Primaris Retail REIT completes C$377 million acquisition of shopping centre portfolio
March 04, 2013
377.00 Million CAD
On February 1, 2013, Primaris Retail REIT announced that it completed the previously announced its C$377 million acquisition of two clusters of shopping centres in Edmonton and Medicine Hat from T & T Properties.
Primaris, headquartered in Toronto, Canada, is a real estate investment trust that specializes in owning and operating Canadian enclosed shopping centres that are dominant in their local trade areas. As of April 4, 2013, Primaris is a wholly owned subsidiary of H&R REIT. All operating functions including leasing, accounting and property management are continuing under Primaris management. Primaris units are no longer publicly traded.
McCarthy Tétrault LLP represented Primaris as acquiror with a team that was led by Abraham Costin.