True North Business Actual Property Funding Believe Closes Acquisition

TORONTO, Aug. 22, 2022 /CNW/ – True North Business Actual Property Funding Believe (TSX: TNT.UN) (the “REIT“) is happy to announce it has closed the prior to now introduced acquisition of a Federal govt tenanted place of job assets positioned at 400 Cumberland Boulevard, Ottawa, Ontario (the “Ottawa Belongings“) and the renewal of its revolving credit score facility. The purchase of the Ottawa Belongings continues the REIT’s technique of increasing into city places and lets in the REIT to capitalize operational efficiencies with its present property in downtown Ottawa. Renewal of the credit score facility for a two-year time period maturing on December 1, 2024 comprises an building up from $60 million to $68 million, with the extra $8 million expiring on June 30, 2023 to align with the sale of 32071 South Fraser Manner, Abbotsford, British Columbia.

The acquisition value of the Ottawa Belongings is $40.5 million, unique of final prices. The purchase was once glad via a mix of first loan financing of roughly $30.4 million and the REIT’s secured credit score facility.

For more info in regards to the REIT, please consult with www.sedar.com or the REIT’s website online at www.truenorthreit.com.

SOURCE True North Business Actual Property Funding Believe

For additional data: Daniel Drimmer, Leader Govt Officer, (416) 234-8444; or Tracy Sherren, President and Leader Monetary Officer, (416) 234-8444