Canadian Pension Fund Inks $477M Sale Of Mall Portfolio

Law360, New York (November 22, 2013, 1:51 PM EST) -- The Canadian Pension Plan Investment Board will sell off three shopping centers for 500 million Canadian dollars ($477 million) to Healthcare of Ontario Pension Plan and Morguard Real Estate Investment Trust, the funds announced Thursday.

The transaction will land HOOPP full ownership of the Intercity Shopping Centre in Thunder Bay, Ontario, and the New Sudbury Shopping Centre in Sudbury, Ontario, while Morguard REIT will pick up 100 percent ownership of the Pine Centre Mall in Prince George, British Columbia, according to a statement.

Michael Catford, HOOPP's...
To view the full article, register now.