Fronsac Reit Announces the Acquisition of a 50% Interest in a Real Estate Project Located in Louiseville, Quebec
(firmenpresse) - SAINT-JEAN-BAPTISTE, QUEBEC -- (Marketwired) -- 11/28/13 -- Fronsac REIT (TSX VENTURE: GAZ.UN) ("Fronsac") announces the acquisition of a 50% interest in a real estate project located in Louiseville, Quebec .
The project is located at Exit 174 of Highway 40. This site is an ideal location at the intersection of the highway exit and Boulevard St- Laurent which leads to downtown Louiseville. The land has an area of approximately 120,000 square feet.
Total investments represent nearly 3 million dollars and construction work should be completed in the coming weeks. A major gas station banner and a major fast food chain will offer their food and services to consumers.
There remains an area of approximately 160,000 square of land to be developped on the site for which Fronsac has an option to acquire 50% of the subsequent development phases.
"We are pleased to announce this acquisition in a real estate project of high quality along Highway 40 in Louiseville . This acquisition meets the criteria of profitability and investment established by Fronsac's management, said Michel Lassonde, President and CEO of Fronsac. "
ABOUT FRONSAC
Fronsac Real Estate Investment Trust is an open-ended trust that acquires and owns high quality commercial real estate properties, rented to strong tenants under long term, management free and net leases.
Forward-Looking Statements
This press release contains forward-looking statements and information as defined by applicable securities laws, including statements relating to Fronsac and expectations of the management regarding a proposed transaction and the expected benefits thereof. There is no assurance that the proposed transaction will be carried out and that the anticipated benefits will materialize. The proposed transaction is subject to approval and consent of stakeholders and there is no certainty that these will be achieved. Fronsac warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Fronsac with securities regulators, including the management report. Fronsac does not update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority.
The TSX Venture Exchange and its regulatory service provider (as that term is defined in the policies of the TSX Venture Exchange) decline all responsibility for the adequacy or accuracy of this release.
Contacts:
Michel Lassonde
President and CEO
Fronsac Real Estate Investment Trust
(450) 536-5328
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Datum: 28.11.2013 - 12:55 Uhr
Sprache: Deutsch
News-ID 1287779
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