OTTAWA, Jan. 25 /CNW Telbec/ - Primecorp Commercial Realty Inc. is
pleased to announce that it, acting as exclusive Advisor, facilitated the sale
of West End Mall, a 178,000 square foot enclosed retail centre located at 1200
Pembroke St West in Pembroke, Ontario.
The Shopping Centre is anchored by a 92,000 square foot Zellers store,
and includes other prominent National retailers, The Brick and Blockbuster
Video and a 27,000 square foot grocery store. The asset was purchased from
Canpro Investments Ltd. by Erez Capital Fund, with an international private
The transaction was led by Sam Firestone, Nick Pantieras and Aik
Aliferis, Principals of the Primecorp Commercial Investment Group, assisted by
its research team and Tom Stathopoulos, and marks a major transaction for the
Eastern Ontario region.
"This acquisition demonstrates foreign investors' appetite to acquire
investment grade opportunities in Secondary markets within Canada." states
This transaction exhibits Primecorp's continued leadership in the
brokerage of sophisticated investment transactions in the Canadian Real Estate
market. Primecorp has been involved in transactions exceeding C$375 Million in
2007 and is expecting to close over $100 million in transactions by the end of
the first quarter of 2008.
"Strategic Investment opportunities are still available in these
aggressive and competitive markets", says Pantieras. Aliferis adds, "Primecorp
is uniquely positioned to execute major investment transactions in multiple
Primecorp, led by its four founding partners, Sam Firestone, Aik
Aliferis, Steve Lerner, and Nicolas Pantieras, is a strategically focused
Commercial Real Estate Investment Brokerage, Management and Advisory Firm. The
firm has completed in excess of C$2 Billion in Real Estate transactions with
private and institutional investors, public corporations, REITS and
international investment groups in over 30 Canadian cities.
For further information:
For further information: Aik Aliferis, Media Relations, 1-888-720-2020