Business
Gulf & Pacific Equities Corp. Announces Agreement to Acquire Tri-City Mall in Cold Lake, Alberta
Gulf & Pacific Equities Corp. Announces Agreement to Acquire Tri-City Mall in Cold Lake, Alberta.
About this update from Gulf & Pacific Equities Corp.
[{"type":"text","content":"\n\n\n\n\nTORONTO, March 30 /CNW/ - Gulf & Pacific Equities Corp. (TSX Venture\nExchange - \"GUF\") (the \"Corporation\") is pleased to announce that it has\nentered into an agreement with 575842 Alberta Ltd. and Rick Holdings Ltd. to\nacquire the Tri-City Mall located in Cold Lake, Alberta. Tri-City Mall is a\ngrocery-anchored shopping centre with a gross building area of approximately\n161,303 square feet anchored by a Sobeys store and a Zellers store on a lot\narea of approximately 26 acres. The purchase price for this acquisition is\n$13.3 million in cash and is subject to a number of conditions, including: the\napproval of the acquisition by the Board of Directors of the Corporation; the\nCorporation being satisfied with its due diligence; the Corporation obtaining\nfinancing; and obtaining any necessary regulatory approvals. Gulf & Pacific\nEquities Corp. is engaged in the ownership, management and development of\ngrocery-store anchored shopping centers in Alberta, Canada with one commercial\nproperty located in British Columbia.\n\nThe TSX Venture Exchange has in no way passed on the merits of this\nacquisition and has neither approved nor disapproved the contents of this\npress release.\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this press release.\n\n%SEDAR: 00010381E\n\n\n","length":1402,"tagName":"div"}]