InterRent REIT

What InterRent REIT does

InterRent REIT is a growth-oriented Canadian real estate investment trust that owns, manages, and repositions income-producing multi-residential properties. As of 2025, the trust operates 13,000+ suites across 126 communities in Ontario, Quebec, and British Columbia, serving approximately 20,000 residents with a workforce of nearly 500 employees. The portfolio is organized under two sub-brands, the upscale Aspire Collection and the lifestyle-oriented LIFE Collection, targeting diverse personas including students, young professionals, families, commuters, newcomers to Canada, and retirees. Revenue is generated primarily through recurring monthly residential rental income, with ancillary streams from short-term and corporate rentals, and is supplemented by guideline-based rent increases. The company is publicly traded on the TSX (IIP.UN) and OTCMKTS (IIPZF), with a 3.0% dividend yield and a stated distribution philosophy of monthly cash distributions to unitholders. Distribution to investors is conducted via direct website leasing (irent.com), on-site leasing teams, and a toll-free contact center.

The trust has invested in portfolio-wide technology standardization through a 2026 partnership with 1VALET, deploying a unified smart building platform across 12,000 residential units that integrates facial recognition entry consoles and patented parcel management. It has also achieved 100% building certification coverage, including 82% Canadian Certified Rental Building certification and 18% BOMA BEST certification, and operates an ISO 50001-aligned Energy Management System across 66 communities (41% of the portfolio by gross floor area). In 2024, InterRent posted a GRESB score of 81 with 3 Green Stars, a 21% year-over-year improvement, alongside -6.0% like-for-like energy reduction and -6.2% like-for-like GHG reduction. Resident satisfaction reached 70% in the 2024 survey and the company hosted 206 resident events during the year.

InterRent is currently navigating two material corporate developments. First, Brad Cutsey resigned as CEO and President effective March 23, 2026 after a ten-year tenure, with COO Dave Nevins appointed Interim CEO. Second, the trust is advancing a proposed Arrangement Agreement with Carriage Hill Properties Acquisition Corp., a potential change-of-control transaction subject to remaining closing conditions including CMHC consents. Historical portfolio activity includes the 2016 acquisition of 1101 Rachel Street in Le Plateau-Mont-Royal, Montreal for $21.55 million (127 suites) and concurrent sale of 26 June Avenue in Brampton, Ontario for $8.675 million, illustrating a recurring strategy of capital recycling into higher-yield urban core assets.

Name

InterRent REIT

Legal name

InterRent Real Estate Investment Trust

Website

https://irent.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

251–500 employees

Short description

InterRent REIT is a Canadian growth-oriented REIT that owns and operates 13,000+ multi-residential suites across 126 communities in Ontario, Quebec, and British Columbia, serving approximately 20,000 residents through its Aspire and LIFE sub-brands.

Ownership category

akta.pro rank

Product category

Residential Real Estate (Multi-Family REIT)

NAICS

Consumer Goods Rental (5322)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

Keywords

• Multi-residential REIT
• Apartment rentals
• Residential property management
• Multi-family housing
• Real estate investment trust

Headquarters

HQ city

Ottawa

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain, Others

Revenue model

1. Residential Rental Income: Primary revenue stream from rental income generated by approximately 13,000 multi-residential suites across 126 communities in Ontario, Quebec, and British Columbia. The REIT provides Unitholders with a sustainable and growing cash distribution, payable monthly, derived from rental operations including base rent, guideline increases, and ancillary revenue streams.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

InterRent REIT owns, operates, and repositions a portfolio of approximately 13,000 income-producing multi-residential rental suites across 126 communities in Ontario, Quebec, and British Columbia, serving roughly 20,000 residents. Rental inventory is delivered through two branded collections — Aspire (upscale, high-end living) and LIFE (community-focused, value living) — plus flexible Short-Term & Corporate Rentals through its Extended Stay platform. Revenue is generated primarily through recurring monthly rental income, with ancillary services such as parking, storage, and on-site amenities.

