News & Events

Strathallen announces closing the acquisition of a 44 property portfolio from OneREIT

Wednesday, 04 October 2017

TORONTO, October 4, 2017 – Strathallen Capital Corp. (“Strathallen”) announced today that on behalf of its Investor Clients, it has closed on the previously announced transaction to acquire a retail portfolio of 44 properties from a subsidiary of OneREIT. The purchase price of the transaction is $702.9 million and equity funding will be provided by Strathallen Retail Property Fund IV and an institutional investor partner.
The portfolio is comprised of 44 properties, 4.6 million square feet of retail space representing diversity of geography, scale and tenants. The primary occupants of the portfolio include; grocery, drug stores and services.   
A listing of the properties comprising the portfolio: 
Ontario (18 Properties)
Bowmanville Mall, Bowmanville
Bowmanville Square, Bowmanville
Burlington Shopping Centre, Burlington
Kapuskasing Shopping Centre, Kapuskasing
Kenora Shopping Centre, Kenora
681-691 Gardiners Road, Kingston
Midland Shopping Centre, Midland
1224 Dundas St. E., Mississauga
Napanee Shopping Centre, Napanee
Orangeville Mall, Orangeville
Peterborough Crossing, Peterborough
Renfrew Shopping Centre, Renfrew
Norfolk Mall, Tillsonburg
Tillsonburg Town Centre, Tillsonburg
McIntyre Centre, Thunder Bay
Red River Plaza, Thunder Bay
Scarborough Shopping Centre, Toronto
750-760 Birchmount Rd, Toronto
Quebec (7 Properties)
Carrefour des Forges, Drummondville
Drummondville Shopping Centre, Drummondville
Magog Shopping Centre, Magog
IGA Tremblant, Mont-Tremblant
Carrefour Don Quichotte, Greater Montreal Area
Galeries Don Quichotte, Greater Montreal Area
Plaza Don Quichotte, Greater Montreal Area
Saskatchewan (5 Properties)
Kindersley Mall, Kindersley
Town ‘N’ Country Mall, Moose Jaw
South Hill Mall, Prince Albert
Southland Mall, Regina
Wheatland Mall, Swift Current
Alberta (3 Properties)
Cochrane Centre, Cochrane
Carry Plaza, Medicine Hat
Eastview Centre, Red Deer
New Brunswick (3 Properties)
Lancaster Mall, Saint John
600 Fairville Blvd, Saint John
Harding Street Property, Saint John
Nova Scotia (3 Properties)
Woodlawn Plaza, Dartmouth
New Minas Shopping Centre, New Minas
Truro Shopping Centre, Truro
British Columbia (2 Properties)
South Fraser Gate, Abbotsford
Mission Shopping Centre, Mission
Manitoba (1 Property)
City Centre Mall, Thompson
Newfoundland (1 Property)
Gander Shopping Centre, Gander
Yukon (1 Property)
Qwanlin Mall, Whitehorse
Brian Spence, Chairman of Strathallen notes: “We are excited to have the opportunity to create value for our Investor Clients. We thank everyone who helped and supported us completing this transaction”.
Laetitia Pacaud, President, stated: “Since the transaction announced in August, Strathallen has continued to refine our value add strategies for the portfolio. Our national platform is ready and excited to execute on behalf of our investors”. 
The Strathallen acquisition is part of a larger transaction announced by OneREIT on August 4, 2017, whereby OneREIT agreed to sell all of its assets and liabilities to Strathallen and Smart Real Estate Investment Trust (“SmartREIT”) and redeem all of its publicly traded units (the “Transaction”).
About Strathallen
Strathallen is a fully integrated Canadian real estate management company. The Transaction has increased assets under management to approximately $1.7 billion and 8.9 million square feet. Founded in 2003 by seasoned real estate executives, Strathallen provides asset management, property management and strategic advisory services to institutional and high net worth investors. The Company currently manages and operates four private closed-end funds, with the mandate to strategically acquire and dispose of quality retail investments and deliver industry leading risk- adjusted returns. Strathallen provides investors with confidence through co-investing and incentive fee arrangements. The Company is supported by; in-house asset management, property management, financial, leasing and development teams. Strathallen specializes in creating value in opportunistic property investments on behalf of institutional clients.
For further information, please contact: Brian Spence, Chairman, Tel: (416) 642-0634, E-mail: