BRIEF-True North Commercial to acquire Century Property

Tue Jul 5, 2016 9:04am EDT
 
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July 5 (Reuters) - True North Commercial Real Estate Investment Trust

* True North Commercial Real Estate Investment trust continues expansion in the greater toronto area acquiring an additional 100,000 square feet and a concurrent $9.25 million private placement

* Private placemen of a 1.5 million units at a price of $5.85 per unit

* Non-Brokered private placement of 42,735 units at a price of $5.85 per unit

* Acquisition of century property is expected to be accretive to FFO, AFFO per trust unit of REIT

* Purchase price for century property is $13.4 million

* Private placement to satisfy cash portion of purchase price for century property and Mississauga property Source text for Eikon: Further company coverage: )