Market News
31Oct2006 |
Calloway Pays $1 Billion for Wal-Mart Anchored MallsCalloway Real Estate Investment Fund has agreed to pay $1 billion to buy 16 shopping centre properties from privately owned SmartCentres, run by developer Mitch Goldhar. The deal includes nine existing shopping centres and seven still being developed. Wal-Mart stores anchor most of the properties, and about half of the sites are located in the Toronto area, while the others are in New Brunswick, Quebec and other Ontario locations. After the deal is wrapped up, in December, Calloway will own five of the locations occupied by Wal-Mart supercentres in Canada. Source: Canadian Grocer E-Newsletter, October 31, 2006. 
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