CENTREFUND REALTY CORPORATION ANNOUNCED THE ACQUISITION OF NORTH AMERICAN REALTY.TORONTO, ONTARIO--(BUSINESS WIRE)--DECEMBER 16, 1994--CENTREFUND REALTY (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CFE CFE Conventional Forces in Europe (treaty) CFE Cash Flow to Equity (finance/accounting) CFE Comisión Federal de Electricidad (México) CFE Certified Fraud Examiner ) Centrefund Realty Corporation announced today that the acquisition of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Realty Corporation was approved at a special meeting of shareholders and the transaction is scheduled for closing on December 30, 1994. North American Realty Corporation owns six shopping centres located in the State of Florida containing 630,000 square feet of gross leasable area Gross leasable area (GLA) in the retail development industry is a term applied to shopping malls, lifestyle centers, outlet malls and other retail centers to indicate the amount of floor space available to be rented. . The equity component of the acquisition will be satisfied by the issue of 1,264,000 Centrefund common shares at $10 per share and $12,640,000 in 7-1/2 percent debentures convertible into common shares at $11 per share. The yield on Centrefund's participating debentures and distributable income per common share is forecast to improve in 1995 as a result of the North American acquisition. The acquisition will both expand and diversify Centrefund's portfolio and provide the company with a significant presence in the United States. The North American transaction will grow the company's shopping centre assets to in excess of $200 million, more than doubling the company's portfolio in the nine months since the closing of its Initial Public Offering. Centrefund is engaged in the acquisition and ownership of retail shopping centres and with the completion of the above noted acquisition will own 12 shopping centres containing 1,855,000 square feet of gross leasable area located in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . CONTACT: Peter F. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male.
President and Chief Executive Officer
(416) 515-1400
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