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H&R REIT Agrees to C$6.7 Billion Acquisition by GO REIT, Buyer Consortium

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H&R Real Estate Investment Trust (HR-UN.TO) said Tuesday it entered into an agreement under which GO Residential REIT (GO-U.TO) and a consortium of buyers, including funds affiliated with Blackstone Real Estate, Crestpoint Real Estate Investments and PSP Investments, will acquire all of H&R's assets in a cash-and-unit transaction valued at about C$6.7 billion, including the assumption of certain debt.

H&R unitholders will get C$4.28 per unit in cash and 0.5688 GO REIT units per H&R unit, under terms of the deal. Closing of the deal is expected in the fourth quarter of 2026, subject to some conditions.

Blackstone will buy some of H&R's Canadian industrial properties for cash, it said. While some of H&R's Canadian industrial properties will be bought by Crestpoint and PSP Investment Board, for cash, under the terms.

Shares of H&R REIT were last seen down 1% at C$10.78 on the Toronto Stock Exchange.

Price: $10.75, Change: $-0.14, Percent Change: -1.29%

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