Calloway Real Estate Investment Trust has closed a deal to purchase two shopping centres in Ottawa, the company announced last week.
Walmart's store in the Ottawa Train Yards. (Photo by Peter Kovessy)
The deal sees Calloway acquiring a 50 per cent share in Laurentian Place and full ownership of a shopping centre in Kanata.
The other 50 per cent of Laurentian Place was purchased by I.G. Investment Management Ltd.
Walmart SuperCentres anchor both properties.
The entire deal, which includes two other properties in Ontario, is valued at $231.5 million, including transaction costs.
The transaction will bring Calloway’s total assets to around $7 billion.
Calloway announced earlier this summer it had purchased two similar shopping centres in the Ottawa area.