Choice Properties REIT buys 16 Loblaws properties for $211.9 million

BRAMPTON, Ont. – Choice Properties Real Estate Investment Trust (TSX: CHP.UN) says it is acquiring 16 properties from Loblaw Companies for approximately $211.9 million.

The REIT, which was spun off as a separate business last year by Loblaw (TSX:L), said Wednesday the purchase includes 15 retail properties and one warehouse located across the country.

With this acquisition, Choice Properties’ portfolio of properties consists of 472 properties primarily focused on supermarket-anchored shopping centres and stand-alone supermarkets. It principal tenant and largest unitholder is Loblaw, Canada’s largest food retailer.