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ViveRE Communities Inc. Provides Corporate Update
ViveRE Communities Inc. Provides Corporate Update Canada NewsWire HALIFAX, March...
About this update from Nexliving Communities Inc
[{"type":"text","content":"\n\n\n\nViveRE Communities Inc. Provides Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, March 4, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO US WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/\n HALIFAX, March 4, 2020 /CNW/ - ViveRE Communities Inc. (TSXV: VCOM) (\"ViveRE\" or the \"Company\") provides the following corporate update. \n\n \n \n \n \n \n \n\n \nViveRE's plan to acquire recently built or refurbished, highly leased multi-residential properties in bedroom communities across Canada continues to advance. The Company aims to satisfy the needs of the newly emerging 55+ resident. The demographic that has changed the world is now changing the way residential rental apartments cater to their requirements. Their desire for community, along with service and convenience amenities has led to the emergence of the Naturally Occurring Retirement Community or \"NORC\". Apartments are the next \"home\", after years of owning they look to the carefree lifestyle provided through renting in a community of their peers. ViveRE Communities Inc. intends to consolidate this emerging market niche across the Country.  As press released on January 8 (75 Emma St. in Oshawa, Ontario), January 30 (Denaco acquisition comprised of 3 properties located in Moncton, NB) and February 18, 2020 (ATMJ acquisition comprising 10 buildings located in Moncton, NB), ViveRE currently has under agreement a total of 367 rental units. Upon closing these three transactions the total number of rental units owned by ViveRE will increase from 119 to 486. \n75 Emma St. Acquisition\nAs press released on January 8, 2020, ViveRE entered into a Share Purchase Agreement to acquire all the shares of Emma and Albert Development Inc. (\"Emma\"), whose sole asset is the real property located at 75 Emma Street, Oshawa, Ontario (the \"Emma St. Property\"). The Emma St. Property is a newly built multi-unit residential property totaling 20 units. \nViveRE will acquire Emma for a purchase price of $7,300,000, subject to...