
Selling Institutional Quality Investment Assets
Kildonan Crossing Shopping Centre
1615 Regent Ave. W
Asset class: Retail
Type of deal: Sale
Vendor: RioCan REIT
Purchaser: LS Properties
Purchase Price: $43.5 million
Listing to Closing: 6 Months
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The 180,000 square foot shopping centre was grocery-anchored with 80% national retailers and had limited vacancy. Although it was a fantastic asset, aligning market value and market depth was a perceived challenge. There was concern that the transaction size may be too large for many local purchasers, and the number of national investors looking to acquire retail in a secondary market was limited.
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Ryan's knowledge of the investment market discredited the perceived challenges. He approached the Winnipeg investment community, and, to be sure, he travelled western Canada, generating interest in the opportunity.
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Ryan leveraged his relationship with an existing client and prominent investor, spending time to deeply understand and sort through the perspective purchasers' views and objections. As a result, he was able to procure and negotiate a deal that pleased his client — the seller — while helping the local investor complete one of their largest acquisitions up to that point.