Real estate

Carriage Hill Properties Acquisition Corp. / INTERRENT REIT

M&A · Ontario · Real estate · Announced · 09 Jul 2026

Carriage Hill Properties Acquisition Corp. ("Carriage Hill" or the "Purchaser"), a newly formed entity, established in connection with the transaction, together with the manager CLV Asset Management Inc. confirmed the completion of the previously announced privatization of InterRent Real Estate Investment Trust (TSX: IIP.UN ) ("InterRent" or the "REIT").

cash consideration $13.55 (per unit)

Consideration $4B

BMO Capital Markets (financial advisor); Norton Rose Fulbright Canada LLP (legal advisor); Scotiabank (financial advisor); Goodmans LLP (legal advisor); Stikeman Elliott LLP (legal advisor); LaBarge Weinstein LLP (legal advisor); Skadden, Arps, Slate, Meagher & Flom LLP (legal advisor)

“Pursuant to the arrangement, Carriage Hill acquired all of the issued and outstanding units of InterRent, other than certain units held by retained interest holders, for cash consideration of $13.55 per unit.”

• CARRIAGE HILL PROPERTIES ACQUISITION CORP. AND CLV ASSET MANAGEMENT INC. COMPLETE PRIVATIZATION OF INTERRENT…

Sun Life Financial Inc. / Bell Partners

M&A · Ontario · Real estate · Announced · 30 Mar 2026

Sun Life Financial Inc. (TSX: SLF ) (NYSE: SLF) today announced it has completed both the acquisition of the remaining equity interests in BGO, its global real estate investment management advisor and provider of real estate services and Crescent Capital Group ("Crescent"), its global alternative credit investment manager.

consideration form all shares
interest rate 8% (per annum)

Consideration $450MM

PJT Partners (financial advisor); Paul, Weiss, Rifkind, Wharton (legal advisor); Garrison LLP (legal advisor); Morgan Stanley (financial advisor); Hogan Lovells (legal advisor)

“All share repurchases for cancellation under Sun Life's current Normal Course Issuer Bid (NCIB) have been completed.”

“(ii) average total return on real estate and equity investments of approximately 8% per annum;”

• Sun Life completes remaining equity interest purchases of BGO and Crescent Capital.

Clarke Inc. / RAVELIN PROPERTIES REIT

M&A · Nova Scotia · Real estate · Announced · 27 Mar 2026

Clarke Inc. (TSX: CKI ) ("Clarke") and Ravelin Properties REIT (TSX: RPR.UN ) ("Ravelin" or the "REIT") are pleased to announce that they have entered into an arrangement agreement (the "Arrangement Agreement"), pursuant to which Clarke has agreed to acquire all of the outstanding units of the REIT (the "REIT Units") and all of the REIT's outstanding 9.00% convertible unsecured subordinated…

break fee $1,000,000
premium to market 171% (closing price of the REIT Debentures on the Toronto Stock Ex)
premium to market 93% (20-day volume-weighted average trading price of the REIT Deb)

Consideration $157.9MM

Bennett Jones LLP (legal advisor); Voorheis & Co. LLP (legal advisor); Thornton Grout Finnigan LLP (legal advisor)

“In addition, the Arrangement Agreement provides for a termination fee of $1,000,000 payable by the REIT to Clarke if it accepts a superior proposal and in certain other specified circumstances.”

“Based on Clarke's share price, the consideration to be received by REIT Debentureholders (including Early Consenting Debentureholders) represents a premium of 93% to the 20-day volume-weighted average trading price of the REIT Debentures, and a premium of 171% to the closing price of the REIT Debentures on the Toronto Stock Exchange ("TSX") on March 26, 2026, the day prior to this announcement.”

“Based on Clarke's share price, the consideration to be received by REIT Debentureholders (including Early Consenting Debentureholders) represents a premium of 93% to the 20-day volume-weighted average trading price of the REIT Debentures, and a premium of 171% to the closing price of the REIT Debentures on the Toronto Stock Exchange ("TSX") on March 26, 2026, the day prior to this announcement.”

• CLARKE INC. ENTERS INTO AGREEMENT TO ACQUIRE RAVELIN PROPERTIES REIT