Origin Merchant Partners is pleased to announce that True North Apartment REIT has agreed to acquire a portfolio of 29 properties and instalment notes for approximately $286 million (the “Acquisition”). The closing of the Acquisition is subject to certain customary closing conditions, including lender consents.
Origin Merchant Partners was retained by the Special Committee of the Board of Directors of True North Apartment REIT to provide a Fairness Opinion with respect to the Acquisition.
True North Apartment REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT focuses on a long-term strategy to generate stable cash distributions on a tax efficient basis for Unitholders. The REIT intends to actively look for opportunities to expand its asset base and increase its distributable cash flow through acquisitions of additional multi-suite residential rental properties across Canada, the United States and other jurisdictions where opportunities may arise.