St. Vital Centre changes hands for $160.5M
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Montreal-based real estate investment and development firm Leyad says it has purchased the St. Vital Centre for $160.5 million.
“This acquisition embodies everything we look for in a community shopping centre,” said Henry Zavriyev, president of Leyad, in a news release Thursday night. “St. Vital Centre is dominant in its market, anchored by essential retail, deeply embedded in the daily lives of the community, and positioned for many decades of continued success.
“We are proud to become its long-term steward.”
MIKAELA MACKENZIE / FREE PRESS FILES
St. Vital Centre has been purchased by a Montreal-based real estate investment and development firm for $160.5 million.
The transaction was financed through a syndicated loan provided by six leading credit unions, according to the release.
“This syndication highlights the ability of Canadian credit unions to collaborate on large, institutional-quality transactions while supporting assets that matter to their communities,” said Zavriyev.
According to Leyad, the south Winnipeg shopping centre attracts eight million visitors annually and encompasses approximately one million square feet of gross leasable area.
— Free Press staff
