The Globe and Mail reports in its Tuesday, Jan. 6, edition that Minto Apartment REIT is going private in a deal valued at $2.3-billion, including debt. The Globe's Tim Kiladze writes that Minto is being taken private for $18 a unit by Crestpoint Real Estate Investments, which will own 50.1 per cent of the company. Crestpoint is a division of Connor, Clark & Lunn Financial Group. Minto Group, controlled by the founding Greenberg family, will own 49.9 per cent. The takeover price amounts to a 32-per-cent premium over Minto's last closing price, but is still about 10 per cent below the REIT's market price five years ago. The S&P/TSX Composite Index is up about 80 per cent over the same time period. Minto Group has developed real estate for decades, with the Greenbergs taking their apartment division public in 2018. Minto Apartment REIT's unit price surged on the Toronto Stock Exchange as multifamily assets thrived due to ultralow interest rates and a supply crunch. The REIT, like many others, has struggled since interest rates began to rise in 2022. Minto predominatly operates in Toronto, Ottawa and Montreal, and it tends to own higher-end buildings that compete with the new condo supply.