Retrocom Mid-Market REIT announces waiving of conditions on previously announced sale of Driftwood Mall, Courtenay, BC



    /NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY NON-CANADIAN
    

SOURCE/ TORONTO, June 1 /CNW/ - (TSX - RMM.UN) - Retrocom Mid-Market Real Estate Investment Trust (the "REIT") announced today that conditions have been waived by the Purchaser on the sale of Driftwood Mall, Courtenay, BC. The scheduled closing date for this transaction is June 27, 2007. Proceeds will be used to pay down debt, reinvest into the REIT's portfolio, and possibly to buy back units as per the REIT's approved normal course issuer bid. Retrocom Mid-Market REIT is an Ontario unincorporated open-end real estate investment trust that focuses on owning and acquiring mid-market commercial properties in primary and secondary cities across Canada with the objective of producing a geographically diversified portfolio of properties with stable and growing cash flows. This press release shall not constitute an offer to sell or the solicitation of an offer to buy Units of the REIT, which may be made only by means of a prospectus, nor shall there be any sale of the Units in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state, province or other jurisdiction. The Units of the REIT have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or an application for exemption from the registration requirements of U.S. securities laws. Certain statements contained in this news release may include forward-looking information with respect to Retrocom Mid-Market Real Estate Investment Trust's operations and future financial results. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, availability of resources, competitive pressures, changes in market activity and regulatory requirements. Further information can be found in the disclosure documents filed by Retrocom Mid-Market Real Estate Investment Trust with the securities regulatory authorities, available at www.sedar.com.

For further information:

For further information: David Fiume, Chief Executive Officer, Retrocom
Mid-Market REIT, Tel: (416) 741-7999, Fax: (416) 741-7993

Organization Profile

Retrocom Mid-Market Real Estate Investment Trust

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890