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Landlords to pay $138 million for return of Target store leases

Leases for 11 properties that are winding down as Target Canada stores have been sold back to landlords for $138 million before taxes.

Documents filed with an Ontario court outline details of the sales to Oxford Properties Corp. and Ivanhoe Cambridge, which received court approval last week.

The price was kept under wraps by the court to ensure it didn’t influence the sales of other Target Canada properties that were under negotiation.