EDMONTON, June 26, 2019 /CNW/ - Imperial Equities Inc.
("Imperial") today has announced it has completed the Purchase of
the Rocky Mountain Equipment Building located 6425 – 55 Avenue,
Vegreville, Alberta. The
transaction, which closed on June 21,
2019 between 1456253 Alberta Ltd. and Imperial, is in the
amount of $2,550,000.00 and is
Imperial's second property to be included in its newly established
agricultural (AG) division.
The 5.89-acre industrial property comprises four buildings,
including a main building facility and three ancillary buildings
for a cumulative total of 33,295 ft2. The property
serves as a regional sales and service centre for Rocky Mountain
Equipment, the largest independent dealer of Case IH and Case
Construction equipment in Canada
and the second largest in the world.
"This transaction demonstrates our commitment to the creation
and development of the new AG division within our portfolio of real
estate properties. Assets in this division would consist of
properties that cater to the agricultural industry, such as farm
implement dealerships, while continuing to maintain Imperial's
tenant base primarily national or international in scope," said
Sine Chadi, President and CEO of Imperial.
About Imperial Equities Inc.:
Based in Edmonton, Alberta,
Imperial Equities Inc. is a publicly traded company anchored by
commercial and industrial real estate properties in its targeted
Edmonton and Alberta markets. Additional information
is available at: www.imperialequities.com. Imperial's common
shares are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Imperial Equities Inc.