Winnipeg’s Kildonan Place Shopping Centre is changing ownership.
Ivanhoe Cambridge and Sears Canada announced Wednesday the sale of the Transcona mall to H&R Real Estate Investment Trust for $138.5 million.
The sale is expected to close on September 17.
In a release, Ivanhoe Cambridge said it plans to use the freed-up capital to strengthen their Canadian retail portfolio, including its Mills and Outlet Collection retail development projects across the country.
Sears will continue to operate its department store at Kildonan Place, which it has done so since 1980.