In March, the $22 billion non-traded fund was the target of an unsolicited tender offer from Saba and Cox Capital at a steep discount.
The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.
Funds managed by Apollo have invested more than $1 billion in a joint venture with the trust, which will use the proceeds to repay a significant portion of its credit facility.
The disposition unlocks approximately $9 million of capital for the trust and realizes the promote earned on the transaction.
The capital raise, which will fund further acquisitions across Canada, was completed through an iCapital-managed investment vehicle.
The four-property deal adds more than 2,000 beds to its portfolio of student housing assets.
The trust repurchased approximately $120 million of outstanding shares in Q1, representing around 1.5% of its $8.1 billion March NAV.
Launched in October 2025, IREX IV Industrial Portfolio DST consists of three industrial properties across Florida and North Carolina.
The announcement comes as investors in Blue Owl's non-traded BDC shunned an earlier Saba and Cox Capital joint-offer to repurchase shares at a steep discount.
The non-traded fund currently has more than $2 billion in outstanding redemption requests.
