Cominar Buys $1.5 Billion Shopping Center Portfolio in Canada

Montreal – After the transaction, Ivanhoé Cambridge will own approximately 8.5 percent of Cominar’s shares and will be the REIT’s largest shareholder.

Montreal – Cominar REIT has purchased a portfolio of shopping centers and office buildings in Canada from Ivanhoe Cambridge for $1.5 billion. The assets include 11 shopping centers, three office buildings and one industrial property, all located in Quebec and Ontario. After the transaction, Ivanhoé Cambridge will own approximately 8.5 percent of Cominar’s shares and will be the REIT’s largest shareholder. Some of the shopping center properties included in the sale include Mail Champlain in Brossard, Quebec; Dixie Outlet Mall in Mississauga, Ontario; and Carrefour St-Georges in Saint-Georges, Quebec.

   — Scott Reid

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