MONTREAL - The real estate arm of pension fund manager Caisse de depot et placement du Quebec has announced a $200-million investment to expand Ottawa's Bayshore Shopping Centre.
Ivanhoe Cambridge said Friday the shopping centre will be expanded by 160,000 square feet with the expansion slated for completion in 2015.
The additional retail space will allow the centre to introduce "highly desirable" retailers into the Ottawa market, Ivanhoe said.
"This investment reflects our strategic plan to invest in our properties in order to provide an exceptional shopping experience for consumers and an optimal place of business for our retailers," said Kim McInnes, president of global operations.
The centre, managed by Ivanhoe Cambridge and co-owned with KingSett Capital, will remain open during the phased construction.
Ivanhoe Cambridge is one of the 10 largest real estate companies in the world, with more than $30 billion of assets in over 20 countries as of Dec. 31.