Business
Imperial announces sale of two Edmonton properties
Imperial announces sale of two Edmonton properties.
About this update from Imperial Equities Inc.
[{"type":"text","content":"\n\n\n\nEDMONTON, July 5 /CNW/ - Imperial Equities Inc. (TSX-V:IEI) today\nannounced the sale of the Mayfield Industrial Plaza and the Can-K building to\nArtis REIT of Winnipeg, Manitoba for $5,425,000.\n\n\nThe timing was optimal for this sale as capitalization rates in the\nEdmonton marketplace are the lowest seen in many years. "We are experiencing\nan exciting economic climate that has come about as a result of low interest\nrates coupled with major capital slated for investment in the Edmonton market.\nThis combination creates an excellent opportunity for companies with assets to\nsell," said Sine Chadi, chief executive officer of Imperial Equities.\n\n\n"With every investment property, there comes a time when we believe we\nhave maximized its potential and the disposition of the asset would be\nbeneficial to our company. I am confident that this was the right decision,"\nsaid Chadi.\n\n\nThe sale will generate a significant amount of cash, which can be\ndirected toward new build-to-suit development opportunities on the company's\nbanked industrial lands.\n\n\nAbout Imperial Equities Inc.:\n\n\nBased in Edmonton, Alberta, Imperial Equities is dedicated to increasing\nshare value through a diverse group of companies anchored by commercial and\nindustrial real estate. Shares of Imperial Equities Inc., trade on the Toronto\nVenture Exchange (TSX-V: IEI). More information about Imperial Equities is\navailable by calling (780) 424-7227 or email at [email protected]\n\n\nThe Toronto Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: 00010417E\n\n\n","length":1743,"tagName":"div"}]