KingSett Capital, one of Canada’s most prominent private equity real estate investment firms, has announced that its KingSett Growth LP8 Fund has acquired a 50 per cent co-ownership interest in CF Masonville Place, a 650,000-square-foot regional shopping centre in London, Ontario.
The transaction is part of KingSett’s ongoing strategy of targeting premium retail and mixed-use properties across the country. For CF Masonville Place, it brings another major institutional owner alongside Cadillac Fairview, which developed and continues to manage the property.
The acquisition is part of the Growth Fund’s mandate to deliver sustainable income while also creating long-term value opportunities. “This investment reflects our focus on properties that are both financially strong and strategically positioned in their markets,” said KingSett Capital in the announcement.
KingSett Growth LP8: A $2 Billion Platform
The co-ownership stake in CF Masonville Place comes less than three years after the launch of KingSett’s eighth Growth LP fund, known as LP8. Introduced in August 2022, LP8 secured $2 billion in equity commitments, marking one of the largest fundraising rounds in KingSett’s history.
The Growth LP funds are designed as closed-end vehicles that focus on acquiring, developing, repositioning, and actively managing Canadian real estate assets. KingSett has built a reputation for delivering risk-weighted returns through these strategies, attracting both institutional investors and ultra-high-net-worth individuals.
Across its various Growth funds, KingSett has raised more than $12 billion in equity since the company’s founding in 2002. Its assets under management have grown to exceed $18 billion, highlighting its role as a leading player in Canadian real estate private equity.
KingSett’s Broader Retail Strategy
The acquisition at CF Masonville Place strengthens KingSett’s existing retail portfolio, which includes several notable shopping centres across Canada. The firm’s approach has often involved acquiring assets with repositioning potential, undertaking significant upgrades, and in some cases divesting mature properties after enhancing their value.
KingSett Capital acquired Ivanhoe Cambridge’s 50% stake in Bayshore Shopping Centre in 2022, becoming the sole owner at that time. As of 2025, KingSett retains a 75% interest while TD Asset Management holds the remaining 25%. Bayshore is one of Ottawa’s top shopping malls and has benefited from major reinvestment and redevelopment initiatives, including a $200-million expansion and ongoing densification plans adjacent to the property.
Other assets in the past have included Burlington Centre in Ontario and Midtown in Saskatoon, both of which feature strong regional retail draws. KingSett also owned Westmount Shopping Centre in London, which was sold in 2025 to Farhi Holdings Corp. for approximately $40 million, part of its selective capital recycling strategy.
In addition, KingSett has pursued mixed-use acquisitions with retail components, such as the 2025 purchase of Vancouver’s Pender Place office towers, which are connected to CF Pacific Centre, the largest shopping centre in British Columbia.
Cadillac Fairview’s Role at CF Masonville Place
While KingSett acquires its new stake, Cadillac Fairview remains a key player as co-owner and operator of CF Masonville Place. Cadillac Fairview, wholly owned by the Ontario Teachers’ Pension Plan, is among the most influential landlords in Canadian retail. Its portfolio includes the country’s highest-performing malls, such as CF Toronto Eaton Centre, CF Pacific Centre in Vancouver, and CF Chinook Centre in Calgary.
Cadillac Fairview has a history of reinvesting heavily in its assets. At CF Masonville Place, the most significant upgrade came in 2016 with a $77 million redevelopment that transformed the former Sears space, added 13 new retailers, and modernized the mall’s interior. The renovation helped reinforce Masonville’s position as a dominant regional centre.
In recent years, CF Masonville Place has continued to evolve with new tenant additions, including Athleta, Specsavers, and Hillberg & Berk, along with expanded spaces for established brands like American Eagle and Bath & Body Works. The mall’s mix of fashion, lifestyle, dining, and entertainment offerings positions it as a hub for London and the surrounding region.
CF Masonville Place: A Regional Powerhouse
Located at 1680 Richmond Street North in London, Ontario, CF Masonville Place is widely recognized as the region’s premier shopping destination. With more than 150 stores, the centre is anchored by key retailers including Apple, Zara, H&M, Nike, and Sport Chek.
Beyond shopping, the mall incorporates significant entertainment amenities such as a Cineplex SilverCity/IMAX theatre and The Rec Room, a large-scale dining and gaming venue. Its dining mix ranges from a large food court to sit-down restaurants such as The Keg.
The trade area surrounding Masonville includes more than 700,000 people, stretching well beyond London into neighbouring counties. The proximity to Western University further boosts foot traffic and reinforces the mall’s reputation as a draw for both students and local families.
