Homburg buys two shopping centers in Quebec (CA)

Homburg Invest Inc. has acquired Plaza de la Mauricie and Galleries Shawinigan, both in Shawinigan, Quebec, Canada. Plaza de la Mauricie is a 195,221-ft² enclosed community shopping center and Galleries Shawinigan is an adjacent 23,548-ft² strip mall. The acquisition also includes 9.06 acres of land for future development.

The purchase price of $32.5 million plus closing costs was financed through the assumption of debt of approximately $14.5 million, the issuance of 1,254,480 Class A Subordinate Voting Shares valued at $7 million and the remainder being paid in cash.

Plaza de la Mauricie, situated on 14.78 acres of land, is anchored by a new 37,800-ft² Super C Food Store, a 33,571-ft² Hart Department Store, and a 16,460-ft² Pharmaprix (Shoppers Drug Market). A 39,456-ft² Business Depot is attached to Plaza de la Mauricie, but is owned by Canadian Tire Corporation. The property currently has 53 tenants providing a broad tenant mix including fashion, service, specialty outlets and the Royal Bank of Canada, that are well positioned to serve the fashion and service needs of the community. Parking for approximately 1,250 cars is provided.

Galleries Shawinigan is located on 2.34 acres of land and provides parking for approximately 150 cars.

Source: Homburg

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