Homburg Invest Sells Properties in Calgary to Homburg Canada REIT

Homburg Invest Inc. (HII) announced that it has sold the properties municipally known as 100 Centron Park located at 3600 4 St. SE in Calgary, Alberta and 200 and 300 Centron Park located at 4000 4 St. SE in Calgary, Alberta, to Homburg Canada Real Estate Investment Trust (HCR) for a total consideration of $39.7 million payable in cash.

Proceeds of the sale will be used to make an interest payment on long-term debt; to fund a guarantee of future head lease rents to the buyer; to complete previously agreed upon tenant leasehold improvements and to pay down bank debt.

HII has also granted HCR an option to acquire, if and when constructed, buildings that will be municipally known as 400, 500, 600 and 700 Centron Park, as well as the lands upon which these buildings are intended to be erected.

on June 28, 2011