12:17 PM EST - Tricon Residential Inc. : Has reached an agreement in principle to enter into a joint venture arrangement with two institutional investors to invest in Tricon's wholly-owned portfolio of 23 U.S. multi-family apartments. Under the Joint Venture, the Investors will acquire a combined 80% interest in the existing portfolio, with Tricon retaining a 20% interest. The transaction reflects a total portfolio value of $1.331 billion including in-place debt, which is in line with the portfolio's fair value reflected on Tricon's balance sheet as of December 31, 2020. Tricon Residential Inc.
shares T.TCN are trading down $0.05 at $12.37.
