Monday, January 3, 2011
Bayfield and RioCan Bought Edmonton Mall for $94.6 million
Is Commercial Real Estate Finally turning around?...West TORONTO - Bayfield Realty Advisors Inc. and joint venture partner RioCan Real Estate Investment Trust (TSX:REI.UN) closed Friday the acquisition of an Edmonton mall and surrounding property for $94.6 million.
The property includes Mill Woods Town Centre. The Edmonton shopping centre, built in 1989, is anchored by Zellers, Canadian Tire and Safeway stores.
Bayfield will take a 100 per cent stake in the office building, while RioCan will manage and lease the shopping centre.
By: The Canadian Press
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