/R E P E A T -- PRIMECORP CLOSES OUT SECOND QUARTER WITH $100 MILLION IN TRANSACTIONS/

OTTAWA, June 13, 2011 /CNW/ - Primecorp Commercial Realty Inc., announced today that its National Investment Team has completed three major transactions in the Province of Ontario with an aggregate value of approximately $100 Million. The sales include:

Toronto Apartment Portfolio - 315 Suites
Transglobe Investment Management closed on a 315-suite portfolio on June 1st, 2011.  Formerly owned by Hampton-Metrix the portfolio is comprised of five residential properties located at 2402 & 2406 Queen St. E., 1065 Eglinton Ave. W., 5 Hartham Place and 2180 & 2190 Weston Rd. in Toronto and 206 - 212 Lakeshore Rd. E. & 8 Oakwood Ave. N. in Mississauga.

Daniel Drimmer, President at TransGlobe says "The Hampton-Metrix acquisition was a very complicated deal to complete. With the help and involvement of such an experienced team in Sam Firestone and Aik Aliferis we were able to professionally and expeditiously overcome all the issues that in the end led to a smooth transaction. It is a genuine pleasure to be dealing with such an experienced brokerage team in Primecorp"

Alex Henry, President at Hampton-Metrix Capital Partners Inc. says "We were extremely pleased with the outcome of this transaction. Primecorp's dedication and professionalism was critical to our success. We are grateful and thankful for all they did".

180,689 SF Commercial Asset located at 1165 Kenaston Street
Representing their first acquisition in Ottawa, Artis Reit closed on the property consisting of a 180,689 square foot industrial building and two-storey office complex located in Ottawa, Ontario. Formerly owned by KingSett Capital, the property has excellent access to the City's downtown core and Highway 417. The building is 100% leased to St. Joseph Communications on a long-term lease.

Joseph Mazzocco, Vice President of Acquisitions at KingSett Capital Inc. says "Primecorp was instrumental in the sale of 1165 Kenaston on behalf of KingSett Capital. Aik Aliferis and his National Investment team at Primecorp delivered strong results through their professionalism, creative and expertise".

Southern Ontario Apartment Portfolio - 819 Suites
Timbercreek Asset Management closed on this portfolio on June 8th, 2011.  Formerly owned by Homestead Land Holdings the portfolio is com-prised of 50, 66 & 80 Mooregate Crescent in Kitchener and 24, 26 & 28 Helen Avenue in Brantford.

Timbercreek's CFA, Ugo Bizzarri says "Primecorp was a key conduit in showing us how these assets were a fit for our firm and our growth requirements.  Primecorp's understanding of the market and the transaction process brought the deal to a successful completion".

Homestead's CEO, Alf Hendry says "The sale of these assets was strategic to the long term growth of our Company. Primecorp was able to present us with a proposal from Timbercreek Management that made sense for both parties and Primecorp's expertise played an integral role in our final decision to dispose of these assets".

In addition to the closed transactions, Primecorp is currently in the market or under contract with an additional $232,000,000 of Investment Assets.

Primecorp's current available investment opportunities include:

  1. A suburban office complex comprising of five buildings/132,000 square feet in Ottawa (Kanata), Ontario. The Property is currently 100% occupied by five tenants. The Property has benefited from institutional management.

  2. A 490-unit multi-family portfolio in Gatineau (Aylmer), Québec. The Portfolio boasts a well balanced suite mix and is close to many amenities with easy access to Ottawa's downtown core. The Property has benefited from institutional management.

  3. A 60-unit multi-family building in Mississauga, Ontario. The Building is 100% occupied and boasts an excellent location near Dundas Street West just minutes from the Trillium Health Centre.

With a strategic focus on Commercial Real Estate Investment Brokerage and Management, Primecorp has completed in excess of C$3.6 billion dollars in Real Estate transactions in over 46 Canadian markets since its inception in 1998. Clients have included Private and Institutional Investors, Public Corporations, REITS and International Investment Groups.

Image with caption: "Toronto Apartment Portfolio - 315 Suites - Transglobe Investment Management closed on a 315-suite portfolio on June 1st, 2011. Formerly owned by Hampton-Metrix the portfolio is comprised of five residential properties located at 2402 & 2406 Queen St. E., 1065 Eglinton Ave. W., 5 Hartham Place and 2180 & 2190 Weston Rd. in Toronto and 206 - 212 Lakeshore Rd. E. & 8 Oakwood Ave. N. in Mississauga. (CNW Group/PRIMECORP COMMERCIAL REALTY INC.)". Image available at: http://photos.newswire.ca/images/download/20110614_C5624_PHOTO_EN_01.jpg

Image with caption: "180,689 SF Commercial Asset located at 1165 Kenaston Street - Representing their first acquisition in Ottawa, Artis Reit closed on the property consisting of a 180,689 square foot industrial building and two-storey office complex located in Ottawa, Ontario. Formerly owned by KingSett Capital, the property has excellent access to the City's downtown core and Highway 417. The building is 100% leased to St. Joseph Communications on a long-term lease. (CNW Group/PRIMECORP COMMERCIAL REALTY INC.)". Image available at: http://photos.newswire.ca/images/download/20110614_C5624_PHOTO_EN_02.jpg

Image with caption: "Southern Ontario Apartment Portfolio - 819 Suites Timbercreek Asset Management closed on this portfolio on June 8th, 2011. Formerly owned by Homestead Land Holdings the portfolio is com-prised of 50, 66 & 80 Mooregate Crescent in Kitchener and 24, 26 & 28 Helen Avenue in Brantford. (CNW Group/PRIMECORP COMMERCIAL REALTY INC.)". Image available at: http://photos.newswire.ca/images/download/20110614_C5624_PHOTO_EN_03.jpg

SOURCE PRIMECORP COMMERCIAL REALTY INC.

For further information:

on these assets please feel free to contact:

Aik Aliferis / Principal Sam Firestone / Principal
(613) 724-9242 (613) 614-6434
aaliferis@primecorp.ca sfirestone@primecorp.ca
   
Nick Pantieras / Principal          Steve Lerner / Principal
(613) 722-2020 ext. 228 (613) 722-2020 ext. 230
nick@primecorp.ca slerner@primecorp.ca

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PRIMECORP COMMERCIAL REALTY INC.

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