Leyad announced Monday the acquisition of a 387,000-square-foot portfolio of single-tenant grocery properties leased to Loblaw Companies Limited.
The portfolio spans British Columbia, Manitoba, New Brunswick, Nova Scotia, Saskatchewan, and the Yukon Territory, marking Leyad’s entry into British Columbia and Yukon. Following the transaction, Leyad’s footprint now extends across eight provinces – Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec, and Saskatchewan – in addition to the Yukon, it said in a news release.
Leyad has spent the past decade building a portfolio focused on durable commercial real estate tied to everyday consumer needs, with grocery-anchored properties increasingly forming the backbone of that strategy. With the addition of these assets, Loblaw Companies Limited becomes Leyad’s largest tenant by revenue, reflecting the company’s continued focus on necessity-based retail and tenants that provide essential services to Canadians, said the company.
“With this acquisition, we are doubling down on the most resilient segment of retail real estate,” said Henry Zavriyev, CEO of Leyad. “These are established, high-performing locations that continue to play an essential role in the daily lives of the communities they serve.”
The transaction reflects sustained institutional demand for grocery-anchored real estate supported by strong credit tenants. Loblaw Companies Limited remains one of Canada’s leading food and pharmacy retailers and has recently announced a $2.4 billion investment program to expand and modernize its store network nationwide, added Leyad.
Recently, Montreal-based real estate investment and development firm Leyad announced it expanded its growing portfolio of Canadian shopping centres with the acquisition of Lloyd Mall, a dominant regional retail property serving communities across eastern Alberta and western Saskatchewan.
The Leyad Lloyd Mall acquisition forms part of a broader strategy that has seen the company acquire several major retail properties across Canada since 2024.
Among the most significant transactions was the February 2026 purchase of St. Vital Centre in Winnipeg for $160.5 million. The nearly one-million-square-foot shopping centre ranks among the most prominent malls in Manitoba and represents a major addition to Leyad’s portfolio.
In 2025, the company also acquired St. Albert Centre in St. Albert and Londonderry Mall in Edmonton.
Another major acquisition occurred in Ontario with the purchase of Pen Centre in St. Catharines, a property exceeding one million square feet that has significant long-term redevelopment potential.
The company has also assembled a retail portfolio in Prince Albert through the acquisition of Cornerstone Shopping Centre and South Hill Mall.
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