Retail Landlord Agrees To Sell $66 Million in Assets Involving Two Properties in Toronto
First Capital REIT, a retail real estate investment trust with $9.5 billion in assets, agreed to sell $66 million of its properties and plans to target more dispositions over the remainder of this year.
The retail landlord controls 22.2 million square feet of gross leasable area. It said it has firm agreements to sell an auto showroom at 1629-1633 The Queensway and the shopping centre at 895 Lawrence Ave. East, at the southwest corner of Lawrence Ave. East and The Donway West in the Central Don Mills neighbourhood of North York Toronto, where First Capital was pursuing a large redevelopment.
Click here to continue reading.