Minto Apartment REIT to Go Private in $2.3B JV with Crestpoint
AI Article Summary
Minto Group has announced a joint-venture deal with Crestpoint Real Estate Investments to take its apartment REIT private, valued at $2.3 billion. The deal involves a Crestpoint affiliate acquiring all REIT units, excluding those held by Minto Group and its senior officers, at $18 per unit. The transaction is expected to provide significant liquidity to unit holders during challenging market conditions. The REIT board has recommended shareholders approve the deal at a meeting scheduled for March, and it is anticipated to close in the second half of 2026.
What This Means for Canadian Contractors
This project shows how Canadian construction firms may benefit from consolidations and joint ventures by accessing new capital and strategic partnerships, potentially stabilizing investments in uncertain markets. For Canadian builders, this means that there might be more opportunities in managing or redeveloping existing multi-residential properties as they transition into private hands. Additionally, the project underscores the importance of maintaining flexibility and evaluating strategic partnerships for sustainable growth in real estate markets.
