On May 27, 2025, InterRent Real Estate Investment Trust announced a definitive arrangement agreement with Carriage Hill Properties Acquisition Corp., a joint venture between CLV Group and GIC, to acquire InterRent in an all-cash transaction valued at approximately $4 billion, including assumed net debt. The equity value is approximately $2 billion. Under the agreement, InterRent unitholders (excluding CLV-affiliated holders) will receive $13.55 in cash per unit, reflecting a 35% premium over the March 7, 2025 closing price and a 29% premium over the 90-day VWAP as of May 26, 2025.

To ensure competitive fairness, InterRent has initiated a 40-day “go-shop” period ending July 6, 2025, with a possible five-day extension. The Board of Trustees, guided by an independent Special Committee, unanimously recommends unitholder approval, having received fairness opinions from BMO Capital Markets and National Bank Financial (NBF). NBF also provided a formal valuation range of $12.75–$14.00 per unit.

Legal counsel includes Norton Rose Fulbright for the Special Committee and Gowling WLG for InterRent. CLV Group is advised by Goodmans LLP, LaBarge Weinstein LLP, and Scotiabank; GIC is advised by Stikeman Elliott LLP and Skadden, Arps, Slate, Meagher & Flom LLP. Scotiabank also acts as financial advisor and sole underwriter for the Purchaser's acquisition credit facilities. Completion is expected by late 2025 or early 2026, pending regulatory and unitholder approvals.