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

Date Closed

July 12, 2023

Lead Office



270.00 Million CAD

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).