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СпутникиРНSpaceXРоскосмосNASABY Fraser TennantIn a deal that creates Canada’s second-largest publicly traded residential real estate investment trust (REIT) by enterprise value, GO Residential REIT and a consortium of buyers – including private equity firm Blackstone – is to acquire Toronto-based H&R REIT for C$6.7bn.Under the terms of the agreement, H&R unitholders will receive C$4.28 per unit in cash, plus 0.5688 GO REIT unit per H&R unit, representing in total a value of C$12.01 per H&R unit and a 14.5 percent premium to its unaffected closing price on 10 June 2026.The agreement also includes the assumption of approximately C$550m in H&R debentures and approximately $1.1bn in property-level debt.Alongside Blackstone Real Estate, the consortium of co-purchasers includes Crestpoint Real Estate Investments, the Public Sector Pension Investment Board and a company controlled by family members of Tom Hofstedter, chief executive of H&R.“We have built one of the highest-quality luxury residential portfolios in New York City, and this transaction takes that foundation and adds Sunbelt scale, balance sheet strength and earnings growth – transforming GO into one of Canada's largest publicly-traded residential REITs,” said Joshua Gotlib, chief executive of GO Residential REIT. “It will be a platform with a greater opportunity set, and competing for a different category of investor.”Once complete, the deal will see GO acquire a portfolio of 27 properties and nearly 10,300 suites across seven Sunbelt markets and New York – adding to GO REIT’s 10 properties comprising 3000-plus suites in the New York City area.“The board has unanimously concluded that this transaction is in the best interests of GO,” said Meyer Orbach, chairman of GO Residential REIT. “It addresses, in a single step, the issues that have limited GO’s valuation – concentration, leverage and scale – while preserving the quality and integrity of the portfolio our team has assembled.”The transaction is expected to close in Q4 2026, subject to customary closing conditions.Mr Gotlib concluded: “We are acquiring best-in-class assets at an attractive basis, and we are doing it in a way that makes GO financially stronger and more diverse, consistent with our long-term strategy.”News: CCanada's H&R REIT agrees to $4.81 billion breakup deal with GO Residential, Blackstone consortium
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