Subscribe to our Newsletter Subscribe to our Magazine
shopping-bag-money-investing

The Canada Pension Plan Investment Board has agreed to sell three regional shopping centres in Canada for more than $500 million.

Morguard Investments Ltd. has purchased the malls on behalf of its clients, Healthcare of Ontario Pension Plan (HOOPP) and Morguard Real Estate Investment Trust.

HOOPP will acquire a 100% interest in two Ontario retail properties: Intercity Shopping Centre in Thunder Bay and New Sudbury Shopping Centre in Sudbury.

“Market-dominant retail assets, such as these two commercial shopping malls, align with our commitment to pursue high-quality assets for HOOPP’s real estate portfolio,” says Michael Catford, HOOPP’s vice-president of real estate.

And Morguard Real Estate Investment Trust will acquire a 100% interest in Pine Centre Mall in Prince George, B.C.

The sale is expected to close in the middle of December.

Related articles:

© Copyright 2014 Rogers Publishing Ltd. Originally published on benefitscanada.com

Add a comment

Have your say on this topic! Comments that are thought to be disrespectful or offensive may be removed by our Benefits Canada admins. Thanks!

* These fields are required.
Field required
Field required
Field required