Product overview

InterRent REIT operates as a growth-oriented real estate investment trust offering a unified multi-residential property portfolio across Canada. The core offering consists of income-producing rental properties managed through two distinct sub-brands: the Aspire Collection (upscale, high-end living experiences) and the LIFE Collection (comfortable, community-focused living). Supporting the core rental operations, InterRent offers a resident-facing digital Resident Portal for tenancy management, flexible Short-Term & Corporate Rentals for transitional living needs, and an online Rent Calculator tool. Additionally, InterRent has partnered with 1VALET to deploy a unified smart building platform across 12,000 residential units, bringing facial recognition entry and parcel management capabilities to its portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• InterRent REIT Multi-Residential Property Portfolio

Quantifiable outcome

• 70% of residents are 'Satisfied' or 'Extremely Satisfied' based on 2024 resident satisfaction survey
• +3 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• 1VALETcoreTechnology or Integration · 23 February 20261VALET has announced a partnership with InterRent REIT to deploy its unified smart building platform across 12,000 residential units in Canada, representing portfolio-wide standardization for the asset manager. The deployment includes 1VALET's next-generation entry consoles combining facial recognition and patented parcel management, positioning the company as a long-term standardization partner rather than a single-function vendor.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• CAPREIT (Canadian Apartment Properties REIT): Canada's largest residential REIT with ~65,000 suites across Canada, directly competing with InterRent in Ontario, Quebec, and BC multi-residential rentals. Operates under the same multi-family apartment model and is the primary benchmark for unitholder returns.
• Killam Apartment REIT: Canadian multi-residential REIT with ~17,000 apartments and 5,700 manufactured housing community sites, directly competing with InterRent in urban rental markets including Ontario, Quebec, and BC. Closely comparable in scale, portfolio strategy, and growth-oriented acquisition model.
• Boardwalk REIT: Multi-family residential REIT focused on Alberta, Saskatchewan, Ontario, and Quebec. Directly competes with InterRent for tenants and acquisition targets in shared Ontario and Quebec markets, with similar value-add repositioning strategy.
• Minto Apartment REIT: Toronto-based multi-residential REIT with ~13,600 suites concentrated in Ontario, BC, and Quebec - virtually the same core markets as InterRent. Highly comparable in scale, geographic footprint, and target tenant demographics.
• Morguard North American Residential REIT: Canadian REIT focused on mid-tier multi-residential apartments in Ontario, Quebec, and Alberta. Competes directly with InterRent in Ontario and Quebec urban markets with a comparable per-suite operating model.
• BSR REIT: Texas-headquartered multi-family REIT (originally Brad Smith REIT) with a growing Canadian portfolio. Provides a peer benchmark for valuation of multi-residential portfolios including exposure to U.S. multifamily fundamentals.
• Northview Residential REIT: Canadian residential REIT with multi-family apartments across Ontario, Quebec, Western Canada, and the Territories. Competes in Ontario and Quebec with InterRent for both tenants and acquisition opportunities.
• Tricon Residential: Toronto-based residential rental company managing ~38,000 single-family and multi-family units across the U.S. and Canada. Comparable in scale of operations, private/public capital structure, and growth-oriented acquisition strategy.

Broad incumbents

• Sun Communities: Large-cap U.S. REIT ($2.31B revenue, $15B+ market cap) operating manufactured housing, marinas, and RV resorts. Explicitly used as InterRent's valuation/operating benchmark in the source data; broader incumbent in residential real estate investment trusts.

Others

• CLV Group: Canadian multi-residential property management firm headed by InterRent Executive Board Chair Mike McGahan. Previously served as InterRent's external property manager until February 2018 and remains an adjacent operating partner in Canadian rental housing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@interrentreit
• Facebookfacebook.com/InterRentREIT
• LinkedInlinkedin.com/company/interrent-real-estate-investment-trust-iipzf-
• Instagraminstagram.com/interrentreit
• TikToktiktok.com/@interrentreit

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InterRent REIT