Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec, has begun construction on an outlet shopping centre in Niagara-on-the-Lake, Ont.
It plans to invest nearly $200 million to build the mall, which is scheduled to open in May 2014 and will feature about 100 retailers.
“We are very excited to build an exceptional new shopping experience for the residents of and visitors to the Niagara Peninsula and beyond,” says the company’s David Baffa, senior vice-president, retail development, central region.
Separately, Ivanhoé Cambridge announced that it finalized the sale of the 42 avenue de Friedland office building in Paris to Assurances du Crédit Mutuel. Financial terms of the deal were not disclosed.
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