Primaris REIT buying Halifax shopping complex for $370 million

CITYnews halifax / By The Canadian Press

TORONTO — Primaris Real Estate Investment Trust says it has signed a deal to buy a shopping centre complex in Halifax for $370 million.

The deal includes the Halifax Shopping Centre and the Annex, which sits adjacent to the mall.

The Halifax Shopping Centre is an enclosed shopping centre and its tenants include Sport Chek, Zara, Apple and Aritzia.

The Annex is an open air centre with tenants including Walmart, Sobeys and Dollarama.

Under the agreement, Primaris will pay $200 million in cash, $45 million in series A units in the trust and $125 million in exchangeable preferred units.

The deal is expected to close on Nov. 30.

This report by The Canadian Press was first published Nov. 20, 2023.

Companies in this story: (TSX:PMZ.UN)

The Canadian Press