Brief: Tricon To Acquire U.S. Multi-Family Portfolio For About $1.4 Bln

Tricon Residential

02/04/2019 21:29

April 2 (Reuters) - Tricon Capital Group Inc  TCN.TO :
    * TRICON TO ACQUIRE ~7,300 UNIT, 2012 VINTAGE U.S.
MULTI-FAMILY
PORTFOLIO FOR APPROXIMATELY $1.4 BILLION
    * TRICON CAPITAL GROUP INC -  TRICON WILL ALSO INDIRECTLY
ASSUME
APPROXIMATELY $916 MILLION OF FUND'S EXISTING DEBT FROM DEAL
    * TRICON CAPITAL GROUP - DEAL TO BE FUNDED BY ISSUING 50.8
MILLION
TRICON SHARES TO FUND'S UNITHOLDERS AT AN IMPLIED PRICE OF
C$13.10 PER TRICON SHARE
    * TRICON CAPITAL GROUP INC - TRANSACTION HAS RECEIVED
UNANIMOUS
APPROVAL FROM BOARD OF DIRECTORS OF EACH OF TRICON AND FUND'S
GENERAL PARTNER
    * TRICON CAPITAL GROUP - WILL ACQUIRE ALL OF ISSUED &
OUTSTANDING
LIMITED PARTNERSHIP UNITS OF STARLIGHT U.S. MULTI-FAMILY (NO. 5)
CORE FUND
    * TRICON CAPITAL GROUP INC - TRANSACTION INCLUDES EQUITY
CONSIDERATION OF APPROXIMATELY $496 MILLION

Source text for Eikon:  ID:nCNWLsh90a 
Further company coverage:  TCN.TO 

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