Northview Residential Reit Announces Closing Of Previously Announced Recapitalization Transaction, Including The Acquisition Of Three Portfolios For $742 Million
Northview Residential Reit Announces Closing Of Previously Announced Recapitalization Transaction, Including The Acquisition Of Three Portfolios For $742 Million
08/21/23, 1:57 PM
Industry
real estate
Northview Residential REIT (“Northview” or the “REIT”) (TSX: NHF.UN) today announced that it had completed its unitholder approved recapitalization transaction, including the acquisition of three multi-family portfolios comprising 20 properties for an aggregate purchase price of approximately $742 million (the “Transaction”). As a result of the Transaction, the existing Class C units (“Class C Units”) and Class F Units (“Class F Units”) were subdivided by their exchange ratios and the exchange ratios were amended such that Class C Units and Class F Units are now exchangeable on a 1:1 basis for the REIT’s listed Class A units (“Class A Units”). Effective upon closing of the Transaction, the REIT’s name was changed from Northview Fund to Northview Residential REIT.
Company Info
Company info
The REIT is a real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario for the primary purpose of indirectly acquiring, owning and operating a portfolio of income producing rental properties in secondary markets within Canada.
To learn more about the REIT, visit www.rentnorthview.com or contact:
Todd Cook, Chief Executive OfficerNorthview Residential REITTel: (403) 531-0720Email: tcook@nvreit.ca
Sarah Walker, Chief Financial OfficerNorthview Residential REITTel: (403) 531-0720Email: swalker@nvreit.ca