Choice Properties and private equity firm KingSett Capital have agreed to acquire First Capital REIT in a cash-and-stock transaction valued at approximately CAD9.4bn ($6.85bn), including debt, according to a report by Bloomberg.
Under the terms of the deal, First Capital’s portfolio will be split between the buyers. Choice Properties will acquire the REIT’s grocery-anchored retail assets, valued at around CAD5bn, while KingSett Capital will take ownership of the remaining assets in a private tra...
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