The remaining shares of the Pine Centre Mall has just been purchased by the Canada Pension Plan Investment Board.
The pension plan had owned 80 per cent of the mall and when the transaction is complete it will be 100 per cent owned by the fund.
This deal is one of eight separate transactions totalling $335.5 million for stakes in eight shopping centres across the country.
Other deals include Hillside Centre in Victoria, White Oak malls in London, ON, Eastgate Square in Stoney Creek, ON, Sudbury Centre in ON, and the Intercity Shopping Centre in Thunder Bay, ON., Les Galeries de la Capitale in Quebec City and Carrefour de L'Estrie in Sherbrooke, Quebec.
Canada Pension Plan Investment Board has a real estate portfolio valued at $7.9 billion in late June, $3.6 billion of which comes from Canadian-based assets.
The CPPIB had total assets of $129.7 billion at the end of its last fiscal year, a 22.1 per cent improvement over the previous year.
