Shares issued: Class A - 144,076,448 Class B - 31,514,782
HALIFAX, Aug. 9 /CNW/ - (TSX: HII.A & HII.B and AEX:HII ) - Homburg
Invest Inc. ("Homburg Invest" or the "Company") announces the acquisition of
Plaza de la Mauricie and Galleries Shawinigan both in Shawinigan, Quebec,
Canada. Plaza de la Mauricie is a 195,221 square foot enclosed community
shopping centre and Galleries Shawinigan is an adjacent 23,548 square foot
strip mall. The acquisition also includes 9.06 acres of land for future
The purchase price of $32.5 million plus closing costs was financed
through the assumption of debt of approximately $14.5 million, the issuance of
1,254,480 Class A Subordinate Voting Shares valued at $7 million and the
remainder being paid in cash.
Plaza de la Mauricie, situated on 14.78 acres of land, is anchored by a
new 37,800 Super C Food Store, 33,571 square foot Hart Department Store, and a
16,460 square foot Pharmaprix (Shoppers Drug Mart). A 39,456 square foot
Business Depot is attached to Plaza de la Mauricie, but is owned by Canadian
Tire Corporation. The property currently has 53 tenants providing a broad
tenant mix including fashion, service, specialty outlets and the Royal Bank of
Canada that are well positioned to serve the fashion and service needs of the
community. Parking for approximately 1,250 automobiles is provided.
Galleries Shawinigan is located on 2.34 acres of land and provides
parking for approximately 150 automobiles.
Homburg Invest, with its head office in Halifax, Nova Scotia, owns and
develops a diversified portfolio of quality real estate including office,
retail, industrial and residential apartment and townhouse properties
throughout Canada, the United States and Europe.
Toronto Stock Exchange has neither approved nor disapproved of the
information contained herein.
For further information:
For further information: Mr. Richard Homburg, Chairman and CEO, (902)
468-3395; Mr. Michael Arnold, CA, Vice Chairman, (902) 566-1153; For
information on Homburg Invest Inc., visit our website at