- What Primaris REIT sold the St. Albert Centre
- Why It is part of ongoing dispositions by the organization
- What next The new owner was not divulged
Primaris REIT has announced the $60m sale of the St. Albert Centre, in St. Albert, Alta., as part of its ongoing strategic dispositions.
Primaris disclosed the sale on Tuesday and said the price includes a $10m vendor-take-back loan, which matures in one year at a 6% interest rate.
The company did not divulge who purchased the shopping centre, saying only that it was a private real estate operator. It said the deal closed on March 31.
The mall, at 375 St. Albert Trail, is anchored by a 93,000 sq ft Hudson’s Bay location. The department-store chain is in liquidation proceedings.
Other tenants in the nearly 80-unit shopping centre include Bulk Barn, London Drugs and Winners. It is 14 km from downtown Edmonton.
Primaris also confirmed the closure of its previously announced sale of the Sherwood Park Mall, in Sherwood Park, Alta., for $107m.
