An announcement from Primaris Real Estate Investment Trust ( ($TSE:PMZ.UN) ) is now available.
Primaris Real Estate Investment Trust announced significant transactions totaling $724 million, including the acquisition of interests in Southgate Centre and Oshawa Centre for $585 million, aiming to enhance its portfolio of leading shopping centres. These acquisitions align with Primaris’ growth strategy, targeting high-quality assets in large, growing markets and offering income growth opportunities. Concurrently, Primaris agreed to sell Sherwood Park Mall and has completed the sale of Edinburgh Market Place for a total of $139 million in dispositions, reinforcing its strategy of optimizing its asset base to drive value and sales productivity.
More about Primaris Real Estate Investment Trust
Primaris Real Estate Investment Trust operates in the real estate industry, focusing on acquiring, managing, and leasing premier enclosed shopping centers in Canada. The company targets market-leading centers in growing Canadian markets, emphasizing strategic growth and maintaining strong financial metrics.
YTD Price Performance: -5.94%
Average Trading Volume: 209,826
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$1.46B
Learn more about PMZ.UN stock on TipRanks’ Stock Analysis page.