Bentall Kennedy, on behalf of its Prime Canadian Property Fund, has acquired a 100 per cent freehold interest in three dominant regional enclosed shopping centres from Canada Pension Plan Investment Board (CPPIB).
The portfolio includes White Oaks Mall, a 689,000-sq.-ft. mall in London, Ont.; Hillside Centre, a 591,000-sq.-ft. mall in Victoria, B.C.; and Eastgate Square, a 505,000-sq.-ft. centre in Hamilton, Ont.
The Bentall Kennedy Prime Canadian Property Fund holds in excess of $3.5 billion in Canadian real estate assets on behalf of over 120 Canadian and global institutional investors.
RBC Capital Markets Realty Inc. and CBRE Limited provided advisory services to the transaction.