Leyad has completed the acquisition of a nearly $300-million portfolio of Loblaw-leased retail properties spanning all 10 provinces, which it calls Canada’s largest completed retail real estate transaction of 2026.

The deal expands Leyad’s national footprint, adding 22 single-tenant properties acquired from an unidentified U.S. vendor. It follows Leyad’s March purchase of seven Loblaw-leased stores from the same seller, an initial closing in the broader transaction.

The properties are leased to Loblaw on triple-net terms and have a weighted average lease term of approximately 14 years. The structure provides Leyad with long-term income backed by Canada’s largest food retailer.

“This is a defining transaction for Leyad,” said Greg Castiel, senior vice-president, commercial, at Leyad.

Castiel said the portfolio supports the company’s strategy of owning necessity-based retail properties with strong tenants and long leases while increasing its exposure to the grocery sector.

A larger retail-property acquisition remains pending. Choice Properties is set to acquire approximately $5 billion of First Capital’s retail assets as part of a broader $9.4-billion transaction with KingSett Capital. The Choice portfolio includes 101 properties with roughly eight million square feet. The transaction is expected to close before the end of the year.

Following the Leyad acquisition, Loblaw is the company’s largest tenant by revenue.