Victoria Property Among New Bentall Mall Portfolio
The Prime Canadian Property Fund of Bentall Kennedy Canada acquired 100% freehold interest in three enclosed regional shopping centre properties—including Hillside Centre, a 591k SF mall in Victoria. Financial terms weren't disclosed. The seller is the Canada Pension Plan Investment Board. Bentall Kennedy chief investment officer Paul Zemla says the fund's retail strategy is focusing on quality shopping centres that offer an "experiential draw" that attract repeat visits. (We'd call it the kind of place where you might propose to someone or break up with that same person.) The portfolio (which also includes White Oaks Mall, a 689k SF mall in London, and Eastgate Square, a 505k SF centre in Hamilton) are anchored by some influential retailers—Hudson's Bay, Walmart, Target, and Loblaw.