TORONTO - Scott's Real Estate Investment Trust (TSX:SRQ.UN), a Toronto-based property owner, says it has completed the acquisition of an income-producing retail property in Levis, Que. for $6 million.

The mall is anchored by a Tim Hortons (TSX:THI) store and other well-known retailers.

Levis is an eastern Quebec community just south of Quebec City.

"This strategic acquisition demonstrates our ongoing commitment to doubling our asset value in our first three years as a REIT," said Evelyn Sutherland, chief financial officer of Scott's REIT.

"Featuring four well-known brands in Quebec, we expect this recently built property to benefit from the high traffic of this growing area."

The property was acquired for $6 million.

Scott's REIT is Canada's largest small-box retail property owner with 205 properties in seven provinces across Canada.

Units of the trust were up four cents at $6.45 in early trading on the TSX.

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