Melcor Developments Sells Portfolio To Its REIT For $63M

Law360, Minneapolis (December 6, 2017, 3:28 PM EST) -- Melcor Developments Ltd. is selling certain phases of five commercial properties, four of which are retail assets, to its real estate investment trust for CA$80.88 million ($63.2 million), according to an announcement from the Canadian developer on Wednesday.

The firm is selling the properties, which have a combined 172,629 square feet, to Melcor Real Estate Investment Trust. The properties are all located in Alberta, and the portfolio includes four retail assets and a single industrial property.

Melcor Developments said on Wednesday the deal was the fourth...
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