The complex is comprised of two industrial buildings, aggregating 99,000 square feet, and was acquired for a purchase price of
The Company will hold a 40% interest and its joint venture partners,
“We are very excited to be once working with Takol,” noted
The existing rent roll allows for the renovation and turnover of units into condominiums while still collecting rental revenue from the tenants whose leases have term left. The purchase, which equates to approximately
ABOUT
The Company’s focus is to identify, evaluate and invest in real estate or real estate related projects. The Company’s assets are located in
ABOUT TAKOL REAL ESTATE INC.
Takol is a Canadian private equity company specializing in commercial real estate investment, development and re-development with national market expertise. The company is currently working on other opportunities in
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements, which reflect Management's expectations regarding the Company's growth, results of operations, performance and business prospects and opportunities. Statements about the acquisition, renovation, condominium conversion, and sale, of the complex in
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including: general economic and market segment conditions, interest rates, costs outside of the Company's control such as real estate taxes and utilities, the ability of tenants to satisfy their contractual rent obligations and any unforeseen repair, maintenance or replacement of the Company's assets.
More detailed assessment of the risks that could cause actual results to materially differ from current expectations is contained in the “Risks and Uncertainties” section of the Company's most recent Management's Discussion and Analysis dated
For further information please contact:
President & CEO
(416) 703-1877 x2025
Neither the
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