A local shopping centre has changed hands.
SaanichB次元官网网址檚 Tillicum Centre is now the property of Crestpoint Real Estate Investments of Toronto and Anthem Properties Group of Vancouver, who partnered to purchase the shopping centre for $110 million from RioCan.
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The centre is home to some 40 stores including LoweB次元官网网址檚, Save-On-Foods, London Drugs, Winners and Cineplex.
Randene Neil, a spokesperson for Anthem Properties, said Tillicum Centre is a long term acquisition. B次元官网网址淥ur current plan is to run it as it is and maybe renovate it depending on which tenants come and go,B次元官网网址� she said. B次元官网网址淭he existing tenants will presumably continue to run their businesses in accordance with their lease commitments. There are no current plans for expansion.B次元官网网址�
B次元官网网址淭his is an excellent acquisition for us,B次元官网网址� said Kevin Leon, president of Crestpoint, in a statement. B次元官网网址淕reater Victoria has emerged as one of the most desirable markets in Canada due to its growing population, diversified regional economy and strong fundamentals in the commercial real estate market. This situation is evident in the strong performance of the key tenants at Tillicum.B次元官网网址�
Eric Carlson, AnthemB次元官网网址檚 chief executive officer echoed this point. B次元官网网址淲e have remained invested in the Greater Victoria market for decades and this addition reinforces our real estate strategy,B次元官网网址� he said.
Anthem and Anthem United have invested in, developed or managed more than 240 residential, commercial and retail projects with a total value of $6 billion.
Crestpoint Real Estate Investments manages assets worth approximately $4 billion.
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