Primaris is raising $200 million in new equity while negotiating more than $1 billion in potential mall acquisitions. The financing adds capacity as the REIT continues buying major Canadian shopping centres from institutional owners and expanding its national portfolio.
Primaris REIT has acquired CF Lime Ridge Mall in Hamilton for $416 million from Cadillac Fairview. The deal boosts the REIT's national footprint and unlocks leasing opportunities.