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IN-DEPTH: Ivanhoé Cambridge, Sears Canada sell interests in Canadian shopping center

by Andrea Waitrovich

Ivanhoé Cambridge and Sears Canada have agreed to sell their interests in Kildonan Place, a shopping center located in Winnipeg, Manitoba.    THE DEAL Both Ivanhoé Cambridge’s 80 percent ownership interest and Sears 20 percent ownership interest in the property are to be sold for total pre-tax consideration of $138.5 million, with $110.8 million going to Ivanhoé Cambridge and $27.7 million to Sears Canada.  The purchaser is H&R Real Estate Investment Trust, which intends to assign an undivided 50 percent interest to Montez Income Properties Corp. prior to closing. Primaris Retail REI

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