Primaris REIT Announces $411 Million Acquisition of Leading GTA Shopping Centre, Upper Canada Mall

Upper Canada MallApple Store at Upper Canada MallUpper Canada Mall Site Plan TORONTO, September 30, 2026--(BUSINESS WIRE)--Primaris Real Estate Investment Trust ("Primaris" or the "REIT") (TSX: PMZ.UN) announced today that it has agreed to acquire a 100% interest in Upper Canada Mall in Newmarket, Ontario for $411 million, to be satisfied in cash (the "Acquisition"). The Acquisition further advances Primaris' strategy of acquiring market-leading enclosed shopping centres in growing Canadian markets, where the REIT can deploy its full-service operating platform to drive income growth and long-term per unit value creation.