Sale of cityplace finalized today
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Hey there, time traveller!
This article was published 04/05/2009 (6178 days ago), so information in it may no longer be current.
One of downtown Winnipeg’s retail and office hubs officially has a new owner.
Huntingdon Real Estate Investment Trust announced this morning that it has completed the sale of cityplace to the Manitoba Public Insurance Corp. for $81.5 million. The move, which was first announced in February, is expected to reduce the REIT’s debt by 20 per cent to $322 million.
HREIT, which expects to make a $2.7-million profit on the sale, owns 77 income-producing office, industrial, retail and stand-alone parking lot properties across Canada that have total leasable land of 5.4 million square feet.