by creitadmin on September 23, 2008
Canadian Tire Corp. has sold 11 stores to two Canadian real estate trusts for $164.6 million in deals announced Monday.
Canadian Real Estate Investment Trust, commonly known as CanReit, will buy eight properties for $137 million. Charter Real Estate Investment Trust will purchase three other stores for $27.3 million.
Canadian Tire will continue to run the stores but will now lease these facilities and pay rent to the two companies.
See the full story on CBC.com at: http://www.cbc.ca/money/story/2008/09/08/canadiantire.html
by creitadmin on September 23, 2008
Retrocom Mid-Market Real Estate Investment Trust announced the closing, on July 9, 2008, the $55 million purchase of four properties in the Greater Toronto Area from a group of vendors lead by Mr. Mitchell Godlhar, owner of SmartCentres Inc. The purchase price represents a 9% capitalization rate. The approximate 522,915 of gross leasable area currently has an occupancy rate of 98% with a number of high quality tenants. The properties will give Retrocom a presence in the Greater Toronto area and creates an ongoing relationship with the vendors, with both management opportunites and future warrants to purchase. For more information read the Retrocom press release:
