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Primaris REIT Announces Closing of Trophy Shopping Centre, Conestoga Mall

Newswire.ca - Wed Jul 12, 2023

TORONTO, July 12, 2023 /CNW/ - Primaris Real Estate Investment Trust ("Primaris" or the "Trust") (TSX: PMZ.UN) announced today that the transaction originally announced on June 19, 2023, for the purchase of Conestoga Mall in Waterloo, Ontario from Ivanhoé Cambridge, has closed. The transaction, which was subject to customary closing conditions, all of which have been fulfilled, was for aggregate consideration of $270.0 million, satisfied by a combination of cash and equity, as described in the June 19 release. This high quality asset acquisition is consistent with Primaris' previously expressed growth strategy, to own and acquire market leading shopping malls.

Read more at newswire.ca

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