TORONTO – Primaris Real Estate Investment Trust says it has signed a deal to purchase a Halifax shopping center complex for $370 million.
The deal includes the Halifax Shopping Center and the annex adjacent to the mall.
Halifax Shopping Center is an enclosed shopping center and its tenants include Sport Chek, Zara, Apple and Aritzia.
The Annex is an open-air center with tenants such as Walmart, Sobeys and Dollarama.
Under the agreement, Primaris will pay $200 million in cash, $45 million in the trust’s Series A units and $125 million in exchangeable preferred units.
The deal is expected to close on November 30th.
This report by The Canadian Press was first published Nov. 20, 2023.
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