Primaris Retail REIT announced today that it completed the acquisition of five shopping centres from Ivanhoe Cambridge for $572 million dollars. These five regional shopping centres include:
Oakville Place, Oakville, ON
Burlington Mall, Burlington, ON
Tecumseh Mall, Windsor, ON
St. Albert Centre, Edmonton, AB
Place Vertu, Montreal, QC
John Morrison, President and CEO of Primaris said “The acquisition of these five shopping centres is significant for the growth of Primaris and will be accretive to the Primaris portfolio of properties. We are very pleased with this investment as we are adding a strong mix of shopping centres and retailers to our portfolio. We also welcome new employees to the Primaris team. This investment is consistent with our core strategy of owning shopping centres that have dominant positions in their primary trade areas.”