6 Firms Guide $3.6B Northview Apartment REIT Deal

Law360 (February 20, 2020, 4:56 PM EST) -- Canadian real estate investment trust Northview Apartment REIT is being bought up by an asset manager and a private equity group, the companies said Thursday, in a deal worth CAD$4.8 billion ($3.6 billion) and led by six Canadian firms.

Asset manager Starlight Investments and private equity group KingSett Capital Inc. will acquire Calgary-based Northview for about $27.34 per unit, a 12% premium over Northview's all-time-high closing unit price and a 17% premium over its 30-day averaged unit price, the companies said.

Northview investors also have the option of converting some of their units into ownership stakes in a new fund by KingSett...

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