JV Plans Montreal Premium Outlets

INDIANAPOLIS—Simon Property Group Inc., Calloway Real Estate Investment Trust and SmartCentres announced plans to develop a second outlet center in Canada.

The center, called Montreal Premium Outlets, will be located in the Town of Mirabel, Quebec, approximately 20 miles north of Montreal. The project is a joint venture between Simon, Calloway and SmartCentres; Simon will own 50 percent of the project.

The Mirabel site is located on Highway 15 at Notre Dame Street. Phase 1 will be comprised of 350,000 sq. ft. of gross leasable area and 80 stores. Construction is expected to begin in 2013.

The first Simon and Calloway project, Toronto Premium Outlets, located in the Town of Haltom Hills, is currently under construction and on schedule for a summer 2013 opening.

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