US-based alternative asset manager completes C$210M retail portfolio sale to HZ Capital
On August 24, 2026, a US-based alternative asset manager and its related entities (the "client") sold a portfolio of 21 retail properties located in Alberta, British Columbia, Saskatchewan, Manitoba, Ontario, Québec, New Brunswick and Newfoundland and Labrador to HZ Capital Inc. and its assignee, Calob Properties L.P., for approximately C$210 million.
A twenty-second property, located in Fort McMurray, Alberta, closed separately on September 3, 2026 as part of a coordinated two-stage closing process. The transaction represented one of the largest multi-jurisdictional retail portfolio dispositions undertaken by the client in Canada, requiring coordination of title and off-title due diligence across eight provinces, management of numerous local counsel, complex escrow and holdback arrangements, lender payout and discharge coordination, tenant and leasing diligence, and section 116 withholding tax arrangements.
The client is listed on the New York Stock Exchange and owns several assets in Canada.
McCarthy Tétrault LLP advised the client with a team led by Ted A. Cox that included Marie-Josée Marcoux, Kathy Tran, Luke Madill, Xin Yue Zhang, and Damiana N. Pavone (Real Estate).
