Lanesborough Real Estate Investment Trust (LREIT) announced that it has entered into an unconditional agreement to sell a 102-suite apartment property in Moose Jaw, Saskatchewan, known as Woodlily Court for $6.6 million. The sale is expected to result in net cash to LREIT of approximately $3.2 million, after expenses, closing adjustments and the repayment of approximately $3.3 million (including defeasance costs) of first mortgage debt. The property was acquired by LREIT in June 2006 for $3.7 million.
The sale is scheduled to close by September 1, 2010. LREIT will use the net cash from the sale to repay debt.
on July 8, 2010
The Square foot attended the conference and gathered comments form Manon Parisien, ICSC Québec Provincial Director & Vice President, National Leasing, Eastern Canada Portfolio at Cadillac Fairview Corporation
At a recent European franchise show, The Square Foot interviewed the president of lingerie franchise Soleil Sucré, Mr. Dan Suissa who is looking at the North American market to expand his product line.
He generously shares his thoughts on the event, the market and offers key insight on cross border transactions.
Commercial real estate resources.
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