KingSett-Led Group Puts Up $4.4B For Shopping Mall REIT

Law360, New York (December 5, 2012, 2:50 PM EST) -- A consortium headed by Canadian private equity real estate investor KingSett Capital on Wednesday mounted a CA$4.4 billion (US$4.43 billion) bid for Primaris Retail Real Estate Investment Trust, a Toronto-based REIT that focuses on enclosed shopping centers.

As part of the cash offer, RioCan Real Estate Investment Trust — Canada's largest REIT, worth nearly $14 billion — has agreed to purchase $1.1 billion of Primaris properties from KingSett and consortium partner Ontario Pension Board once the latter investors seal the underlying Primaris deal, according to a...
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