Northview Residential Reit Announces Closing Of Previously Announced Recapitalization Transaction, Including The Acquisition Of Three Portfolios For $742 Million
Acquiring Company
Northview Fund
Acquired Company
Three Portfolios
Description
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.
Quick answer
Northview Fund is acquiring Three Portfolios for $742 million, announced August 21, 2023.
- How much did Northview Fund pay for Three Portfolios?
- The reported deal value is $742 million.
- What does Northview Fund do?
- 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..
Source: Fundz verified event record.
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Frequently asked
Who acquired Three Portfolios?
Three Portfolios was acquired by Northview Fund. The deal was reported on August 21, 2023. Northview Fund is privately held and operates in Real Estate.
When did Northview Fund acquire Three Portfolios?
Northview Fund's acquisition of Three Portfolios was reported on August 21, 2023. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Three Portfolios do?
Three Portfolios is the company acquired in this transaction. It is privately held.
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