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First Capital, Firm Capital Acquire Whitby Mall From El-Ad

First Capital Realty and Firm Capital Property Trust have acquired Whitby Mall from a subsidiary of El-Ad Group (Canada) in a JV deal that presents “value-enhancing repositioning opportunities.” That’s according to Primecorp Commercial Realty CEO Aik Aliferis, whose firm brokered the sale. He notes the transaction—the 375k SF mixed-use property is anchored by Sobeys and Bad Boy Furniture and has office space—allows El-Ad to "continue on its development path," with the master-planned Emerald City community at Don Mills and Sheppard and redevelopment of the Galleria Mall site on Dupont Street.

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