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Edgefront REIT agrees to acquire two industrial properties for $12.1 million
Edgefront REIT agrees to acquire two industrial properties for $12.1 million Edgef...
About this update from Nexus Industrial Reit
[{"type":"text","content":"\n\n\n\nEdgefront REIT agrees to acquire two industrial properties for $12.1 million\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.prngen3{\nBORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; BORDER-LEFT:black 1pt solid; PADDING-LEFT:0.50em; PADDING-RIGHT:0.83em; VERTICAL-ALIGN: MIDDLE; BORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid\n}\n.prngen2{\nBORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; BORDER-LEFT:black 1pt solid; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: MIDDLE; BORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid\n}\n.prntbls{\nBORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-COLLAPSE: collapse; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid\n}\n\n\n\n\n\n\nEdgefront REIT agrees to acquire two industrial properties for $12.1 million\nCanada NewsWire\nCALGARY, Nov. 4, 2015\n\n\n\nCALGARY, Nov. 4, 2015 /CNW/ - Edgefront Real Estate Investment Trust (the \"REIT\") (TSXV:  ED.UN) is pleased to announce that it has waived diligence conditions to acquire an industrial property located in Prince George, British Columbia and entered into a conditional agreement to acquire another industrial property located in Prince Albert, Saskatchewan. The aggregate purchase price for the two properties of approximately $12.1 million is to be satisfied by the issuance to the vendors of approximately $5.3 million of units at an issue price of $1.90 per unit (which represents a premium to the current market price of the REIT as traded on the TSX Venture Exchange) and $6.8 million in cash to be funded from available cash and proceeds of new mortgage financings on the properties.\n\n\"We are pleased to continue to execute on our accretive growth plan with another two acquisitions that will be partially financed by way of vendor unit take backs. At the completion of these two deals, we will have raised approximately $20 million of equity without the need to rely on raising money in the public capital markets. This has been an active year for Edgefront and we look forward to executing on additional deals in the future.\"&...