{"id":16902,"date":"2017-12-05T03:45:00","date_gmt":"2017-12-05T08:45:00","guid":{"rendered":"https:\/\/www.choicereit.ca\/news-release\/le-fonds-dinvestissement-immobilier-choice-properties-fait-le-point-sur-les-acquisitions\/"},"modified":"2017-12-05T03:45:00","modified_gmt":"2017-12-05T08:45:00","slug":"le-fonds-dinvestissement-immobilier-choice-properties-fait-le-point-sur-les-acquisitions","status":"publish","type":"news-release","link":"https:\/\/www.choicereit.ca\/fr\/news-release\/le-fonds-dinvestissement-immobilier-choice-properties-fait-le-point-sur-les-acquisitions\/","title":{"rendered":"Le fonds d&#8217;investissement immobilier Choice Properties fait le point sur les acquisitions"},"content":{"rendered":"<p class=\"prntac\"><b>\/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN <span class=\"xn-location\">THE UNITED STATES<\/span>.\/<\/b><\/p>\n<p><span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Dec. 5, 2017<\/span> \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) today completed the acquisition of a portfolio of five properties from certain subsidiaries of Loblaw Companies Limited (collectively, \u00ab\u00a0Loblaw\u00a0\u00bb). Choice Properties also provides an update on the recent acquisition of a multi-tenant property from a third-party vendor.<\/p>\n<p>With the acquisition of these six properties, Choice Properties\u2019 portfolio consists of 546 properties comprising 525 retail properties, 14 industrial properties, one office complex, and six parcels of undeveloped land, totaling approximately 44.1 million square feet of GLA across <span class=\"xn-location\">Canada<\/span>. <\/p>\n<p><b>Portfolio Acquisition from Loblaw<br><\/b>The portfolio includes three Loblaw stand-alone stores, totaling approximately 244,000 square feet of Gross Leasable Area (\u00ab\u00a0GLA\u00a0\u00bb) and two parcels of land on which Choice Properties expects to develop two new Loblaw food stores, totaling approximately 59,000 square feet. In addition, the portfolio offers the opportunity to develop up to 21,000 square feet of incremental retail GLA. The leases with Loblaw for the retail properties have an initial term of 15 years, with rent escalations of approximately 7.7% every five years and include multiple renewal options. <\/p>\n<p>The aggregate purchase price of the portfolio was approximately <span class=\"xn-money\">$61.7 million<\/span>, excluding acquisition costs. <span class=\"xn-money\">$5.3<\/span> million was attributed to the two parcels of land. The balance of <span class=\"xn-money\">$56<\/span>.4 million was attributed to the three stand-alone food stores, representing an implied capitalization rate of approximately 6.4% for these properties. This acquisition was funded by cash and the issuance of 1,092,052 Class B LP Units of Choice Properties Limited Partnership, which have a value of approximately <span class=\"xn-money\">$14.6 million<\/span>. With the completion of this transaction, Loblaw\u2019s and George Weston Limited\u2019s effective ownership interests in the Trust are 82.4% and 6.1%, respectively.<\/p>\n<p><b>Acquisition of a Retail Property from a Third-Party Vendor<br><\/b>On <span class=\"xn-chron\">November 1, 2017<\/span>, Choice Properties completed the acquisition of a multi-tenant shopping centre located in <span class=\"xn-location\">Mont-Saint Hilaire, Quebec<\/span> from a third-party vendor. The shopping centre is approximately 57,000 square feet and is 100% occupied. The centre is anchored by food and pharmacy retailers, IGA and <span class=\"xn-person\">Jean Coutu<\/span>.  This acquisition was immediately accretive with a purchase price of approximately <span class=\"xn-money\">$15.4 million<\/span>, excluding acquisition costs, representing a capitalization rate of approximately 6.0%, and was funded by cash.<\/p>\n<p><b>About Choice Properties Real Estate Investment Trust<br><\/b>Choice Properties Real Estate Investment Trust is an owner, manager and developer of well-located retail and other commercial real estate across <span class=\"xn-location\">Canada<\/span>. Choice Properties\u2019 portfolio spans approximately 44.1 million square feet of gross leasable area and consists of 546 properties primarily focused on supermarket and drug store anchored shopping centres, stand-alone supermarkets and drug stores, and other retail properties. Choice Properties\u2019 strategy is to create value by enhancing and optimizing its property portfolio, which was built over thirty years by Loblaw, the Trust\u2019s principal tenant, and largest Unitholder. Choice Properties\u2019 strong alliance with Loblaw positions it well for future growth. For more information, visit Choice Properties\u2019 website at <a target=\"_blank\" href=\"http:\/\/www.choicereit.ca\/\" rel=\"nofollow noopener noreferrer\">www.choicereit.ca<\/a> and Choice Properties\u2019 issuer profile at <a target=\"_blank\" href=\"http:\/\/www.sedar.com\/\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p><b>Forward\u2013Looking Statements<br><\/b>This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Choice Properties\u2019 current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Choice Properties\u2019 control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed in the MD&amp;A section of Choice Properties\u2019 Third Quarter 2017 Report to Unitholders. Choice Properties does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.<\/p>\n<p>SOURCE  Choice Properties Real Estate Investment Trust<\/p>\n<p><img decoding=\"async\" alt=\"Rt\" src=\"https:\/\/rt.newswire.ca\/rt.gif?NewsItemId=C3042&amp;Transmission_Id=201712051645CANADANWCANADAPR_C3042&amp;DateId=20171205\" style=\"border:0px; width:1px; height:1px;\"><\/p>\n","protected":false},"template":"","class_list":["post-16902","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>Le fonds d&#8217;investissement immobilier Choice Properties fait le point sur les acquisitions - 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\/news-release\/choice-properties-real-estate-investment-trust-provides-acquisition-update\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Le fonds d&#8217;investissement immobilier Choice Properties fait le point sur les acquisitions\" \/>\n<meta property=\"og:description\" content=\"\/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.\/ TORONTO, Dec. 5, 2017 \/CNW\/ \u2013 Choice Properties Real Estate Investment Trust (\u00ab\u00a0Choice Properties\u00a0\u00bb or the \u00ab\u00a0Trust\u00a0\u00bb) (TSX: CHP.UN) today completed the acquisition of a portfolio of five properties from certain subsidiaries of Loblaw Companies Limited (collectively, \u00ab\u00a0Loblaw\u00a0\u00bb). 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