07:10 AM EDT, 05/27/2025 (MT Newswires) -- InterRent Real Estate Investment Trust (IIP-UN.TO) on Tuesday said it is being acquired by CLV Group and GIC in an all-cash transaction valued at $4 billion, including the assumption of net debt.

Unitholders will receive $13.55 per unit in cash, a 29% premium to InterRent's 90-day volume-weighted average price on the Toronto Stock Exchange as of May 26, a statement noted.

"We are pleased to provide immediate and certain premium value to our unitholders through this all-cash transaction with CLV Group and GIC, while also allowing InterRent to solicit superior proposals through a go-shop period of 40 days," said InterRent Chief Executive Brad Cutsey.

InterRent will continue to pay its regular monthly distribution per unit through closing of the transaction.

A special meeting of unitholders to consider the transaction is slated for the third quarter. The transaction is expected to close later this year or in early 2026, after which InterRent will be de-listed from the Toronto Stock Exchange.