Deal Dossiers
Structured dossiers on REIT M&A, asset sales, financings, and capital events.
Plaza Weighs Axia's C$5.28 Unsolicited Proposal
Plaza Retail is evaluating Axia Real Assets' unsolicited C$5.28-per-unit proposal, a roughly C$1.23 billion take-private approach carrying a 21% premium but no binding agreement yet.
InterRent's C$4B Take-Private Closes at C$13.55
InterRent's C$4 billion take-private closed July 9 at C$13.55 per unit, ending its TSX listing and moving the apartment portfolio into private ownership under CLV Group and GIC.
Chartwell Buys 30% of Seasons — and Runs All 23 Communities
Chartwell paid C$382.5 million for 30% of a C$1.275 billion, 2,943-suite Seasons portfolio it now operates — capping a deal-heavy June that followed a 52.4% Q1 FFO surge.
Firm Capital's C$218M Housing Bet Clears Its Last Regulator
On June 22, the Competition Bureau cleared Firm Capital's C$218 million purchase of a 50% stake in ten manufactured home communities, with closing now expected in Q3 2026.
PRO REIT Bets C$136.8M on 17 Industrial Assets, Closes Raise
On June 3, PRO REIT agreed to buy 17 industrial properties across Québec City and Winnipeg for C$136.8 million, backed by a C$107.3 million raise that closed June 10.
First Capital Agrees to a $9.4 Billion Take-Private
First Capital REIT has agreed to be acquired by KingSett Capital and Choice Properties for $24.40 per unit, a take-private deal that would split its portfolio in two.
InterRent's $4B Take-Private Now Hinges on a CMHC Sign-Off
InterRent REIT's $4 billion take-private by CLV Group and GIC awaits only CMHC and lender consents before a July 10, 2026 outside date, with units trading below the $13.55 offer.
Choice Properties Splits First Capital With KingSett
Choice Properties and KingSett Capital agreed to carve up First Capital REIT, with Choice taking the urban grocery-anchored half and KingSett the rest, closing later this year.
Vital Infrastructure Exits Europe in a $145M Sale to TPG
Vital Infrastructure is exiting continental Europe, selling a 33-property German and Dutch portfolio to TPG Real Estate for ~$145 million to cut leverage and redeploy into North America.
Slate Grocery REIT Fields a Buyout Bid From Its Own Manager
Slate Grocery REIT's board has struck a special committee after an unsolicited buyout proposal from its external manager, and is now soliciting competing bids to test the portfolio's value.
Minto Goes Private as Crestpoint Deal Nears Close
Minto Apartment REIT is being taken private by Minto Group and Crestpoint in an all-cash deal that values the trust near $2.3 billion at a 32% premium.
Clarke Inc Sweeps Up the Old Slate Office Book
Clarke Inc agreed on March 27 to acquire Ravelin Properties (the rebranded Slate Office REIT) in an all-stock deal valued at ~C$1.1B — a distressed end to a long unwind.