InterRent REIT completes internalization of property management

1 minute read
15 February 2018

Effective as of February 15, 2018, InterRent REIT (TSX: IIP.UN) internalized its property management function by acquiring  from CLV Group, Inc., the REIT’s external property manager, all of its property, assets and rights relating to the management of InterRent’s properties, for an aggregate consideration of approximately $38 million payable in a combination of Class B partnership units and cash. 

InterRent is a growth-oriented real estate investment trust engaged in increasing unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties. 

Gowling WLG advised InterRent on this transaction with a team that included Bryce Kraeker, Radhika Vaidyanathan and Connor McGarry.

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