Primaris REIT has sold Northland Village and Northland Professional Center for C$154 million ($112 million) a Canadian institutional investor. Northland Village, a recently redeveloped, high-quality, open-air center, is anchored by Walmart, Winners, Best Buy, GoodLife, Dollarama and Spinelli Italian Center Shop, a specialty grocery store and restaurant. Situated in an affluent trade area in northwest Calgary, Northland attracted strong interest from a broad pool of buyers.
“Primaris is very pleased to close out the year with the strategic disposition of Northland, continuing to demonstrate our track record of disciplined capital allocation and capital recycling,” said Alex Avery, CEO. “Executing $400 million of non-core asset sales in 2025 underscores Primaris’ commitment to maintain a best-in-class balance sheet while continuing to leverage the competitive advantage our management platform provides, for acquiring, owning, and managing market leading Canadian malls.
