Clarke signs deal to acquire commercial real estate firm Ravelin Properties REIT
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $1.44 a week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $5.77 plus GST every four weeks. After 52 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
HALIFAX – Clarke Inc. has signed a deal to acquire Ravelin Properties REIT in a deal that values the owner of commercial real estate assets in North America and Europe at $1.1 billion, including assumed debt.
Clarke chief financial officer Tom Casey says the acquisition will result in a company with diversified geographic exposure and scale, which will provide Clarke shareholders with significant upside and liquidity.
Ravelin has been evaluating alternatives to deal with its financial difficulties, including defaults on its existing debt and its ongoing capital requirements.
Under the all-stock deal, Clarke will acquire all of the outstanding units of trust, its 9.00 per cent convertible unsecured subordinated debentures, 5.50 per cent convertible unsecured subordinated debentures and 7.50 per cent convertible unsecured subordinated debentures
Clarke says it expects to issue 2.5 million shares in the transaction. Once the deal is complete, existing Clarke shareholders will hold 83.8 per cent of the combined company while Ravelin securityholders will own 16.2 per cent.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions including approval by Ravelin unitholders and debentureholders.
This report by The Canadian Press was first published March 27, 2026.
Companies in this story: (TSX:CKI, TSX:RPR.UN)