OTTAWA, ON, Aug. 7, 2026 /CNW/ -- The Minto Group ("Minto") and Crestpoint Real Estate Investments Ltd. ("Crestpoint" and, together with Minto, the "Partners" or the "Partnership") are pleased to announce the completion of the previously announced arrangement agreement to acquire Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) (the "Transaction") in a transformative transaction representing an enterprise value of approximately $2.3 billion.
The Transaction was completed by way of a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario). Crestpoint acquired all issued and outstanding trust units of the REIT for cash consideration of $18.00 per unit, excluding units held directly or indirectly by Minto and certain senior officers. Minto has rolled over its entire 42.7 per cent equity interest into the Partnership.
With the Transaction now complete, Minto and Crestpoint have established a long-term, programmatic joint venture, with both parties committed to providing additional growth capital to fuel future expansion. The Partnership combines Minto's seven decades of residential expertise with Crestpoint's strong track record in real estate investment and asset management. Together, the Partners will focus on the long-term ownership of modern, purpose-built rental properties across core Canadian markets including Toronto, Vancouver, Calgary, Montreal, Ottawa, Victoria and Halifax. The Partnership will also target select value-add and repositioning opportunities, alongside new-build, stabilized, multi-family properties co-developed by the partnership over time.
Minto will continue to provide property management services for the jointly owned portfolio, as well as development and construction management services for future projects that meet the Partnership's investment criteria.
"We are proud to officially close this Transaction and begin our work with Crestpoint," said Michael Waters, Chief Executive Officer of Minto. "We share a clear vision for the future of Canadian housing. This Partnership allows us to expand our residential footprint and build more homes across the country, while staying true to the values that have guided our company since 1955."
"Completing this Transaction marks an exciting new chapter for Crestpoint," said Kevin Leon, President and Chief Executive Officer of Crestpoint. "We look forward to working alongside the Minto team to grow our multi-family portfolio and invest in high-quality rental communities across Canada."
Advisors
TD Securities Inc. acted as the exclusive financial advisor to the partners. Torys LLP acted as legal counsel to the partners and McCarthy Tétrault LLP acted as legal counsel to Crestpoint.
About Minto Group
The Minto Group is a premier real estate firm in Canada with a fully integrated real estate investment, development and management platform. Founded in 1955, Minto has built more than 100,000 new homes and continues to own and manage residential and commercial rental properties. With over 1,300 employees in Canada and the United States, the company's expertise spans the full spectrum of real estate investment disciplines. Minto has been recognized by Deloitte as one of Canada's Best Managed Companies.
For further information visit: minto.com
About Crestpoint
Crestpoint Real Estate Investments Ltd.is an affiliate of Connor, Clark and Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over $222 billion in assets for individuals, advisors and institutional investors. Established in 1982, CC&L has over 40 years of experience and has grown to be one of Canada's largest independently owned asset management firms with a presence across North America, Europe and Asia. CC&L's strategies span across equities, fixed income, alternative investments and multi-assets.
Crestpoint, established in 2010, focuses on commercial real estate and debt investments. The company collectively manages approximately $14 billion on behalf of institutional and high-net-worth clients and is a rapidly growing real estate investment and asset manager across Canada. Crestpoint's strategies span core plus real estate, opportunistic real estate, commercial debt investment and segregated funds and co-investments in all four major sectors in real estate.
SOURCE Minto Group
Minto Group Contact: Paul Baron, Chief Financial Officer, Minto Group, Tel: 613.782.5765; Crestpoint Contact: Lindsay Stiles, Chief Operating Officer, Crestpoint Real Estate Investments Ltd., Tel: 437.561.6105
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