EDMONTON, June 26, 2019 /CNW/ - Imperial Equities Inc. ("Imperial") today has announced it has completed the Purchase of the Rocky Mountain Equipment Building located 6425 – 55 Avenue, Vegreville, Alberta. The transaction, which closed on June 21, 2019 between 1456253 Alberta Ltd. and Imperial, is in the amount of $2,550,000.00 and is Imperial's second property to be included in its newly established agricultural (AG) division.
The 5.89-acre industrial property comprises four buildings, including a main building facility and three ancillary buildings for a cumulative total of 33,295 ft2. The property serves as a regional sales and service centre for Rocky Mountain Equipment, the largest independent dealer of Case IH and Case Construction equipment in Canada and the second largest in the world.
"This transaction demonstrates our commitment to the creation and development of the new AG division within our portfolio of real estate properties. Assets in this division would consist of properties that cater to the agricultural industry, such as farm implement dealerships, while continuing to maintain Imperial's tenant base primarily national or international in scope," said Sine Chadi, President and CEO of Imperial.
About Imperial Equities Inc.:
Based in Edmonton, Alberta, Imperial Equities Inc. is a publicly traded company anchored by commercial and industrial real estate properties in its targeted Edmonton and Alberta markets. Additional information is available at: www.imperialequities.com. Imperial's common shares are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE Imperial Equities Inc.
For further information: Editorial Contact: Sine Chadi, CEO, Imperial Equities Inc., Phone: 780 424-7227, Email: [email protected]