U.S. Cortland Partners to buy Canada's Pure Multi-Family REIT for $1.2 bln

07/22/2019 11:22:00 AM (GMT)

U.S. real estate investment firm Cortland Partners plans to buy Canadian counterpart Pure Multi-Family REIT LP.

Pure Multi-Family noted that transaction represents a significant value for its unitholders with the flexibility to explore other potential proposals.

Additionally, the acquisition of Pure Multi-Family is expected to add to Cortland Partners' portfolio 7,055 more units across Texas and Arizona.

The $1.2 billion all-cash deal is subject to a go-shop period running through August 20.

Cortland Partners

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