{"id":16780,"date":"2015-08-25T05:00:00","date_gmt":"2015-08-25T09:00:00","guid":{"rendered":"https:\/\/www.choicereit.ca\/news-release\/choice-properties-real-estate-investment-trust-fait-le-point-sur-les-trois-immeubles-de-commerce-de-detail-recemment-acquis\/"},"modified":"2015-08-25T05:00:00","modified_gmt":"2015-08-25T09:00:00","slug":"choice-properties-real-estate-investment-trust-fait-le-point-sur-les-trois-immeubles-de-commerce-de-detail-recemment-acquis","status":"publish","type":"news-release","link":"https:\/\/www.choicereit.ca\/fr\/news-release\/choice-properties-real-estate-investment-trust-fait-le-point-sur-les-trois-immeubles-de-commerce-de-detail-recemment-acquis\/","title":{"rendered":"Choice Properties Real Estate Investment Trust fait le point sur les trois immeubles de commerce de d\u00e9tail r\u00e9cemment acquis"},"content":{"rendered":"<p>\/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN <span class=\"xn-location\">THE UNITED STATES<\/span>.\/<\/p>\n<p><span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Aug. 25, 2015<\/span> \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) provided today an update on the recent acquisition of three retail properties. Leveraging its alliance with its principal tenant, Choice Properties acquired two standalone pharmacies from Shoppers Drug Mart Corporation, a subsidiary of Loblaw Companies Limited.  The third property was acquired from a third party vendor, and is located adjacent to an existing Choice Properties owned standalone food store site. These three acquisitions increased the total portfolio size to 515 properties, or 41.4 million square feet. <\/p>\n<p><b>Acquisition of Shopper Drug Mart Pharmacies<\/b><\/p>\n<p>On <span class=\"xn-chron\">August 20, 2015<\/span>, Choice Properties completed the acquisition of two Shoppers Drug Mart standalone pharmacies located at 1428 Highway West, <span class=\"xn-location\">Courtice<\/span> and 9186 Highway 93 South, Midland in Ontario.  The purchase price for the two properties was approximately <span class=\"xn-money\">$18.2 million<\/span>, excluding transaction costs. The acquisition was immediately accretive with a total stabilized Net Operating Income (\u00ab\u00a0NOI\u00a0\u00bb) of approximately <span class=\"xn-money\">$1.1 million<\/span>, representing an implied capitalization rate of 6.16%. The acquisition was funded through the issuance of 280,155 Class B LP Units of Choice Properties Limited Partnership, which have a value of <span class=\"xn-money\">$3.2 million<\/span>, and the balance in cash.<\/p>\n<p>1428 Highway 2 West in <span class=\"xn-location\">Courtice<\/span> is a 30,309 square foot two-storey retail building and 9185 Highway 93 South in Midland is an 18,329 square foot single-storey retail building.  Both properties are 100% occupied by Shoppers Drug Mart, each with a 20-year initial lease term and five five-year renewal options.<\/p>\n<p><b>Acquisition of 3020 Elmcreek Road, <span class=\"xn-location\">Mississauga, ON<\/span><\/b><\/p>\n<p>On <span class=\"xn-chron\">August 11, 2015<\/span>, Choice Properties acquired a 12,023 square foot single-storey retail building adjacent to an existing Choice Properties owned site located at 3045 Mavis Road, <span class=\"xn-location\">Mississauga<\/span>. The property is currently 100% occupied by a Liquor Control Board of <span class=\"xn-location\">Ontario<\/span> (LCBO) store.  The total purchase price for 3020 Elmcreek Road, <span class=\"xn-location\">Mississauga<\/span> was approximately <span class=\"xn-money\">$5.6 million<\/span>, excluding transaction costs.  The acquisition was immediately accretive with a stabilized NOI of approximately <span class=\"xn-money\">$337 thousand<\/span>, representing an implied capitalization rate of 6.07%. The acquisition was funded through a combination of cash and an assumption of a <span class=\"xn-money\">$2.1 million<\/span> mortgage.  