Montreal’s Leyad buys portfolio of properties leased to Loblaw

Montreal real estate developer Leyad said it acquired a portfolio of grocery properties leased to Loblaw Companies.

The single-tenant properties comprise some 387,000 square feet and are located in British Columbia, Manitoba, New Brunswick, Nova Scotia, Saskatchewan and Yukon.

Leyad said the deal marks its entry into B.C. and Yukon. Its footprint also extends to Alberta and Quebec. 

Grocery-anchored properties are increasingly “forming the backbone” of Leyad’s strategy to build a portfolio of necessity-based retail real estate and tenants that provide essential services to Canadian

With the addition of these assets, Loblaw Companies becomes Leyad's largest tenant by revenue. 

"With this acquisition, we are doubling down on the most resilient segment of retail real estate," said Henry Zavriyev, CEO of Leyad, in a statement. "These are established, high-performing locations that continue to play an essential role in the daily lives of the communities they serve."