- What Canadian Net REIT has purchased a Sobeys-branded property in Nova Scotia for $9m
- Why The deal fits company’s business strategy
- What next The transaction takes firm’s portfolio in the province to eight assets
Canadian Net REIT has bought a retail property in Truro, N.S., for $9m.
The Pointe-Claire, Qué.-based company paid cash for a 49,000 sq ft Sobeys-branded grocery store at 935 Prince Street.
Kevin Henley, president and chief executive of Canadian Net REIT, said the deal was a strategic fit for the company’s business model focused on “high-quality, triple net and management-free assets.”
Following the purchase, the company owns eight properties in Nova Scotia.
In July, Canadian Net sold five gas stations in Québec for $12.8m.
