- What Leyad has acquired two retail properties in Winnipeg and Prince Albert, Sask.
- Why The deals expand the firm’s retail portfolio
- What next Leyad plans to announce additional transactions in the coming months
Leyad has bought two shopping centers for $126m.
The Montreal-based company bought the 550,000 sq ft Cornerstone Prince Albert, in Prince Albert, Sask., for $94m. Most the buildings were constructed in the last 10 years.
The property is anchored by Michaels, Rona and Shoppers Drug Mart, with other tenants including Best Buy, Mark’s and Pet Valu. The property includes several land parcels that can be developed.
The firm also bought the 160,000 sq ft Garden City Square in Winnipeg for $32m. Tenants include Dollarama, JYSK, Marshalls and Staples.
During Q2, Leyad closed the purchases of a multitenant distribution center in Quebec and several midrise apartment buildings in Alberta. Those deals totaled $60m.
CEO Henry Zavriyev said the firm plans to announce several “significant” transactions in the coming months.
