TORONTO and NEW YORK, June 15, 2026 /CNW/ - GO Residential Real Estate Investment Trust ("GO Residential REIT" or the "REIT") (TSX: GO.U) announced the closing of two previously announced acquisitions, further strengthening the REIT's track record of acquiring market-leading, luxury high-rise multifamily properties in New York City.  Each of the previously announced acquisitions is expected to enhance the REIT's scale, portfolio quality and long-term growth profile.

Acquisition Activity

On May 28, 2026 and June 5, 2026, GO Residential REIT completed the indirect acquisitions of 7 Dey Street located at 7 Dey St., New York, NY 10007, and Ivy Tower located at 345 W 42nd St. and 350 W 43rd St., New York, NY 10036, respectively (the "Acquisitions").

The Acquisitions continue to accelerate the REIT's scale in New York City markets, enhance the quality of its portfolio and mark a pivotal step forward in the REIT's strategy to become a premier owner and operator of luxury high-rise multifamily assets. The Acquisitions are expected to contribute to the REIT's sustainable cash flow and long-term value creation through proactive asset management and operational excellence.  In addition, the Acquisitions are expected to be immediately accretive to annualized AFFO Adjusted per Unit.

The Acquisitions were funded by a disciplined and diversified capital stack consisting of available cash and the arrangement of approximately $146.3 million of new fixed-rate mortgage debt on 7 Dey Street. The new fixed-rate mortgage debt bears a 4.50% interest rate (which was reduced from 4.96% pursuant to an interest rate escrow) and matures in 2031. The composition of the consideration for the Acquisitions allows GO Residential REIT to maintain its strong capital structure and financial leverage metrics within the REIT's previously disclosed target range.

The acquisition of Ivy Tower  represents the REIT's first addition to its unencumbered asset pool. Building an unencumbered asset pool is a key strategic priority of the REIT as it enhances the REIT's financial flexibility and is expected to further improve access to future unsecured funding.

Pro forma the Acquisitions, the REIT will have 2,545 residential suites in its portfolio, which is a 26% increase from its reported suite count of 2,015 as of March 31, 2026.

"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."

7 Dey Street

7 Dey Street is a striking modern luxury 209 suite high-rise residential tower located in the heart of Tribeca, steps from the Fulton Transit Center and the World Trade Center. This 33-story glass tower was completed in 2019 and offers a mix of studio, one-bedroom, two-bedroom, and three-bedroom residences, including penthouse suites. The building features thoughtfully designed suites with oversized windows, white oak flooring, custom cabinetry, quartz countertops, integrated appliances, and in-suite washers and dryers. Residents enjoy a comprehensive suite of amenities including a concierge-attended lobby, fitness center, co-working spaces, resident lounges, rooftop terrace, bike storage, and common laundry facilities. The property also includes four commercial spaces, currently leased to leading tenants, including T-Mobile and Wells Fargo.

Ivy Tower

Ivy Tower sits between 8th and 9th Avenues on West 43rd Street, putting Times Square, the Theater District, Bryant Park, and the Hudson Yards waterfront within a short walk. Ivy Tower comprises 321 suites across 41 stories and offers a mix of studio, one-bedroom, two-bedroom, and three-bedroom residences. Eleven subway lines and the Port Authority Bus Terminal are minutes from the lobby – the rest of Manhattan, Brooklyn, and the airports are also accessible from the Ivy Tower's central location. Each luxury suite at Ivy Tower features oversized windows and open exposures that pull natural light deep into the floor plan. Kitchens are finished with granite countertops, full-size stainless appliances, and durable slate flooring. In addition, each suite is wired for high-speed internet and cable, with central HVAC and individual climate control.

Distributions

The REIT adopted a monthly distribution policy targeting approximately 65% of estimated annual AFFO and pays a monthly distribution of $0.05325 per Unit, representing $0.639 on an annual basis.

On June 15, 2026, the board of trustees of the REIT approved a cash distribution of $0.05325 per Unit for the month of June 2026, representing $0.639 per Unit on an annual basis. Payment will be made on or about July 15, 2026 to Unitholders of record as of the close of business on June 30, 2026.

All or a portion of distributions paid to Non-U.S.Holders (as defined in the Prospectus (as defined below)), including Canadian Unitholders, generally will be subject to U.S. withholding tax. For a general summary of the taxation of distributions paid to Unitholders, including information regarding U.S. withholding tax, please see the "Certain Canadian Federal Income Tax Considerations" and "Certain U.S. Federal Income Tax Considerations" sections in the REIT's prospectus dated July 24, 2025 (the "Prospectus"), a copy of which is available on the SEDAR+ website at www.sedarplus.com. Unitholders should consult their tax advisors for advice with respect to the tax consequences of receiving a distribution from the REIT in their particular circumstances.

About GO Residential REIT

GO Residential Real Estate Investment Trust is an internally managed, open ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. The REIT has been formed to provide investors with an opportunity to invest in luxury high-rise multifamily properties ("LHRs") located in the New York metropolitan area and other major metropolitan cities in the United States. The REIT owns and operates a portfolio of seven LHRs consisting of 2,545 luxury suites located in the borough of Manhattan, New York.

Forward-Looking Statements

This press release contains statements that include forward-looking information within the meaning of Canadian securities laws. Statements containing forward-looking information are neither historical facts nor assurances of future performance, but instead, provide insights regarding management's current expectations and plans and allows investors and others to better understand the REIT's anticipated business strategy, financial position, results of operations and operating environment. In some cases, forward-looking statements can be identified by terms such as "may", "will", "could", "occur", "expect",  "anticipate", "believe", "intend", "estimate", "target", "project", "predict", "forecast", "continue", or the negative  thereof or other similar expressions concerning matters that are not historical facts including with respect to the Acquisitions and their expected impact on the REIT, results of operations, performance, business prospects, opportunities of the REIT (including future acquisitions).

Forward-looking statements are based on information currently available to management and on estimates and assumptions, including assumptions about future economic conditions and courses of action. Examples of material estimates and assumptions and beliefs made by management in preparing such forward-looking statements include, but are not limited to: the global economy will remain stable over the next 6 months; inflation will remain relatively stable; interest rates will remain relatively stable; no unforeseen changes in the legislative and operating framework for the REIT will occur, including unforeseen changes to tax laws; and conditions within the U.S. LHR industry generally, including competition for acquisitions, will be consistent with the current climate.

SOURCE GO Residential Real Estate Investment Trust