/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S.
NEWSWIRES/
TORONTO,
Aug. 2,
2023 /CNW/ - True North Commercial Real Estate
Investment Trust (TSX: TNT.UN) (the "REIT") is pleased to
announce that it has completed the previously announced sale of a
52,300 square foot office property located at 32071 South Fraser
Way, Abbotsford, British Columbia
(the "Property") for a sale price of $24 million, excluding transaction costs.
The Property is a six-storey office building and
was purchased by the REIT in August
2018. The Property is wholly occupied by Prospera Credit Union as of July 31, 2023. The REIT intends to use the net
proceeds for general trust purposes.
About the REIT
The REIT is an unincorporated, open-ended real
estate investment trust established under the laws of the Province
of Ontario. The REIT currently
owns and operates a portfolio of 44 properties consisting of
approximately 4.8 million square feet in urban and select strategic
secondary markets across Canada.
The REIT is focused on growing its portfolio principally through
acquisitions across Canada and
such other jurisdictions where opportunities exist.
For more information regarding the REIT, please
visit www.sedar.com or the REIT's website
at www.truenorthreit.com.
SOURCE True North Commercial Real Estate Investment Trust