Primaris REIT completes C$4.6 billion sale to H&R REIT
April 04, 2013
4.60 Billion CAD
On April 4, 2013 , H&R Real Estate Investment Trust completed its acquisition of Primaris Retail Real Estate Investment Trust. As part of the transaction, a KingSett Capital-led consortium, which consists of certain KingSett Capital managed funds, Ontario Pension Board and RioCan REIT, acquired 17 Primaris properties pursuant to separate purchase agreements between Primaris and the consortium members. H&R then acquired Primaris and its remaining 27 properties.
Primaris REIT, headquartered in Toronto, Ontario, specializes in owning and operating Canadian enclosed shopping centres.
H&R REIT, headquartered in Toronto, Ontario, is an open-ended real estate investment trust.
KingSett Capital, headquartered in Toronto, Ontario, is a private equity real estate investment business, co-investing with pension fund and high net worth individual clients.
McCarthy Tétrault LLP represented Primaris REIT, with a team led by Graham Gow.