Galeries de la Capitale will change ownership soon.

Galeries de la Capitale will soon change ownership.

It was first reported that Oxford Properties, co-owner for 11 years, had elected to divest the sun.

According to the Green Street website, which specializes in real estate affairs, RBC Bank has obtained authorization to sell the building, which has an area of ​​​​1.3 million square feet, for about 300 million dollars.

The shopping centre was built in 1981, and the Canada Pension Plan Investment Board has been the other co-owner since 2013.

According to the latest real estate appraisal from Quebec City, the land is valued at $61 million and the building at $237 million, for a total of $298 million.

The mall was founded by investor Marcel Adams with his company Les Développements Iberville. The Canadian billionaire died in 2020 at the age of 100.

Les Galeries de la Capitale is one of the largest and busiest shopping malls in Eastern Canada.

The place has also become an economic engine for Quebec. Méga Parc was built in 1988 to attract families.

Galeries de la Capitale receives approximately 9.5 million visitors annually.