.
With the go-shop period closed, non-solicitation provisions of the agreement now apply, restricting InterRent from engaging with new potential buyers unless a superior unsolicited proposal emerges.
The transaction, structured as a statutory plan of arrangement under Ontario law, remains subject to court, regulatory, and unitholder approval.
Other News
Benedict Canyon Acquires Neighboring West Hollywood Properties
Marcus & Millichap completed the sale and financing of 884 and 939 Palm Ave., two multifamily properties totaling 72 units in West Hollywood. The assets traded for $29.85 million, or $414,583 per unit. Tony Azzi and Rabbie Banafsheha of The Azzi Group of Marcus & Millichap exclusively represented the seller, a private family investor. Azzi,...
Learn more
JLL Arranges Refi for Mixed-Use Residential on Long Island’s South Shore
JLL Capital Markets arranged a $154.25-million refinancing for Greybarn Amityville, a mixed-use residential property in Amityville, NY, owned by Rechler Equity Partners. Senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross arranged the financing through PCCP, LLC. “Lenders are looking closely at how a multifamily property performs today and at the owner’s...
Learn more
RioCan Repositions $235M In Assets, Including 80-Storey Yorkville Tower
RioCan is shifting $235M in residential development assets toward commercial uses, a move disclosed in its third-quarter results that raises questions about plans for an approved 80-storey condominium tower on Toronto’s Mink Mile. The tower at 83–95A Bloor St. W., planned with Parallax, received zoning approval in December 2024. But RioCan’s latest financial statements identify...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout