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RioCan Deals Latest Noncore Asset, Flips Flamborough Power Centre for $18.5 Million

Krpan Group Adds Hamilton Retail Centre to Portfolio
October 11, 2018
RioCan, the second largest real estate investment trust in Canada, has sold the Flamborough Power Centre in Hamilton, Ontario, as part of the company's divestment of non-core assets in secondary markets.

Krpan Group, a privately-held Canadian company with investments in commercial properties, acquired the 207,271-square-foot retail centre for $18.5 million, or approximately $89 per square foot.

The centre was constructed in 2007 off Hwy. 6 along Horseshoe Crescent near the Burlington Bay. Anchor tenants include Dollarama, The Keg Steakhouse, Boston Pizza, Starbucks and Value Village, according to CoStar information.

Please see CoStar COMPS #4530234 for more information on this transaction.
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