Cominar in bid to expand Canada property portfolio

TORONTO (Reuters) – Cominar Real Estate Investment Trust , aiming to create Canada’s second-largest diversified property portfolio, has offered to buy Canmarc REIT in a hostile bid that values its rival at C$838 million ($800.4 million). Canmarc’s office and retail properties would increase Cominar’s asset base by 42 percent and position it for further growth. Cominar, already the largest commercial property owner in the province of Quebec, would trail only H&R Real Estate Investment Trust as Canada’s biggest diversified REIT if the deal is completed. …