Mayfair Shopping Centre, one of Victoria’s largest malls, has been purchased by international commercial real estate company Central Walk.
The deal closed June 1 and is the second transaction between Central Walk and Ivanhoé Cambridge, following the sale of Woodgrove Centre in Nanaimo in September 2020.
Central Walk owns and manages real estate projects in Asia and North America and has more than three decades of experience in partnering with real estate companies, with a focus on shopping centre concepts.
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“I’m so happy to have completed this investment on beautiful Vancouver Island,” said Central Walk founder, chair and CEO Weihong Liu in a press release. “Because this community has accepted me with open arms, I am committed to continuing to work with local leaders to build the communities that we have invested in.”
The Central Walk management team remains committed to their responsibility to provide a safe environment for tenants, staff and patrons at Mayfair as it moves forward under new leadership, the release added.
Once safe to do so, the company’s priorities will include increasing the number of entertainment, education and community events at the centre in the short term. Redevelopment of the property is part of Liu’s long-term goal for the centre.
“In Central Walk’s path forward, our intention is to continue working respectfully and collaboratively with our peers in the industry and in government – no matter the size – to forge strong professional bonds, to empower and grow our society, and to enrich the livelihoods of the communities who our assets serve, including those who are served by Mayfair,” she said.
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