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Bayfield and RioCan Bought Edmonton Mall for $94.6 million

Posted on January 3, 2011 by Alison Murray

Is Commercial Real Estate Finally turning around?...West TORONTO - Bayfield Realty Advisors Inc. and joint venture partner RioCan Real Estate Investment Trust (TSX:REI.UN) closed Friday the acquisition of an Edmonton mall and surrounding property for $94.6 million.

The property includes Mill Woods Town Centre. The Edmonton shopping centre, built in 1989, is anchored by Zellers, Canadian Tire and Safeway stores.

Bayfield will take a 100 per cent stake in the office building, while RioCan will manage and lease the shopping centre.

By: The Canadian Press

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The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.