Winnipeg's Kildonan Place Shopping Centre has been sold for $138.5 million.

The Transcona-area mall's new owner is H&R Real Estate Investment Trust.

Sears Canada has said it will receive nearly $28 million for the sale of its 20 per cent stake in the mall.

Sears will continue to operate its department store at the shopping centre.

Ivanhoe Cambridge owned the remaining 80 per cent of Kildonan Place Mall.