H&R REIT and Montez Acquire Kildonan Place
|Areas||Commercial Real Estate, REITs and Income Securities|
Goodmans represented H&R Real Estate Investment Trust (through its indirectly owned trust, PRR Trust) who along with Montez Core Income Fund IV Limited Partnership completed the purchase of Kildonan Place, a shopping centre in Winnipeg, Manitoba from Ivanhoe Cambridge II Inc. and Sears Canada Inc. The purchase price was $138.5 million and H&R REIT and Montez each acquired a 50 per cent interest. Primaris Management Inc. will manage the property. Sears will continue to operate its department store at Kildonan Place.