GO REIT to Acquire H&R REIT Assets for C$6.7 Billion

GO Residential Real Estate Investment Trust and a consortium of co-purchasers entered into an arrangement agreement to acquire all assets of H&R Real Estate Investment Trust in a transaction valued at approximately C$6.7 billion, including the assumption of certain debt.

The deal includes a portfolio of 27 properties and nearly 10,300 suites located in New York and seven Sunbelt markets. H&R unitholders will receive C$4.28 in cash and 0.5688 GO REIT units per H&R unit, representing a total value of C$12.01 per unit. This arrangement grants H&R unitholders a 66.9% pro forma ownership stake in GO REIT.

The purchasing consortium consists of Blackstone Real Estate, Crestpoint Real Estate Investments, the Public Sector Pension Investment Board, and a company controlled by the family of H&R CEO Tom Hofstedter. The transaction concludes H&R's strategy to simplify its portfolio and is expected to close in the fourth quarter of 2026, pending regulatory, court, and unitholder approvals.