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PROREIT Completes Acquisition of Four Winnipeg Industrial Properties for $21.7M
PROREIT has completed its previously announced acquisition of four industrial properties in Winnipeg for $21.7 million.
The purchase price exclude closing costs. The four properties total 164,872 square feet. PROREIT funded the acquisition through a new eight-year fixed-rate mortgage financing of approximately $14.1 million bearing interest at 4.95%, and approximately $7.6 million of cash from the net proceeds from a $107.3 equity financing completed in June.
The four properties’ addresses are:
- 1249 Clarence Avenue and 1253 Clarence Avenue (70,655 sf)
- 1431 Church Avenue and 35 Milner Street (51,497 sf)
- 120-144 Bannister Road (32,000 sf)
- 530-538 Berry Street (10,720 sf)
Based in Montreal, PROREIT owns and operates properties in primary and secondary markets across Canada.
Pictured: Winnipeg.
Photo: Shutterstock
- ◦Sale/Acquisition