Primecorp Commercial Realty Completes One of Canada's First Major Multi-Family Transactions of 2008

    OTTAWA, Jan. 11 /CNW Telbec/ - Primecorp Commercial Realty Inc. is
pleased to announce that it, acting as exclusive Advisor, facilitated the sale
of a landmark luxury apartment property located at 129 Wellington Street in
Brantford, Ontario.
    The property, a high quality downtown asset, is comprised of a 17 storey,
129 unit, high-rise multi-family tower and was purchased for a price of
$9.25 Million by Homestead Land Holdings Limited, one of Canada's largest
privately held multi-family companies. This acquisition demonstrates continued
demand by investors to acquire strategically located investment assets within
the Canadian market. The transaction was led by Primecorp's Multi-Residential
Investment Group, Aik Aliferis and Sam Firestone, and marks a major
transaction for multi-residential type property in the Brantford and southern
Ontario region.
    This transaction exhibits Primecorp's continued dominance in the
brokerage of sophisticated investment transactions in the Canadian Real Estate
market. Primecorp has been involved in the sale of over 20,000
multi-residential units since its inception in 1998, with nearly 4,300 units
sold in the last 12 months, and total transactions for 2007 exceeding C$375
Million. Primecorp is expected to close over $100 million in transactions by
the end of the first quarter of 2008.
    "Strategic Multi-residential Investment opportunities are still available
in these aggressive and competitive markets", says Firestone. He adds, "We are
very proud of the fact that we can execute major investment transactions in
multiple markets...our hard work has really paid off". Aliferis closes by
saying, "Primecorp has now become one of Canada's leading Investment Realty

    Primecorp, led by its four founding partners, Sam Firestone, Aik
Aliferis, Steve Lerner, and Nicolas Pantieras, is a strategically focused
Commercial Real Estate Investment Brokerage, Management and Advisory Firm. The
firm has completed in excess of C$2 Billion in Real Estate transactions with
private and institutional investors, public corporations, REITS and
international investment groups in over 30 Canadian cities.

For further information:

For further information: Aik Aliferis, Media Relations, 1-888-720-2020

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