Primaris Real Estate Investment Trust (TSE:PMZ.UN) has released an update.
Primaris Real Estate Investment Trust has expanded its portfolio with the strategic acquisition of Les Galeries de la Capitale, a leading regional shopping center in Quebec City, for $325 million. This acquisition aligns with Primaris’ growth strategy, focusing on market-dominant shopping centers and is expected to be modestly accretive to their funds from operations. The deal, which includes cash, REIT Units, and Preferred LP Units, is set to close on October 1, 2024.
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