Centrefund Acquires Major Shopping Centre in Edmonton.TORONTO--(BUSINESS WIRE)--June 7, 1996--Centrefund Realty Corp. (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 ) announced today that it has completed the purchase of South Park Village, a 387,000 square foot shopping centre in Edmonton, Alberta. This high profile property is anchored by Safeway, Canadian Tire Canadian Tire (TSX: CTC, CTC.A) is one of Canada's 35 largest publicly traded companies and operates an inter-related network of businesses engaged in retailing (hardgoods, apparel and petroleum) and services (financial and automotive). , Zellers, Toys R Us and Office Depot. "The property has the potential for enhanced returns through the leasing of 30,000 square feet of currently available space and the utilization of up to 40,000 square feet of expansion potential," 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, said. "Based on our preliminary leasing efforts, we are confident that our return on equity will be in the mid-teens," he noted. Centrefund is engaged in the acquisition and ownership of neighborhood and community shopping centres in Canada and United States and owns 23 properties containing approximately 4 million 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. . Since its initial public offering in March of 1994, Centrefund has grown its shopping centre portfolio more than fourfold. CONTACT: Centrefund Realty Corp. Peter F. Cohen, C.A., 416/515-1400 |
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