Charter REIT buys shopping center

Montreal property changes hands in $14.2 million deal

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Charter Real Estate Investment Trust has completed the purchase of a shopping center in Montreal in a deal valued at $14.2 million, the company said today. The two-story, 115,758-square-foot mixed-use retail property is located at 16-180 Anjou Blvd. in Chateauguay, Quebec. The property was fully occupied at the time of purchase, with the majority of tenants occupying retail space and the remaining 46,000 square feet occupied primarily by government tenants on the second floor. Major tenants include Business Depot, Cineplex Odeon and Yellow Group, as well as Societe Immobiliere du Quebec on the second floor. Charter Real Estate Investment Trust is an open-end real estate investment trust focused on retail and mixed-use retail real estate in primary and secondary markets throughout Canada....