trending Market Intelligence /marketintelligence/en/news-insights/trending/o5r0g5pgwug4dvf_h4k56g2 content esgSubNav
In This List

Cominar REIT closes C$1.14B sale of Canadian property portfolio

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model

Video

How to use ESG Heat Maps in Credit Risk Analysis


Cominar REIT closes C$1.14B sale of Canadian property portfolio

Cominar Real Estate Investment Trust completed the sale of its noncore Canadian property portfolio to Slate Acquisitions Inc. and its designees for C$1.14 billion in gross proceeds.

The portfolio consists of 37 industrial and mixed-use assets, 35 office assets and 23 retail assets totaling 6,161,000 square feet across greater Toronto, the Atlantic provinces and Western Canada.

Cominar CEO and President Sylvain Cossette said in a release that the transaction allows the diversified real estate investment trust to focus on its core markets portfolio in Montreal, Québec City and Ottawa.

The company plans to use the net proceeds to repay debt and for general trust purposes.

Under the deal terms, Slate will assume roughly C$106.2 million of mortgage debt.