Bayfield Realty Advisors Inc.

January 07, 2013 09:00 ET

Bayfield Realty Advisors Announces Acquisition of Galeries des Sources

TORONTO, ONTARIO--(Marketwire - Jan. 7, 2013) - Mr. Harold Spring, President and CEO of Bayfield Realty Advisors Inc. (Bayfield) today announced that it has completed the acquisition of a 361,440 sf single storey enclosed regional shopping centre in Dollard-des-Ormeaux, Quebec for $53,500,000. The property, located approximately 15 km from downtown Montreal, is anchored by Canadian Tire, Winners, Staples, and Super C (Metro), and contains a 5,770 sf freestanding pad (SAQ-Government Liquor Store). The property is located at the convergence of two of Montreal's busiest thoroughfares, Des Sources Boulevard and Autoroute 40 (Trans-Canada). Cogir will manage and lease the shopping centre and Bayfield will act as asset manager.

Bayfield's commercial and retail portfolio now totals in excess of 4 million square feet in major Canadian markets with an approximate market value of $600 million dollars.

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