TORONTO, April 1, 2024 /CNW/ - Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") (TSX: BRE) today announced the completion on March 31, 2024, of the Company's previously announced acquisition of Bridgemarq Real Estate Services Manager Limited (the "Manager") and Proprio Direct Inc. ("Proprio Direct" and collectively with the Manager and with their subsidiaries, the "Target Entities") from an affiliate of Brookfield Business Partners ("Brookfield"), and the settlement of certain payments owing by the Company (collectively, the "Transaction"). As consideration for the Transaction, 2,920,877 Class B subordinated limited partnership units (the "Exchangeable Units") of Residential Income Fund L.P. (the "Partnership") were issued to Brookfield, which are exchangeable on a one-for-one basis into an equivalent number of restricted voting shares (the "Restricted Voting Shares") of the Company.
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