Cadillac Fairview sold 50% of its interest in two malls they own to TD Asset Management “TDAM”. They announced that the co-ownership agreement would include both the CF Carrefour Laval and CF Sherway Gardens Malls.

TDAM saw a huge potential in investing in the two Canadian shopping malls, as they share the same vision regarding commercial retail real estate investing and growth in the Ontario and Quebec markets.

The North American investment management firm acquired a 50% interest in the two shopping centres, but they have not yet made any financial details public. The funds involved in the new co-ownership include the TD Greystone Real Estate Fund Inc. and the TD Greystone Real Estate L.P. Fund.

CF Carrefour Laval in the Greater Montreal Area

CF Carrefour Laval is one of the most top-tier shopping malls in the Greater Montreal Area and Quebec. It features several prominent retailers, such as Apple, Zara, H&M, Harry Rosen, and Hudson’s Bay.

These and many other retailers in the area attract very high traffic in the shopping centre, especially since its location in the city of Laval is very convenient. This is precisely why TD Asset Management wants to invest in these retail commercial real estate assets. 

CF Carrefour Laval Mall is already quite strong and shows good potential and predictable returns for the future, making it an excellent retail real estate investment opportunity.

CF Sherway Gardens in Toronto

CF Sherway Gardens in Toronto is also an excellent opportunity for commercial real estate investing. Not only is it one of the most renowned shopping centres in Toronto, but it is also situated in a very desirable location with high foot traffic, the West End of Toronto.

CF Sherway Gardens’ $550 million redevelopments that were completed in 2017 significantly improved its investment chances. The mall renovated its existing spaces and expanded to include over 450,000 extra square feet for new restaurants and retailers, such as The Danish Pastry House, Nike, Apple, Hudson’s Bay, Zara, Nordstrom, Tiffany & Co, and many others.

Jeff Tripp, TD Asset Management’s managing director, expressed his excitement over the new TDAM’s investment into Cadillac Fairview in a recent press release. “The shopping centre’s desirable location, strong tenant roster, intensification potential, and predictable returns will make it a foundational core holding in the funds for decades to come,” said Tripp.


Cadillac Fairview is one of the biggest and most renowned owners and developers of commercial real estate in North America, primarily in Canada. It’s a prominent investor in retail, office, and mixed-use properties, which makes it perfect for TD Asset Management’s long-term vision of commercial retail real estate investing.

If you want to know more about how to diversify your Canadian Retail CRE portfolio, contact us today. 

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