Tricon Capital Group Inc. (TSX:TCN), a Toronto-based investor and asset manager focused on residential real estate, agreed to acquire single-family rental (SFR) firm Silver Bay Realty Trust Corp. (NYSE: SBY) in a deal valued at $1.4 billion.
The transaction will be structured with an equity purchase price of $820 million and the assumption of $600 million of Silver Bay debt that will be refinanced in conjunction with the acquisition.
The transaction...
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