Ivanhoé Cambridge to sell shopping mall assets to Cominar for $1.5 bln
Ivanhoé Cambridge, the real estate investment arm of the Caisse de dépôt et placement du Québec, has agreed to sell a portfolio of shopping centres and other assets to Cominar Real Estate Investment Trust (REIT) for $1.527 billion. The portfolio consists of 15 shopping centres and other commercial and industrial properties in Québec and Ontario. The transaction, which is expected to be completed no later than November, includes a $250 million equity private placement by Ivanhoé in Cominar, which will make Ivanhoé the REIT's largest unitholder.
27 August 2014•8 mins read
