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Primaris REIT Completes $154 Million Strategic Disposition and Provides Financing Update
TORONTO, December 22, 2025--Primaris Real Estate Investment Trust ("Primaris" or the "REIT") (TSX: PMZ.UN) announced today progress on its disposition program that supports its capital recycling objectives.
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[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":371,"url":"https://media.zenfs.com/en/business-wire.com/5d936696587d1e4bef049fdb3740c55a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/417c6nmViG7Bd8N.jb3JBQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTc0MjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/5d936696587d1e4bef049fdb3740c55a","width":480,"height":371}},"lazy":false},{"type":"text","content":"TORONTO, December 22, 2025--(BUSINESS WIRE)--Primaris Real Estate Investment Trust ("Primaris" or the "REIT") (TSX: PMZ.UN) announced today progress on its disposition program that supports its capital recycling objectives.","length":243,"tagName":"p"},{"type":"text","content":"Northland Disposition","length":21,"tagName":"p"},{"type":"text","content":"On December 19, 2025, Primaris completed the sale of Northland Village and Northland Professional Centre ("Northland") in Calgary, Alberta, for $154.0 million, to a Canadian institutional investor. Northland Village, a recently redeveloped, high quality, open air centre, is anchored by Walmart, Winners, Best Buy, GoodLife, Dollarama, and Spinelli Italian Centre Shop, a specialty grocery store and restaurant. Situated in an affluent trade area in northwest Calgary, Northland attracted strong interest from a broad pool of buyers.","length":543,"tagName":"p"},{"type":"text","content":""Primaris is very pleased to close out the year with the strategic disposition of Northland, continuing to demonstrate our track record of disciplined capital allocation and capital recycling," said Alex Avery, Chief Executive Officer. "Executing $400 million of non-core asset sales in 2025 underscores Primaris’ commitment to maintain a best-in-class balance sheet while continuing to leverage the competitive advantage our management platform provides, for acquiring, owning, and managing market leading Canadian malls."","length":543,"tagName":"p"},{"type":"text","content":"Northland was sold at IFRS fair value, with proceeds allocated to the repayment of debt, repurchase, and cancellation of units under the REIT’s normal course issuer bid, and general trust purposes.","length":197,"tagName":"p"},{"type":"text","content":"Northland Village and Northland Profes...