Minto Apartment REIT completes going private transaction with Crestpoint and Minto

Torys acted as counsel to Crestpoint and Minto with a team led by John Emanoilidis and that included Brett Saulnier, Adam Ibrahim and Arron Chahal (corporate/M&A), Rose Bailey and Simon Knowling (real estate), Omar Wakil and Eric Patenaude (regulatory), Jennifer Lennon and Tom Stevenson (employment), Molly Reynolds (privacy), Corrado Cardarelli, Andrew Wong, Richard Johnson, David Mattingly and Chris Saki (tax).

On August 7, 2026, Minto Apartment Real Estate Investment Trust (“Minto Apartment REIT” or the "REIT") announced the completion of the previously announced arrangement agreement with an affiliate of Crestpoint Real Estate Investments Limited Partnership ("Crestpoint") and an affiliate of the Minto Group ("Minto").

Pursuant to the arrangement agreement, dated January 5, 2026, the transaction was structured as a statutory plan of arrangement under the Business Corporations Act (Ontario) and the Trustee Act (Ontario) through which Crestpoint acquired all of the issued and outstanding trust units of the REIT, other than those held directly or indirectly by Minto and certain senior officers (the "Retained Interest Holders"), for consideration of C$18.00 per unit. The all‑cash transaction values the REIT at approximately C$2.3 billion, including debt and the trust units controlled by the Retained Interest Holders and the class B limited partnership units ("Class B Units") of Minto Apartment Limited Partnership held by Minto and certain affiliates.

In connection with the transaction, Minto, which directly and indirectly holds approximately 42.7% of the voting interest in the REIT, rolled over its interest into Crestpoint.

Upon successful completion of the transaction, the trust units of the REIT are expected to be delisted from the TSX and the REIT will cease to be a reporting issuer in all of the provinces and territories of Canada.

Further information can be found on Canada Newswire’s website.

Minto Apartment REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to own income-producing multi-residential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multi-residential rental properties located in Toronto, Montreal, Ottawa, Calgary and Vancouver.

One of the fastest growing real estate asset managers across Canada, Crestpoint focuses on commercial real estate and debt investments, collectively managing over C$11 billion on behalf of institutional and high-net-worth clients and. It is an affiliate of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over C$167 billion in assets for individuals, advisors and institutional investors.

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, it has built more than 100,000 new homes and continues to own and manage residential and commercial rental properties.