Business
True North Commercial Real Estate Investment Trust - Announces the Strategic Disposition of Four Non-Core Assets at a Gross Sale Price of $61.4 Million Generating Approximately $19.1 Million of Net Proceeds
True North Commercial Real Estate Investment Trust - Announces the Strategic Disposition of Four ...
About this update from True North Commercial Reit
[{"type":"text","content":"\n \n \n \n True North Commercial Real Estate Investment Trust - Announces the Strategic Disposition of Four Non-Core Assets at a Gross Sale Price of $61.4 Million Generating Approximately $19.1 Million of Net Proceeds\n \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.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; TEXT-ALIGN: RIGHT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n April 18, 2024\n \n \n /CNW/ - True North Commercial Real Estate Investment Trust (TSX: TNT.UN) (the \"\n \n REIT\n \n \") is pleased to announce it has completed the sale of two office properties for an aggregate sale price of\n \n $18.0 million\n \n (excluding transaction costs) totaling 70,700 square feet located at 251 Arvin Avenue,\n \n Hamilton, Ontario\n \n (the \"\n \n Arvin Property\n \n \") and 6865 Century Avenue,\n \n Mississauga, Ontario\n \n (the \"\n \n Century Property\n \n \"). In addition,  to the previously announced unconditional sale of 135 Hunter Street East,\n \n Hamilton, Ontario\n \n (the \"\n \n Hunter Property\n \n \") for a sale price of\n \n $6.4 million\n \n that is expected to close on or about\n \n April 22, 2024\n \n , the REIT has entered into an unconditional agreement of purchase and sale to dispose of 9200 Glenlyon Parkway,\n \n Burnaby, British Columbia\n \n (the \"\n \n Glenlyon Property\n \n \") for a sale price of\n \n $37.0 million\n \n that is expected to close on or about\n \n June 27, 2024\n \n . The four dispositions are being sold for an aggregate sale price of\n \n $61.4 million\n \n and is above its initial aggregate purchase...