On October 5, 2026, H&R Real Estate Investment Trust, one of Canada’s largest real estate investment trusts, announced that it would acquire a 70.9 percent interest in Lantower Residential Real Estate Development Trust (No. 1) for approximately US$84.3 million. The development trust was established in early 2024 by H&R’s Texas-based subsidiary, Lantower Residential LP, through a US$52 million initial public offering, and was formed to indirectly own interests in two residential development projects in Florida — Lantower Bayside in Largo, in the Tampa market, and Lantower Sunrise in Kissimmee, in the Orlando area — together budgeted at roughly US$210 million and comprising about 601 units. When the trust was created, H&R retained an option to acquire the completed projects, and this transaction represents H&R carrying out that planned buyout of the 70.9 percent interest. Because H&R sponsored the development trust through its subsidiary, the acquisition was reviewed by H&R’s independent trustees, who retained separate legal counsel. The transaction is connected to H&R’s broader, previously announced arrangement to be acquired by GO Residential REIT and a consortium in a deal valued at approximately C$6.7 billion. H&R’s portfolio spans Canadian and U.S. residential, industrial and office properties, and its residential platform operates under the Lantower Residential brand. Miller Thomson LLP advised the independent trustees of H&R Real Estate Investment Trust.