CALGARY, April 9 /CNW/ - The Company is pleased to announce the following strategic acquisitions which total approximately $45,000,000 and have closed during the first quarter:
- The purchase of a 50% interest in 474 acres of land in the south west part of Edmonton. These lands include a championship golf course in the south west part of Edmonton known as Jagare Ridge. The course has been operating since 2002 and has 12 holes located in the Whitemud Creek Valley; - The purchase of a 50% interest in 157 acres of industrial lands in the County of Red Deer located just south of the City of Red Deer; - The purchase of 160 acres of residential lands in west Lethbridge; - The purchase of 77 acres of residential lands in the City of Airdrie; - The purchase of a 60% interest in 160 acres of lands in the City of Airdrie that were previously under option and adjacent to a community called Kings Heights which is currently under development by the Company; and - The purchase of a 42,800 square foot office building in Regina, Saskatchewan. Subsequent to the first quarter, the company has made the following acquisitions: - The purchase of 686 acres of land in the RM of Sherwood which is immediately adjacent to the City of Regina, Saskatchewan; and - The purchase of 73 acres of land in the County of Red Deer which is located adjacent to the City of Red Deer. Further, the company has the following unconditional purchases which are scheduled to close during the second quarter: - The purchase of a 50% interest in 123 acres in the Town of Lacombe, Alberta; - The purchase of 77 acres in the City of St. Albert, Alberta; and - The purchase of a 29,000 square foot office building in Kelowna, British Columbia.
The Company expects to release the first quarter results at the close of markets on May 7, 2007.