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The Caisse de dépôt et placement du Québec building is seen in Montreal on Feb. 26, 2014.
The Caisse de dépôt et placement du Québec building is seen in Montreal on Feb. 26, 2014.
(CHRISTINNE MUSCHI/REUTERS)

Ivanhoé Cambridge to sell parcel of assets to REIT

Ivanhoé Cambridge’s decision to sell a portfolio of its smaller shopping centres follows similar moves by other major real estate players.

Ivanhoé, the real estate arm of the Caisse de dépôt et placement du Québec, announced on Tuesday that it will be selling 11 shopping centres, three office buildings and one industrial property to Cominar Real Estate Investment Trust for $1.527-billion. Two of the properties involved in the acquisition are co-owned by third parties. The REIT will make offers to acquire those interests, which if accepted, would increase the purchase price to $1.63-billion.