Primaris Real Estate Investment Trust acquires Conestoga Mall in Waterloo, Ontario from Ivanhoé Cambridge for C$270M

On June 19, 2023, Primaris Real Estate Investment Trust (“Primaris”) announced that it has agreed to acquire Conestoga Mall in Waterloo, Ontario from Ivanhoé Cambridge, for aggregate consideration of C$270 million, to be satisfied by a combination of cash and equity.

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.

McCarthy Tétrault is assisting Ivanhoé Cambridge with a team led by Jamie Orzech that includes Janie Lambert-Roy (Business), Victor Choi (Real Property and Planning), Christian Meighen, Marie-Soleil Landry, Kassandra Grenier, Etienne C. Laplante, Randy Schwartz and Simon Douville (Tax).