04:39 PM EDT, 10/10/2025 (MT Newswires) -- Primaris Real Estate Investment Trust (PMZ-UN.TO) announced on Friday that it has officially closed on its $565 million acquisition of the Promenades St-Bruno mall in Montreal from Cadillac Fairview, completing a deal first announced just days earlier.

The transaction was structured with a blend of cash and equity. Pursuant to the terms of the acquisition, Primaris elected to satisfy the equity portion of the consideration by delivering to Cadillac Fairview the cash equivalent of the net proceeds, assuming the exercise of the over-allotment option, of the bought deal offering, which closed earlier today.

Shares of the Primary Real Estate Investment Trust were last seen up by $0.03, or 0.20%, to $14.77 on the Toronto Stock Exchange.