Top Left Header
Header
Go Home
News
Arrow

Ivanhoe Cambridge acquires 100% ownership of four shopping centres

Media Release
Ivanhoe Cambridge

Ivanhoe Cambridge acquires 100% ownership of four shopping centres
Ivanhoé Cambridge announces today it has purchased the 50% interest held by its partner, German asset manager Commerz Real, in the partnerships holding four prominent Canadian shopping centres. This transaction makes Ivanhoé Cambridge sole owner of Place Ste Foy in Quebec City and Galeries Rive Nord in Repentigny, Quebec as well as Mayfair Shopping Centre in Victoria, British-Columbia, and Mic Mac Mall in Dartmouth, Nova Scotia.
PHOTO CREDIT - IvanhoeCambridge.com

Montreal - August 2, 2012 - Ivanhoé Cambridge announces today it has purchased the 50% interest held by its partner, German asset manager Commerz Real, in the partnerships holding four prominent Canadian shopping centres. This transaction makes Ivanhoé Cambridge sole owner of Place Ste Foy in Quebec City and Galeries Rive Nord in Repentigny, Quebec as well as Mayfair Shopping Centre in Victoria, British-Columbia, and Mic Mac Mall in Dartmouth, Nova Scotia.

“We are very pleased to increase our holdings in these prime retail assets,” said Daniel Fournier, Chairman and Chief Executive Officer of Ivanhoé Cambridge. “Our $508-million investment, including the assumption of $138 million in debt, will further enhance our national retail shopping platform. Today’s announcement fits our strategy to increase our critical mass in select markets.”

Mr. Fournier added: “Our best returns on investment often come from properties in which we have been involved for many years. We know our customers and our retailers and we continually find new ways to serve them better. Place Ste-Foy, Galeries Rive Nord, Mayfair Shopping Centre and Mic Mac Mall are all situated in excellent locations and are key assets in their respective communities.”

Ivanhoé Cambridge owns 38 shopping centers in six provinces across Canada, of which 16 are in Quebec (11 fully owned properties and at least a 50% interest in the other five), six are in British-Columbia (four fully owned properties and a 50% interest in the other two) and one fully owned property in Nova Scotia.

Place Ste-Foy
Place Ste-Foy, a premier shopping centre in Quebec City, underwent a major $50-million redevelopment and expansion in 2010. Ideally located on Laurier Boulevard, it is recognized as an upscale fashion destination.

Galeries Rive Nord
As the top shopping destination in the Lanaudière region, Galeries Rive Nord welcomes nearly 7.5 million visitors a year. The centre has more than 130 stores, including leading industry names and major retailers.

Mayfair Shopping Centre
Mayfair Shopping Centre, with more than 120 shops, is Vancouver Island’s market leader and is recognized for its fashion flair. It offers a dynamic blend of national and regional retailers in an exciting environment for shoppers.

Mic Mac Mall
Mic Mac Mall serves the two-thirds of Nova Scotians living within a radius of 140 km. The centre provides an attractive and varied range of retailers specializing in fashion and lifestyle, as well as renowned department stores. It attracts more than six million visitors a year.


Follow OurHometown.ca on... Follow Us on Facebook Follow Us on Twitter Follow us on RSS Follow Us with E-Mail Updates!
Send Us Your Thoughts


Title - Story Count
7,961 Stories & Growing Daily...

To date OurHometown.ca has posted a total of 7,961 stories! News, sports, hockey, lifestyle, opinion and more!

Be sure to check out our Contributors and Columnists archives!


Title - More OH Headlines
Click on Photo or Story Title for more info
Town of Lakeshore announces Notre Dame Street Reconstruction
NDP calls MacLeod’s minister of tears comment demeaning, callous
WE-STEAM Kids Summit celebrates youth, technology
Tremblay Beach CA closed until further notice
Ontario Government to allow for reasonable wage increases while protecting vital services
OurHometown.ca News Database Last Updated:
Aug. 8, 2019 @ 8:22 AM EDT



Footer
Free Sitemap Generator