Fronsac REIT Announces A Joint Venture Development With Odacite Immobilier
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 06/01/17 -- Fronsac Real Estate Investment Trust ("Fronsac REIT" or "Fronsac") (TSX VENTURE: GAZ.UN) is pleased to announce plans to develop a free-standing Benny & Co restaurant in partnership with the development firm Odacite Immobilier in Cap Rouge, Quebec. The land, which was acquired on May 30th 2017, is strategically located along Jules-Verne Avenue, an exit on Highway 40 and one of the principal entry points to Cap Rouge. The development will be a 50/50 joint venture between Fronsac and Odacite. Project costs are expected to total approximately $2,000,000 with plans to deliver to our tenant before year-end.
About Fronsac - Fronsac Real Estate Investment Trust is an open-ended trust that acquires and owns high quality commercial real estate properties situated along highways or frequently travelled routes.
About Odacite - Odacite is a commercial real estate management and development firm. Its services encompass land prospection, strategic planning, development and management.
Forward-Looking Statements - This press release contains forward-looking statements and information as defined by applicable securities laws. 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 intend or undertake to 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.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.
Contacts:
Fronsac Real Estate Investment Trust
Jason Parravano
(450) 536-5328
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Datum: 01.06.2017 - 09:27 Uhr
Sprache: Deutsch
News-ID 1507105
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Venture Capital
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