St. Vital Centre in Winnipeg. (CNW GROUP / LEYAD)
WINNIPEG — St. Vital Centre has been acquired by a Canadian retail real estate firm for $160.5 million.
Leyad announced late Thursday that it has purchased the south Winnipeg shopping centre.
According to the firm, the shopping centre attracts roughly eight million visitors each year and includes about one million square feet of gross leasable space with 160 retailers. Following the acquisition, the mall is expected to welcome a new Uniqlo store, adding to its tenant mix.
“This acquisition embodies everything we look for in a community shopping centre,” said Henry Zavriyev, president of Leyad, in a release.
“St. Vital Centre is dominant in its market, anchored by essential retail, deeply embedded in the daily lives of the community, and positioned for many decades of continued success. We are proud to become its long-term steward.”
The transaction was financed through a syndicated loan from six Canadian credit unions.
Previously, the mall was owned by the Ontario Pension Board and managed by BentallGreenOak.
An aerial view of St. Vital Centre in Winnipeg. (CNW GROUP / LEYAD)
