Calloway to acquire SmartCentres in C$1.16 bln deal

April 16, 2015 10:07 PM

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TORONTO, April 16 (Reuters) - Calloway Real Estate Investment Trust said on Thursday it is acquiring the SmartCentres platform from Mitchell Goldhar as part of a C$1.16 billion ($952 million) deal that will make Calloway a fully integrated real estate developer and operator.

On closing of the proposed deal, Toronto-based Calloway said, it intends to change its name to SmartREIT to reflect its enhanced capabilities.

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