La Case and Fairview exchange for $ 245 million

The real estate arm of Caisse de dépôt et placement and Fairview is trading half of the Pointe-Claire and Galeries d’Anjou malls for $ 245 million.

“For us, it’s a win. We support our assets in Quebec. You gain agility by becoming a 100% owner and manager of Galeries d’Anjou,” summed up by Gabriel Milouche, Ivanhoé Cambridge spokesperson.

This exchange of half of the malls would facilitate expropriation to build new infrastructure for a future metro station near Galerie d’Ango, according to information published Journalism in April.

Anjou versus Pointe Claire

Basically, Quebecers wool socks, via its real estate arm Ivanhoé Cambridge, sells to Cadillac Fairview, a teacher’s affiliate, half of which are Fairview Pointe Claire for $ 245 million, according to documents I consulted. Newspaper.

Prior to this deal, Ivanhoé Cambridge and Cadillac Fairview owned 50% of this shopping center. It is now wholly owned by the teacher.

On West Island, Fairview Pointe Claire Shopping Center is a nerve center with more than 200 stores, such as Hudson’s Bay, Old Navy, Renaud-Bray, Sports Experts / Atmosphere, Winners, and HomeSense.

Another $ 232 million deal

At the same time as this deal, Cadillac Fairview sells half of Galeries d’Anjou for $ 232 million to Ivanhoé Cambridge, who becomes its full owner.

The Galeries d’Anjou shopping center is a major hub in eastern Montreal. It is home to major banners, such as Hudson Bay, The Simons, Sports / Atmosphere Experts, The Break, Saks OFF 5th, and winners.

Evanoy Cambridge is a major player in commercial real estate. It owns about 1100 buildings. Its total assets were over $ 60.4 billion as of December 31.

READ  Another operation by Juan Martin del Potro

For its part, Cadillac Fairview manages more than $ 36 billion in assets in the Americas and the United Kingdom.

Cadillac Fairview was unable to provide details immediately yesterday.

♦ Small shopping malls must also adapt to public transportation projects. The Boulevard, in Saint-Léonard, will be closed due to the extension of the blue metro line.

Leave a Reply

Your email address will not be published. Required fields are marked *