Primaris REIT agrees to buy Upper Canada Mall in Ontario for $411 million

Bitget2026/09/30 20:56

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Primaris Real Estate Investment Trust agreed to buy Upper Canada Mall in Newmarket, Ontario for USD 411 million in cash.
Deal targets a 990,114-square-foot enclosed mall on 76 acres in the Greater Toronto Area.
Closing expected by Oct. 31, 2026, subject to customary conditions, including regulatory approvals.
Primaris expects the acquisition to be modestly accretive to annualized fully diluted FFO per unit.
2026 guidance updated: cash NOI seen at USD 397 million-USD 402 million; FFO per unit seen at USD 1.83-USD 1.88.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Primaris Real Estate Investment Trust published the original content used to generate this news brief via Business Wire (Ref. ID: 202609301656BIZWIRE_USPR_____20260930_BW059979) on September 30, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Primaris REIT agrees to buy Upper Canada Mall in Ontario for $411 million

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