Bayfield Realty Advisors Announces Acquisition of a 100% Interest in an 8 property portfolio
Monday, February 1, 2016
TORONTO, ONTARIO – (Marketwired – Feb 1, 2016) – Harold Spring, President and CEO of Bayfield Realty Advisors Inc. is pleased to announce the acquisition of a 100% interest in a 51,386 sf 8 property portfolio, comprised of 10 free-standing retail pads in Ontario and Québec for a total price of $15,230,000. The Portfolio is 100% leased and features a weighted average lease term (“WALT”) of more than 5 years. 99% of the Portfolio is leased by national, publicly-traded covenant tenants (Shoppers Drug Mart, Tim Hortons, Harvey’s, Pizza Hut, Scores, Madisons and Carquest). The Portfolio’s tenancy profile comprises three strong retail sectors – food, automotive and pharmacy. COGIR will manage and lease the propertiesand Bayfield will act as asset manager.