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An announcement from Primaris Real Estate Investment Trust ( ($TSE:PMZ.UN) ) is now available.
Primaris REIT has successfully closed a $585 million acquisition, securing 50% of Southgate Centre in Edmonton and full ownership of Oshawa Centre. This strategic move aligns with Primaris’ growth strategy targeting market-leading shopping centres, enhancing its presence in expanding Canadian regions.
More about Primaris Real Estate Investment Trust
Primaris Real Estate Investment Trust is Canada’s only REIT focused on enclosed shopping centres, owning stakes in leading properties across growing Canadian markets. With a portfolio valued at approximately $4.6 billion and totaling 15 million square feet, Primaris benefits from economies of scale through a fully integrated management platform, positioning it well to capitalize on opportunities within the evolving Canadian retail property landscape.
YTD Price Performance: -3.03%
Average Trading Volume: 214,851
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$1.49B
For a thorough assessment of PMZ.UN stock, go to TipRanks’ Stock Analysis page.