Upon acquisition the property was combined with the adjacent Choice Properties owned site and together re-categorized as a multi-tenant property. The total site area for both 3020 Elmcreek Road, Mississauga and 3045 Mavis Road, <span class=\"xn-location\">Mississauga<\/span> comprises 9.05 acres with a combined GLA of 92,892 square feet.<\/p>\n<p><b>About Choice Properties Real Estate Investment Trust<\/b><\/p>\n<p>Choice Properties Real Estate Investment Trust is an owner, manager and developer of well-located retail and commercial real estate across <span class=\"xn-location\">Canada<\/span>. Choice Properties\u2019 portfolio spans approximately 41.4 million square feet of gross leasable area and consists of 515 properties primarily focused on supermarket-anchored shopping centers and stand-alone supermarkets. Choice Properties\u2019 strategy is to create value by enhancing and optimizing its portfolio through development, accretive acquisitions and active property management. Choice Properties\u2019 principal tenant and largest Unitholder is Loblaw Companies Limited (\u00ab\u00a0Loblaw\u00a0\u00bb), <span class=\"xn-location\">Canada\u2019s<\/span> largest retailer. Choice Properties\u2019 strong alliance with Loblaw positions it well for future growth. For more information, visit Choice Properties\u2019 website at <a href=\"http:\/\/www.choicereit.ca\" rel=\"nofollow\">www.choicereit.ca<\/a> and Choice Properties\u2019 issuer profile at <a href=\"http:\/\/www.sedar.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p>SOURCE  Choice Properties Real Estate Investment Trust<\/p>\n<p><img decoding=\"async\" alt=\"Rt\" src=\"http:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C1708&amp;Transmission_Id=201508251700CANADANWCANADAPR_C1708&amp;DateId=20150825\" style=\"border:0px; width:1px; height:1px;\"><\/p>\n","protected":false},"template":"","class_list":["post-16780","news-release","type-news-release","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Choice Properties Real Estate Investment Trust fait le point sur les trois immeubles de commerce de d\u00e9tail r\u00e9cemment acquis - Propri\u00e9t\u00e9s DeChoix<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.choicereit.ca\/fr\/news-release\/choice-properties-real-estate-investment-trust-fait-le-point-sur-les-trois-immeubles-de-commerce-de-detail-recemment-acquis\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choice Properties Real Estate Investment Trust fait le point sur les trois immeubles de commerce de d\u00e9tail r\u00e9cemment acquis\" \/>\n<meta property=\"og:description\" content=\"\/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\/ TORONTO, Aug. 25, 2015 \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) provided today an update on the recent acquisition of three retail properties. Leveraging its alliance with its principal tenant, Choice Properties acquired [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.choicereit.ca\/fr\/news-release\/choice-properties-real-estate-investment-trust-fait-le-point-sur-les-trois-immeubles-de-commerce-de-detail-recemment-acquis\/\" \/>\n<meta property=\"og:site_name\" content=\"Propri\u00e9t\u00e9s DeChoix\" \/>\n<meta property=\"og:image\" content=\"http:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C1708&amp;Transmission_Id=201508251700CANADANWCANADAPR_C1708&amp;DateId=20150825\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.choicereit.ca\\\/fr\\\/news-release\\\/choice-properties-real-estate-investment-trust-fait-le-point-sur-les-trois-immeubles-de-commerce-de-detail-recemment-acquis\\\/\",\"url\":\"https:\\\/\\\/www.choicereit.ca\\\/fr\\\/news-release\\\/choice-properties-real-estate-investment-trust-fait-le-point-sur-les-trois-immeubles-de-commerce-de-detail-recemment-acquis\\\/\",\"name\":\"Choice Properties Real Estate Investment Trust fait le point sur les trois immeubles de commerce de d\u00e9tail r\u00e9cemment acquis - 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