Primaris REIT Announces $416 Million Acquisition of Lime Ridge Mall and Concurrent Secondary Offering of REIT Units

Primaris REIT to acquire Lime Ridge Mall for $416M

Hamilton’s Lime Ridge Mall sold to new owner

The Hamilton Mountain mall recently lost its only remaining anchor tenant, Hudson’s Bay, earlier this month.

Primaris REIT Announces $416 Million Acquisition of Lime Ridge Mall and Concurrent Secondary Offering of REIT Units

Newswire.ca Press Release.

Hamilton’s Lime Ridge Mall sold to Primaris REIT

Hamilton’s Lime Ridge Mall has been sold. Primaris Real Estate Investment Trust (REIT) has agreed to acquire the Lime Ridge Mall in Hamilton, Ontario, through a $416-million combined cash and equity deal with the vendor, Cadillac Fairview. The 793,00-square-foot enclosed shopping centre will enter the REIT’s portfolio as its fourth largest producer, based on all-store sales volume. The new owners with a portfolio of 27 shopping malls across Cana…

New ownership for Hamilton's Lime Ridge Mall in $416M sale

Primaris Real Estate Investment Trust has agreed to acquire a 100 per cent interest in Hamilton's Lime Ridge Mall from an entity managed by Cadillac Fairview for a $416 million purchase.

Primaris REIT Buys Hamilton's Lime Ridge Mall for $416 Million

Primaris Real Estate Investment Trust has purchased Hamilton’s Lime Ridge Mall from Cadillac Fairview for $416 million in one of the largest retail property transactions in the region this year. The deal was announced in a press release minutes before markets closed on Tuesday afternoon (June 16). The transaction is structured as $235.0 million in cash, $81.0 million in REIT units at $21.40 per unit, and $100.0 million in 6.00 percent exchangeab…