Belgian firm Kinepolis Group is acquiring Calgary-based movie theatre chain Landmark Cinemas Canada in a $123 million deal.
The deal includes Landmark’s 44 cinemas with a total of 303 screens across Western Canada, Ontario and the Yukon. The transaction is expected to close by the end of the year.
Landmark management and staff will remain in place.
Kinepolis Group is located in Ghent, Belgium and has acquired 48 cinemas across Europe since 1997. The company holds a total of 500 screens in their home country, Netherlands, France, Spain, Luxembourg, Switzerland and Poland. This is the firm’s first North American acquisition.
Kinepolis also deals in film distribution, movie marketing and advertising.
"Combining with Kinepolis will provide Canadian movie lovers with greater access to world class cinema experiences,” said Neil Campbell, chief executive officer of Landmark Cinemas Canada.
Landmark has 10 cinemas in Alberta, 15 across B.C. and five in Manitoba.
From | CBRE Limited, Calgary. CBRE agent John Moss reports the following sale:
DEAL | A 2.76-acre strip mall near Calgary, with two multi-tenant buildings totaling 16 units. Cochrane, Alberta. Price: $8.5 million.
CBRE Vancouver agent Lance Coulson reports:
DEAL | Three-storey rental building Thornwood Manor, comprised of 13 suites on a 14,880-square-foot lot. Inverness Road, Victoria. Price: $3.35 million.
DEAL | 52-unit rental building on 29,083 square feet of land. Ash Street, New Westminster. Price: $11.2 million.
From | Avison Young, Vancouver. Avison Young agents Russ Bougie and Kevin Kassautzki sold the following:
DEAL | A retail investment property tenanted by a Tim Hortons and Esso gas station, situated on 1.4 acres. Nordel Court, Delta. Price: $4.29 million.
Avison Young agent Michael Farrell reports:
DEAL | 31,288-square-foot, freestanding industrial building with yard space situated on 1.68 acres, 272nd Street, Langley. Price: $5.6 million.
From | NAI Commercial, Vancouver. NAI agent Conor Finucane sold the following:
DEAL | Freestanding manufacturing building on a 21,120-square-foot industrial site zoned for medium density, multi-family redevelopment. Antrim Avenue, Burnaby. Price: $5.15 million.
DEAL | Par 3 golf course of 26.9 acres, with both commercial and agricultural zoning, 64th Avenue, Delta. Price: $4.5 million.
From | William Wright Commercial, Vancouver. William Wright agent Cory Wright brokered the following deal:
DEAL | 1,083-square-foot retail and office space, zoned for medical or professional services. West Broadway, Vancouver. Price: $950,000.
From | Colliers International, Vancouver. Colliers agent Phil Gibbons reports:
DEAL | Two industrial properties, totaling 1.37 acres, including a 23,500-square-foot manufacturing building. Braid Street and Vulcan Street, New Westminster. Price: $5.5 million.
From | Frontline Real Estate Services Ltd., Langley. Frontline agent Kyle Dodman reports:
DEAL | 4.18-acre property with plans for a custom industrial facility offering 5,500 to 30,000-square-foot units. Iron Mills Court, Abbotsford. Price: $4.93 million.
From | Lee & Associates, Vancouver. Lee & Associates agents Russell Long, Howard Malchy and Arash Rezai brokered the following:
DEAL | A retail strip of five leasable units with major retail redevelopment potential, totalling 9,375 square feet. Arbutus Street, Vancouver. Price: $12.5 million.
From | HQ Commercial, Vancouver. HQ Commercial agent Mark Goodman reports the following:
DEAL | Recently renovated apartment complex with 55 units on a 32,827-square-foot lot. Poplar Street, Nanaimo. Price: $8.5 million.
