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Loblaw files a preliminary prospectus to create one of Canada’s largest commercial real estate trusts.
Loblaw files a preliminary prospectus to create one of Canada’s largest commercial real estate trusts.
(Fernando Morales/The Globe and Mail)

Streetwise

Not much for the Loblaw REIT in Shoppers deal

One of the first questions coming up in the wake of the announcement of Loblaw Cos. Ltd.’s plan to buy Shoppers Drug Mart Corp. for $12.4-billion is: What does it mean for the Loblaw REIT?

The answer, it seems, is not very much. Loblaw just completed the initial public offering of Choice Properties Real Estate Investment Trust, which will hold the grocer’s huge real estate portfolio.