EDMONTON, Feb. 9 /CNW/ - Imperial Equities Inc. (TSX-V:IEI) today announced that it has completed
the purchase of the RuhrPumpen Building at 2887 Parsons Road in
Edmonton, Alberta. The property is located immediately North of the
Edmonton Research Park and South Edmonton Common in the Parsons
Industrial area and is one of the most sought after industrial
locations in Edmonton. The $2.250M purchase price was financed through
existing cash flows and a new conventional mortgage.
Situated on the property is a 12,500 square foot fabrication facility
with multiple Landlord owned cranes. The tenant, RuhrPumpen Inc.
operates in 20 countries around the globe. Ruhrpumpen is an innovative
and efficient centrifugal pump technology company that offers operators
of pump systems a wide range of quality products. They are committed to
worldwide excellence with a complete range of pumps to support core
markets which are oil & gas, chemical, power, industrial applications,
water and mining.
With 99 Street (Parsons Road) being a major North/South thoroughfare and
connecting South to 23rd Avenue, Ellerslie Road and the Queen Elizabeth II, this property is an
exceptional future build to suit development site. "Imperial was
fortunate to acquire a great building with a large presence along 99
Street. This type of property will continue to generate income for our
Company but more importantly it has great future redevelopment
potential." said Sine Chadi, President and CEO of Imperial Equities.
"Imperial continues to aggressively grow its portfolio. In the past
twelve months we have announced investments in the Alberta real estate
market valued at over 15 million dollars," added Chadi.
About Imperial Equities Inc.:
Imperial Equities Inc. is based in Edmonton, Alberta. A diversified
company anchored by commercial and industrial real estate properties in
its targeted Edmonton and Alberta markets. Imperial also distributes
pharmaceutical products to the institutional and retail customers
through its wholly owned subsidiary, Imperial Distributors Canada Inc.
Additional information is available at: www.imperialequities.com
Imperial's common shares are listed on the TSX Venture Exchange under
the symbol IEI.
Neither TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Imperial Equities Inc.
For further information:
Sine Chadi, CEO
Imperial Equities Inc.
Phone: (780) 424-7227