Plaza closes $6.1 million partner buyout

FREDERICTON, Jan. 13, 2015 /CNW/ - The previously announced partner buyout by Plaza Retail REIT (PLZ.UN: TSX) is now closed for 1,319,000 exchangeable LP units at $4.60 per unit, exchangeable into Plaza Retail REIT units on a one-for-one basis. The partners owned interests in 8 properties located in New Brunswick and Prince Edward Island.       

ABOUT PLAZA
Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, particularly in Eastern Canada.  Plaza's current portfolio includes interests in 309 properties totaling approximately 6.6 million square feet across Canada and additional lands held for development.  Plaza's properties include a mix of strip plazas, stand-alone small box retail outlets and enclosed shopping centres, anchored by approximately 90% national tenants.

SOURCE Plaza Retail REIT