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CT REIT buys 5 assets from RioCan REIT

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CT REIT buys 5 assets from RioCan REIT

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.