Tricon Completes $570 Million U.S. IPO and Private Placement

Paul, Weiss advised Tricon Residential Inc. in its U.S. initial public offering, as well as its concurrent private placement of common shares to Blackstone Real Estate Investment Trust, Inc. (BREIT). Tricon is an owner and operator of single-family rental homes and multi-family rental apartments in the U.S. and Canada. The company issued 41,400,000 common shares to the public and 4,848,746 common shares to BREIT. Morgan Stanley, RBC Capital Markets, Citigroup, Goldman Sachs, Scotiabank and Keefe, Bruyette & Woods served as joint bookrunning managers for the offering.

The Paul, Weiss team included corporate partners Matthew Abbott and Christopher Cummings; and tax partner Scott Sontag.