Heritage Place Shopping Centre in Owen Sound will have new owners on Thursday as part of a huge takeover of more than 40 shopping centres in Canada.
Shareholders with Primaris — the former Mall owners — have voted in favour of a 1.28 billion dollar takeover of several properties by H & R Real Estate Investment Trust and Kingsett Capital.
The offer of just over 28 dollars per share, was accepted in a vote on March 22nd, and the official takeovers will happen on April 4th.
In total, the purchase involves some 43 shopping centres in Canada — including Dufferin Mall in Toronto, Stone Road Mall in Guelph, the Tecumseh Mall in Windsor and Heritage Place in Owen Sound.
The new ownership for the local Mall is a 50 per cent split between Kingsett Growth LP and the Ontario Pension Board.
At this point, there is no word on major changes to Heritage Place Shopping centre as a result of the sale.
One of the challenges the new owners face is finding a new tenant for the former Zellers location.
The store closed last month, leaving a 67 thousand square foot hole in the Mall.
