MONTREAL, Aug. 2, 2012 /CNW Telbec/ – Ivanho Cambridge announces today
it has purchased the 50% interest held by its partner, German asset
manager Commerz Real, in the partnerships holding four prominent
Canadian shopping centres. This transaction makes Ivanho Cambridge
sole owner of Place Ste-Foy in Quebec City and Galeries Rive Nord in
Repentigny, Quebec as well as Mayfair Shopping Centre in Victoria,
British-Columbia, and Mic Mac Mall in Dartmouth, Nova Scotia.

“We are very pleased to increase our holdings in these prime retail
assets,” said Daniel Fournier, Chairman and Chief Executive Officer of
Ivanho Cambridge. “Our $508-million investment, including the
assumption of $138 million in debt, will further enhance our national
retail shopping platform. Today’s announcement fits our strategy to
increase our critical mass in select markets.”

Mr. Fournier added: “Our best returns on investment often come from
properties in which we have been involved for many years. We know our
customers and our retailers and we continually find new ways to serve
them better. Place Ste-Foy, Galeries Rive Nord, Mayfair Shopping Centre
and Mic Mac Mall are all situated in excellent locations and are key
assets in their respective communities.”

Ivanho Cambridge owns 38 shopping centers in six provinces across
Canada, of which 16 are in Quebec (11 fully owned properties and at
least a 50% interest in the other five), six are in British-Columbia
(four fully owned properties and a 50% interest in the other two) and
one fully owned property in Nova Scotia.

Place Ste-Foy
Place Ste-Foy, a premier shopping centre in Quebec City, underwent a
major $50-million redevelopment and expansion in 2010. Ideally located
on Laurier Boulevard, it is recognized as an upscale fashion
destination.

Galeries Rive Nord
As the top shopping destination in the Lanaudière region, Galeries Rive
Nord welcomes nearly 7.5 million visitors a year. The centre has more
than 130 stores, including leading industry names and major retailers.

Mayfair Shopping Centre
Mayfair Shopping Centre, with more than 120 shops, is Vancouver Island’s
market leader and is recognized for its fashion flair. It offers a
dynamic blend of national and regional retailers in an exciting
environment for shoppers.

Mic Mac Mall
Mic Mac Mall serves the two-thirds of Nova Scotians living within a
radius of 140 km. The centre provides an attractive and varied range of
retailers specializing in fashion and lifestyle, as well as renowned
department stores. It attracts more than six million visitors a year.

About Ivanho Cambridge
Ivanho Cambridge is one of the world’s 10 largest real estate
companies. As at December 31, 2011, its assets totalled more than $30
billion and could be found in over 20 countries around the world.
Ivanho Cambridge is a real estate subsidiary of the Caisse de d pôt et
placement du Qu bec (lacaisse.com), one of Canada’s leading institutional fund managers. For more
information, visit ivanhoecambridge.com.

SOURCE IVANHOE CAMBRIDGE