KingSett has bought co-ownership stakes in two additional Cadillac Fairview malls as the companies expand on a partnership announced in September 2025.

Cadillac Fairview said on Friday it completed the sale of 50 per cent, non-managing interests in CF Pointe Claire mall in Quebec and CF Markville in Ontario to KingSett's Real Estate Growth LP No. 9, marking the second and third co-owned assets between the two firms.

"We are very proud to expand our relationship with KingSett Capital, a highly respected and like-minded institutional investor that shares our long-term vision for best in class shopping centres," Cadillac Fairview president and CEO Sal Iacono said. "This milestone is a powerful testament to the strength and operational excellence of our management platform, as well as the enduring value and national reach of our portfolio."

Financial details of the transaction have not been released.

The two companies launched their partnership last fall as KingSett took a co-ownership stake in CF Masonville Place in London, Ont.

Shopping centres in prime Montreal and GTA locations

CF Markville is located in downtown Markham and houses 181 stores within 853,058 sq. ft. of gross leasable area. According to Cadillac Fairview, it achieves $1,069 per square foot in sales productivity and $2,721 per square foot in food court productivity.

Notable tenants at the shopping centre in the wealthy GTA suburb include Arc’teryx, Aritzia, Apple, Uniqlo and Lululemon.

CF Fairview Pointe Claire is located on the West Island of Montreal at the intersection of Autoroute 40 and Boulevard Saint-Jean.

There are 170 stores in the mall's 837,327 sq. ft. of gross leasable area with tenants which include anchor Simons department store, as well as JD Sports, Zara, Coach and Dynamite.

According to Cadillac Fairview's property details, CF Fairview Pointe Claire achieves $1,037 per square foot in sales productivity and $2,452 per square foot in food court productivity.

"Growing our co-ownership partnership with KingSett across these three prime Canadian assets underscores strong market confidence in premier retail destinations," Cadillac Fairview executive vice-president, investments, Marco Ding, said in the announcement.

"We look forward to combining our shared expertise to drive sustainable, long-term performance and unlock exceptional value across the joint portfolio."

KingSett's growth funds

Toronto-based KingSett’s Real Estate Growth LP No. 9 is the latest in its series of closed-end growth funds first launched in 2002. No. 9 launched this year, closing in August with an initial $1.853 billion in committed capital from Canadian pension plans, institutional investors and family offices. 

"The fund launches during a period of transition that KingSett believes is creating compelling opportunities across Canadian real estate," KingSett said in an Aug. 13 press release on the fund's initial close. "As markets continue to adjust, the firm sees the potential to acquire high-quality assets at attractive valuations while remaining measured and selective in its capital deployment."

Through its previous eight fund vintages, KingSett completed more than $39 billion of total transactions.

In announcing the acquisitions on Friday, KingSett CEO Rob Kumer said the expansion of the partnership "reflects the long-term opportunity we see in the sector" and the company's confidence in Cadillac Fairview.

“We continue to see compelling opportunities in high-quality Canadian retail, particularly in well-located centres that serve growing communities," he said.

Cadillac Fairview (CF) is one of the largest owners, operators, investors and developers of office, retail, multifamily residential, industrial and mixed-use properties in Canada. Wholly owned by the Ontario Teachers’ Pension Plan, with assets under management of $26 billion, CF manages a portfolio of landmark properties across Canada. 

KingSett Capital is a private equity real estate investment firm with over $19 billion of assets under management. Founded in 2002, KingSett creates value through a broad portfolio of custom real estate investments, financing solutions and asset classes.