On December 7, 2006, InterRent International Properties Inc. completed its conversion, by way of plan of arrangement, into a real estate investment trust. The REIT will focus on the acquisition and management of multi-residential properties in Ontario.
The conversion had the effect of combining InterRent's property portfolio with the portfolio of Silverstone Equities, resulting in a combined entity with over 1,700 units and over $100 million in assets.
InterRent was represented by Cassels Brock & Blackwell LLP with a team that included Lawrence Wilder, Tom Koutoulakis, Lindsay Clements, Brad Chapman and Andrea Taylor (securities), Alex Brainis (real estate), Robert Cohen (advocacy), Lorne Saltman and Marc Weisman (tax). D'Arcy Nordick and Jeffrey Singer of Stikeman Elliott LLP acted for Canaccord Capital Corporation, the financial advisor to InterRent.