Minto Group and Crestpoint to Form New Partnership and Announce Take-Private Transaction of Minto Apartment REIT
Transaction Highlights
- Minto Group and Crestpoint announce the formation of a new programmatic joint venture partnership and take-private transaction of Minto Apartment REIT valued at $2.3 billion
- Minto Group and its affiliated entities to retain a significant equity interest in the new Partnership
- The formation of the Partnership and take-private transaction will combine the strengths of Minto Group’s seven decades of expertise with Crestpoint’s consistent track record of real estate investing success to form a leading Canadian multi-family owner, operator and development platform
OTTAWA, ON, Jan. 5, 2026 /CNW/ – Minto Group (“Minto”), together with Crestpoint Real Estate Investments Limited Partnership (“Crestpoint” and, together with Minto, the “Partners”), announced today that they will form a new programmatic joint venture partnership (the “Partnership”) and have simultaneously entered into an arrangement agreement (the “Arrangement Agreement”) to acquire Minto Apartment Real Estate Investment Trust (the “REIT”) (TSX: MI.UN) (the “Transaction”).
As part of the Transaction, Crestpoint will acquire all of the outstanding trust units of the REIT, other than trust units held directly or indirectly by Minto and certain senior officers (the “Retained Interest Holders”), for $18.00 per trust unit in cash. The Transaction is valued at approximately $2.3 billion, including the assumption of net debt and the trust units of the REIT controlled by the Retained Interest Holders and the class B limited partnership units of Minto Apartment Limited Partnership held by Minto and certain affiliates.
The Partnership will create a leading Canadian multi-family platform focusing predominantly on the long-term ownership of recent generation, purpose-built rental properties in Canada. The Partnership will consider select value-add and repositioning opportunities and will look to potentially acquire new-build, stabilized multi-family properties that will be co-developed by the Partnership over time.
Minto and Crestpoint view the Partnership as long-term and programmatic, whereby both parties have agreed to provide additional growth capital to the Partnership. In addition to the seed REIT portfolio, the Partnership’s acquisition and development strategy will focus primarily on core Canadian markets, including, but not limited to, Toronto, Vancouver, Calgary, Montreal, Ottawa, Victoria, Halifax and other GTA-adjacent areas. Initial and future portfolio properties owned by the Partnership will be jointly managed by Crestpoint and Minto, with Minto providing services for property management. Additionally, Minto will provide development and construction management services on future development opportunities that meet the investment criteria of the Partnership, with oversight provided by Crestpoint.
“Minto is excited to announce this strategic transaction and partnership with Crestpoint – a best-in-class real estate investor with a shared vision and commitment to long-term success,” said Michael Waters, Chief Executive Officer of Minto Group. “We believe that this partnership will best enable Minto to execute on its strategic initiatives moving forward, while ensuring the company remains true to the core values it has upheld for over 70 years.”
“We are thrilled and proud to announce this new partnership and transaction with Minto,” said Kevin Leon, President & Chief Executive Officer of Crestpoint. “This transaction will significantly enhance our multi-family exposure across the country while allowing us to work and grow alongside a successful and reputable partner that has decades of experience in the sector.”
Advisors
TD Securities Inc. is acting as exclusive financial advisor to the Partners and Torys LLP is acting as legal counsel to the Partners. McCarthy Tetrault LLP is 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.
About Crestpoint Real Estate Investments
Crestpoint Real Estate Investments Limited Partnership is an affiliate of Connor, Clark & Lunn Financial Group Ltd. (“CC&L”), a multi-boutique asset management firm whose affiliates collectively manage over $167 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. Crestpoint collectively manages over $11 billion on behalf of institutional and high-net-worth clients and is one of the fastest growing real estate asset managers across Canada. Crestpoint’s strategies span core plus real estate, opportunistic real estate, commercial debt, and segregated funds and co-investments.
SOURCE Minto Group
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