Business & Finance
Business and Finance
Business and Finance
Tue, April 23, 2013
Mon, April 22, 2013 C2C Industrial Properties Inc. Completes Acquisition of Montreal Industrial Warehouse
April 22, 2013 14:25 ET
C2C Industrial Properties Inc. Completes Acquisition of Montreal Industrial Warehouse
TORONTO, ONTARIO--(Marketwired - April 22, 2013) - C2C Industrial Properties Inc. ("C2C" or the "Company") (TSX VENTURE:CCH) announced that it has completed the acquisition of an industrial warehouse and distribution centre located in Longueil, Quebec effective April 19th, 2013. The property contains 222,464 square feet of gross leaseable area on 11.47 acres of land well-located in the Longueil district of greater Montreal. Its location provides excellent access to all Greater Montreal Area markets, as well as to US border crossings. The building is 100% leased to a tenant who has occupied the facility since 1967.
The Company paid $7.5 million for the property, representing a cap rate of approximately 7.5%, excluding due diligence and closing costs. The purchase price was satisfied entirely in cash.
About C2C Industrial Properties Inc.
C2C is a real estate investment corporation specializing in the acquisition, ownership and operation of light industrial properties across Canada. C2C currently owns 25 industrial assets totalling approximately 2.5 million square feet of gross leaseable area. More information about C2C (TSX VENTURE:CCH) is available at [ www.c2cip.com ].
Forward Looking Statements
This document contains forward-looking statements relating to C2C and the industry in which it operates and its strategy, action plans and investments, which may involve estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond C2C's control. Consequently, readers should not place any undue reliance on such forward-looking statements. These forward-looking statements are made as of the date of this press release. C2C is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors, unless otherwise required to do so by applicable law. All forward-looking statements attributable to C2C are expressly qualified by these cautionary statements.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
