Primaris Retail Reit Purchases Shopping Centre Portfolio

Primaris Retail REIT completed the previously announced acquisition of two clusters of shopping centres from Sherwood Park Mall Limited, Markalta Developments Ltd. and Sleeping Bay Building Corp. for $377 million. One cluster of centres is in Sherwood Park (a suburb of Edmonton) and the other is in Medicine Hat, Alberta.

Primaris, headquartered in Toronto, is a real estate investment trust that specializes in owning and operating Canadian enclosed shopping centres that are dominant in their local trade areas.

Primaris Retail REIT was represented by Devon Jones, Vice President and Secretary of Primaris and McCarthy Tétrault LLP with a team led by Bram Costin, and included Kieth Mullback, Jeffrey Knowles, Elizabeth Rafferty, Carolyn Ruby (real estate) and Donald Houston and Jonathan Bitran (competition).

The Vendors were represented by Murray Tait, Executive Vice President and Corporate Counsel and Fraser Milner Casgrain LLP (now Dentons Canada LLP), with a team led by Jules Mikelberg, and included Sheldon Disenhouse, Rob McKinnon, Allyson Roy, Madelaine Campbell, Scott Sangster and Nicole Morand.