Strong Cash Flow, Smart Financing Underpins Innisfail Mall Sale
Property repositioned with a focus on stabilizing cash flows
Henday Centre, a neighbourhood retail centre in Innisfail, Alberta, with 78,233 square feet of leaseable space, sold to local investor Brookstone Investment Corp. on March 31 for $11.25 million.
Occupancy averages 95 per cent, with key tenants IDA Pharmacy and Dollarama ensuring stable, long-term cash flow for Brookstone, whose portfolio of commercial assets now totals $50 million.
