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Briefings
Market commentary, signal briefs, and deal dossiers for Canadian REIT investors.
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Market commentary, signal briefs, and deal dossiers for Canadian REIT investors.
New REIT Stack briefings when they publish. No promotion. Unsubscribe anytime.
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.
Boardwalk trades at 0.63x its Real-Estate NAV — the deepest high-confidence discount in the Canadian REIT universe — while running the lowest payout we screened (42% of AFFO) and buying back units at that discount.
Killam suspended its DRIP and accelerated buybacks in March, signalling management sees its units as undervalued, while a recovering price and steady Q1 results underpin the case.
Northview Residential's Q1 FFO per unit rose 2.2% as interest savings from debt optimization offset seasonal cost pressures, while units still trade at a steep discount to estimated value.
Morguard North American Residential REIT posted a steady Q1 across its $4.6 billion book, with a payout still running above 2024 levels and occupancy near full.
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.
BSR REIT posted Q1 funds from operations up 29% sequentially and lifted tenant retention to 59.8%, even as an oversupplied Sunbelt apartment market kept pressure on rents.
Boardwalk REIT grew first-quarter net operating income 10% year-over-year, yet the units have drifted modestly lower in 2026, putting a steady operator back in value territory.
CAPREIT is changing chief executives: Mark Kenney retires after nearly 30 years, and InterRent's former CEO Brad Cutsey takes the helm of Canada's largest apartment REIT on July 2.
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.
Mainstreet Equity raised its quarterly dividend 100% to $0.08 and bought $68.2M of properties in Q1 — the corporate-structure REIT comparable is back in growth mode.