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Another Chain coming to Charlottetown

Oct 20 2006

APM’s Tim Banks says a deal has been finalized to bring a third store into his new mall located at 193 Malpeque Road.

The mall, currently under construction at the Sears power centre, now houses a provincial liquor store. Linens ‘n’ Things opens next spring. But Banks said a deal has been finalized for a third store. He said an official announcement will be made in January but he does confirm it is another national retailer.

In Saturday’s paper, it was reported that the mall had been sold to a Toronto investment trust. Banks said APM continues to be the owners of the mall, for now. “We have entered into a bona fide agreement of purchase and sale with Whiterock Real Estate Investment Trust that will put the sale price at $6,375,000 when fully earned out,” said Banks.

“The closing date for the sale is scheduled for the end of March 2007 and until that time we are the owners.”

Media Contact: MediaReleases@apm.ca