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Landlord group acquires portion of Target Canada real estate portfolio
On March 6, 2015, a landlord group led by Ivanhoé Cambridge Inc. and Oxford Properties Group completed a transaction involving the termination of leases at 11 properties that had previously been leased by Target Canada Co. (Target), owner and operator of shopping centers, and a unit of Target Corp., for $138 million. Ivanhoé Cambridge Inc., a unit of Caisse de dépôt et placement du Québec, and Oxford Properties Group were the landlords/managers of these 11 locations. In January 2015, Target announced that it was seeking buyers for its real estate portfolio. By order dated March 5, 2015, the Ontario CCAA Court approved the transaction whereby the leases in respect of these 11 locations were surrendered to Ivanhoé Cambridge and Oxford Properties Group for their termination, resulting in these 11 locations being removed from the real property portfolio sales process.
Read the full article here.
On March 6, 2015, a landlord group led by Ivanhoé Cambridge Inc. and Oxford Properties Group completed a transaction involving the termination of leases at 11 properties that had previously been leased by Target Canada Co. (Target), owner and operator of shopping centers, and a unit of Target Corp., for $138 million. Ivanhoé Cambridge Inc., a unit of Caisse de dépôt et placement du Québec, and Oxford Properties Group were the landlords/managers of these 11 locations. In January 2015, Target announced that it was seeking buyers for its real estate portfolio. By order dated March 5, 2015, the Ontario CCAA Court approved the transaction whereby the leases in respect of these 11 locations were surrendered to Ivanhoé Cambridge and Oxford Properties Group for their termination, resulting in these 11 locations being removed from the real property portfolio sales process.
Read the full article here.