Minto Group and Crestpoint complete $2.3 billion take-private of Minto Apartment REIT

5 Jan 2026

Minto Group and Crestpoint Real Estate Investments Ltd. completed their previously announced acquisition of Minto Apartment Real Estate Investment Trust by way of a statutory plan of arrangement under Ontario law. The transaction was announced on January 5, 2026, when the REIT entered into an arrangement agreement with affiliates of Crestpoint Real Estate Investments Limited Partnership and Minto Group; completion was announced on August 7, 2026. Under the arrangement, a Crestpoint affiliate acquired the REIT’s issued and outstanding public trust units for $18.00 per unit in cash, excluding trust units held directly or indirectly by Minto Properties Inc., its affiliates and certain senior officers. The transaction represented an enterprise value of approximately $2,300,000,000 and included debt, retained trust units and class B limited partnership units held by Minto and certain affiliates. Minto Group rolled over its 42.7 percent equity interest into the new partnership, and after completion Minto and its affiliates collectively owned limited partnership interests representing an approximate 49.3 percent ownership interest. The parties said the partnership will focus on long-term ownership of modern, purpose-built rental properties in core Canadian markets including Toronto, Vancouver, Calgary, Montreal, Ottawa, Victoria and Halifax. The REIT’s trust units were delisted from the Toronto Stock Exchange at the close of trading on August 6, 2026, and the REIT applied to cease being a reporting issuer under Canadian securities laws. Legal counsel included Torys LLP, McCarthy Tétrault LLP, Goodmans LLP and Blake, Cassels & Graydon LLP.