The real estate investment and development firm Leyad has acquired St. Vital Centre, the Winnipeg shopping center, for $160.5 million.
St. Vital Centre encompasses approximately 1 million square feet of gross leasable area and features 160 retailers. It attracts 8 million visitors annually, making it one of Manitoba’s most popular retail venues.
Leyad added the transaction was financed through a syndicated loan provided by six leading credit unions.
“This syndication highlights the ability of Canadian credit unions to collaborate on large, institutional-quality transactions while supporting assets that matter to their communities,” said Leyad President Henry Zavriyev. “This acquisition embodies everything we look for in a community shopping center. St. Vital Centre is dominant in its market, anchored by essential retail, deeply embedded in the daily lives of the community, and positioned for many decades of continued success. We are proud to become its long-term steward.”
