True North Commercial REIT to buy four Halifax properties for $53 million

True North Commercial REIT to buy four Halifax properties for $53 million

TORONTO — True North Commercial Real Estate Investment Trust says it has agreed to buy four office buildings in Halifax for about $53 million.

The properties house about 27,700 square metres of rentable space with 1,277 parking stalls.

True North Commercial says it will finance the deal with mortgage financing of approximately $34.5 million and cash on hand.

The Toronto-based firm says the deal is expected to close on or about Dec. 19.

 

The Canadian Press

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