Northview Residential Reit Announces Closing Of Previously Announced Recapitalization Transaction, Including The Acquisition Of Three Portfolios For $742 Million

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.