Centrefund to Purchase Major Shopping Centre in Edmonton.TORONTO--(BUSINESS WIRE)--April 29, 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 ) Centrefund Realty Corporation, announced today that it has entered into a conditional contract to purchase South Park Village a 387,000 square foot shopping centre in Edmonton, Alberta. "This high profile property, which is one of the strongest centres in its market, is anchored by Safeway, Canadian Tire, Zellers, Toys R Us and Office Depot," 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. "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," he noted. The transaction is scheduled to close effective April 30, 1996. Centrefund is engaged in the acquisition and ownership of neighborhood and community shopping centres 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. and upon completion of the South Park Village purchase will own 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 Corporation Peter F. Cohen, C.A., 416/515-1400,416/515-1401 (Fax) |
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