CT Real Estate Investment Trust completed the acquisition of five properties from RioCan Real Estate Investment Trust for C$135 million, excluding transaction costs.
The company also signed a new loan facility with Canadian Tire Corp. Ltd. for up to C$150 million and drew on the one-year facility to partially fund the acquisition.
The acquisition of the remaining two properties in the seven-property deal is expected to complete during the first quarter of 2018.
The acquired properties are in Hamilton, Orillia, and Sudbury, Ontario; Yorkton, Saskatchewan; and Oliver, British Columbia.
The remaining two properties are in Collingwood and St. Catharines, Ontario.