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Shaughnessy Station is located in the city of Port Coquitlam which is 30 kilometres east of Vancouver. Port Coquitlam has a strong middle income residential base, home to 47,000 residents. It also has a thriving industrial base. Shaughnessy Station is ideally located in the heart of Port Coquitlam, at the busy intersections of Lougheed Highway and Shaughnessy Street. The center comprises 120,000 square feet, and was previously anchored by Canadian Tire, Bank of Nova Scotia and is shadow anchored by Safeway Foods. At the time of the acquisition, the investment offered a good yield as the BC marketplace and economy was weak. However, Terracap anticipated a growing and stronger market and was seeking to geographically diversify its portfolio. Although the centre was fully leased, it had some weak restaurant pad tenants. Soon after the acquisition, one of the restaurant pad operators failed. TerraCap replaced the tenant with Bank of Nova Scotia with a drive through. In addition the second