Primaris Real Estate Investment Trust, a real estate investment firm, agreed to acquire Conestoga Mall from Ivanhoé Cambridge, a real estate investor, for $270m. “This landmark transaction is the culmination of months of collaboration with Ivanhoé Cambridge, and further validates and demonstrates support for Primaris’ platform, strategy and value proposition. Since the inception of Primaris REIT, we have been very clear about the significant opportunity to acquire additional market leading Canadian shopping centres. Primaris is uniquely positioned as a potential buyer, with institutional scale as the third largest owner-operator of enclosed shopping centres in Canada with proforma assets of approximately $3.5 billion, a very well capitalized balance sheet, a differentiated financial model and a mandate for growth," Alex Avery, Primaris REIT CEO.