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Canadian Tire’s proposed new REIT will acquire a majority of the company’s real estate, including 255 retail properties and one distribution centre.
Canadian Tire’s proposed new REIT will acquire a majority of the company’s real estate, including 255 retail properties and one distribution centre.
(Andy Clark/REUTERS)

Canadian Tire files REIT initial offering

Canadian Tire Corp. is gearing up to transfer 72 per cent of its owned property into a real estate investment trust in an initial public offering that could raise about $260-million.

The company filed its IPO prospectus with regulators on Tuesday with the intention to form CT REIT. The portfolio consists of 256 properties with 19-million square feet of leaseable land. One of those locations is a distribution centre, while the rest are retail locations.