TORONTO and NEW YORK, June 15, 2026 – GO Residential Real Estate Investment Trust (“GO Residential REIT” or the “REIT”) (TSX: GO.U) has announced the closing of two previously announced acquisitions, further strengthening its track record of acquiring market-leading, luxury high-rise multifamily properties in New York City. Each acquisition is expected to enhance the REIT’s scale, portfolio quality, and long-term growth profile.
Acquisition Details
On May 28, 2026 and June 5, 2026, GO Residential REIT completed the indirect acquisitions of 7 Dey Street at 7 Dey St., New York, NY 10007, and Ivy Tower at 345 W 42nd St. and 350 W 43rd St., New York, NY 10036, respectively. These acquisitions accelerate the REIT’s scale in NYC markets, enhance portfolio quality, and mark a pivotal step in its strategy to become a premier owner and operator of luxury high-rise multifamily assets.
Financial Impact and Funding
The acquisitions are expected to contribute to sustainable cash flow and long-term value creation through proactive asset management and operational excellence. They are also expected to be immediately accretive to annualized AFFO Adjusted per Unit. The transactions were funded using available cash and approximately $146.3 million in new fixed-rate mortgage debt on 7 Dey Street, bearing a 4.50% interest rate (reduced from 4.96% via an interest rate escrow) and maturing in 2031. This capital structure maintains the REIT’s strong financial leverage within its target range.
Unencumbered Asset Pool Growth
The acquisition of Ivy Tower represents the REIT’s first addition to its unencumbered asset pool, a key strategic priority that enhances financial flexibility and improves access to future unsecured funding. Pro forma the acquisitions, the REIT will have 2,545 residential suites, a 26% increase from 2,015 suites as of March 31, 2026.
Executive Commentary
“These transactions are poised to strengthen our platform by improving portfolio quality, expanding our footprint, and supporting sustainable long-term growth. Equally important, they have been executed in a way that underscores our continued focus on maintaining a conservative balance sheet,” said Joshua Gotlib, Chief Executive Officer of GO Residential REIT.
Meyer Orbach, Chairman of GO Residential REIT, added: “These acquisitions send a clear and compelling signal to the market that GO Residential REIT is well-positioned to identify and execute on accretive growth opportunities. These transactions not only reinforce the strength of our platform but also demonstrate the depth of our sourcing capabilities and our ability to translate strategy into meaningful value creation for our unitholders.”
