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“We are pleased to complete this transaction with our partners, as it represents a rare opportunity to own a landmark mixed-use asset with a strong tenant roster in the heart of Edmonton’s downtown core,” said John McKinlay, LaSalle Canada CEO, in the release.

“This acquisition aligns well with LCPF’s objective to provide investors with immediate exposure to a diverse and mature portfolio of assets focused in Canada’s six major markets. We are pleased with the strong relative performance of the fund and the sustained interest from multinational investment partners.”

North American Development Group entities, including CentreCorp Management, will provide property management services and leasing for Edmonton City Centre retail, while Canderel entities, including Humford Management, will provide property management services and leasing for the office and non-retail components.

The financial terms of the acquisition were not disclosed.