By Kate Shumakova [1]
BELLEVILLE – The Healthcare of Ontario Pension Plan is now the sole owner of the Quinte Mall. It purchased the remaining 50 per cent it didn’t already own on January 28.
Joe Versci, senior manager of the HOOPP, said the Quinte Mall is an excellent addition to its portfolio.
“These types of acquisitions are consistent with HOOPP’s strategy to own market-dominant malls, and assets such as these provide strong, stable returns to meet our pension promise to members,” he said.
Versci said that real estate is an important part of HOOPP’s investment strategy and they are trying to invest domestically and internationally, in all major cities.
“Real estate delivers steady, inflation-sensitive income, with potential for long-term capital appreciation,” he added.
Alexandra Benjafield, the general manager of Quinte Mall, said that the purchase will not affect the mall.
“It doesn’t affect the mall. From an operational point, everything will be exactly the same,” she said.