Inside the Market’s roundup of some of the Canadian small caps making news and on the move today. This post will be updated during the trading day.
Cominar Real Estate Investment Trust has purchased a portfolio of shopping centres and office buildings in a deal worth approximately $1.63-billion from Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec. The properties are located in Quebec and Ontario. In order to help fund the buy, Cominar said that it would issue $500-million worth of new units, with half of that to be bought by Ivanhoé Cambridge. The company will also receive additional $250-million in financing from Otéra Capital, the commercial real estate financing subsidiary of La Caisse.