Posted Sep 29, 2014, 5:56 PM
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Registered User
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Join Date: Mar 2012
Location: St. John's, NL
Posts: 1,295
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Fortis Selling Off Real Estate Assets
Quote:
A company with a huge footprint in the capital city's downtown is looking at selling off its real estate assets. Fortis Properties is exploring its options to see if it can sell off its real estate holdings, which represent just three per cent of its overall business. Fortis owns and operates a number of malls, office buildings, and 23 hotels across the country including the Delta, the Holiday Inn, and the Sheraton in St. John's.
Fortis also owns three malls in this province, the Marystown Mall, the Millbrook Mall in Corner Brook, and Fraser Mall in Gander, and a number of landmark structures in the downtown including Cabot Place, some historic structures on Water Street, the Fortis Building and the brand new Fortis Place which is not yet open.
President and CEO of Fortis Properties, Nora Duke, says it remains to be seen what will happen. She says they buildings may continue to operate as they are now under new owners, but that's not certain.
The sale process will get underway in the next few weeks and will continue through the coming year
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http://www.vocm.com/newsarticle.asp?...49591&latest=1
Last edited by J_Murphy; Sep 30, 2014 at 10:38 AM.
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