TORONTO — H&R Real Estate Investment Trust says it has agreed to sell all of its assets to GO Residential Real Estate Investment Trust for around $6.7 billion and a consortium of other companies, including U.S. private equity firm Blackstone Inc.

H&R, one of Canada’s largest real estate investment trusts, says the deal includes a portfolio of 27 properties and nearly 10,300 suites across seven Sunbelt markets and New York, which will add to GO REIT’s 10 properties comprising 3,000-plus suites in the New York City area.

Along with Blackstone Real Estate, the consortium of co-purchasers includes Crestpoint Real Estate Investments, the Public Sector Pension Investment Board and a company controlled by family members of H&R chief executive Tom Hofstedter.

H&R says the transaction concludes its multi-year strategy to simplify its portfolio and focus on high-quality residential assets, while providing its unitholders with a 66.9 per cent ownership stake in GO REIT on a pro forma basis.

The deal is expected to close in the fourth quarter of this year, subject to unitholder, court and regulatory approvals.

H&R confirmed in June it had held talks with Blackstone regarding a potential sale of certain assets after a request by securities regulators following media reports.

This report by The Canadian Press was first published Aug. 11, 2026.

Companies in this story: (TSX:HR.UN)

The Canadian Press