RICHMOND, BC, Sept. 25, 2014 /CNW/ - Huntingdon Capital Corp. (the "Corporation" or "Huntingdon") (TSX: HNT,TSX: HNT.DB andTSX: HNT.WT) announced today that it has closed the sale of Cumbria Centre, a two-level 21,886 sf strip retail centre located in Spruce Grove, Alberta. The gross sale proceeds are $1.9 million before closing costs.
Cumbria Centre is 66% occupied and had a fair value, determined under International Financial Reporting Standards, of $1.2 million. After closing costs and the repayment of mortgage debt, the net cash proceeds are estimated to be $1.2 million.
Huntingdon is a real estate operating company listed on the TSX (Common Shares: HNT; Debentures: HNT.DB; Warrants: HNT.WT). Huntingdon owns and manages a portfolio of 24 industrial, office, retail and aviation-related properties throughout Canada that have a total gross leasable area of 1.9 million square feet. In addition, Huntingdon owns a 30.5% interest in FAM REIT (TSX: F.UN) (TSX: F.WT) and manages, on behalf of FAM REIT, a portfolio of 28 industrial, office, and retail properties throughout Canada that have a gross leasable area of 1.8 million square feet.
The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE: Huntingdon Capital Corp.
For further information: Sandeep Manak, President and Chief Executive Officer, Tel: (604) 249-5113, Fax: (604) 249-5101, Email: [email protected]