Fredericton-based Plaza Retail, one of the Maritimes’ most prominent shopping-centre owners, said Thursday that additional parties have expressed interest in a potential transaction, prompting the trust to broaden its strategic review.

The review could result in a sale of Plaza, a merger or other business combination, or the sale of some or all of its properties. The company cautioned that the process may not lead to a deal.

The latest development follows Axia Real Assets’ unsolicited offer, disclosed July 7, to acquire Plaza for $5.28 per unit. The proposal valued the trust at approximately $1.23 billion, including about $670 million of debt. Axia submitted the offer June 8.

Plaza’s special committee of independent trustees is conducting the review with financial and legal advisers. No deadline has been established.

The process is particularly significant in the Maritimes. Headquartered in Fredericton, Plaza owns shopping centres and stand-alone retail properties across New Brunswick, Nova Scotia and Prince Edward Island.

A takeover or major asset sale could place a substantial collection of the region’s retail properties under new ownership, including locations in smaller communities that typically receive limited attention from national institutional investors.

Plaza’s national portfolio includes interests in about 190 properties covering approximately 8.8 million square feet.