MONTREAL, March 22, 2020 /CNW Telbec/ – In light of the latest developments and directives issued by the government of Québec, Ivanhoé Cambridge will close all shopping centres in Québec to the public, as of midnight today until May 1st. Essential services will be maintained.
Essential services maintained
Groceries, pharmacies and the SAQ, as identified by government guidelines, will remain open. Required access will be maintained at each of our properties and instructions to access these services will be posted on the websites of each of our shopping centres.
Support measures for its tenants in Québec shopping centres
Ivanhoé Cambridge announced, last Thursday, measures to alleviate the immediate financial burden for its tenants in its Québec shopping centres and contribute to support the Quebec economy. As such, Ivanhoe Cambridge is granting a deferral of the rent payable by those tenants of its retail properties in Quebec, until a later date to be identified in the future, according to their respective situation, and for a period to be determined according to the evolution of the situation.
Office buildings in Quebec and shopping centres in Canada
Office buildings in Quebec remain open for the time being. As for shopping centres in the rest of Canada, they will also remain open for the time being. Ivanhoé Cambridge is ready to implement the measures imposed by public health agencies and government authorities in each of the provinces in which it operates.
It should be noted that Ivanhoé Cambridge’s activities and services are maintained in its business offices.
Furthermore, Ivanhoé Cambridge’s top priority is the health and safety of its customers, tenants, employees and the communities in which the Company operates. Ivanhoé Cambridge is deploying all the means at its disposal to help control the spread of the virus and is closely monitoring the evolution of the situation.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a long-term view to generate optimal, risk-adjusted returns. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Vertically integrated in Canada, Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the residential, office, retail, industrial and logistics sectors. Ivanhoé Cambridge held C$64 billion in assets as at December 31, 2019, and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpqcom), one of Canada’s leading institutional fund managers. For more information: ivanhoecambridge.com
SOURCE Ivanhoé Cambridge Inc.
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