/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S.
NEWSWIRES/
TORONTO, July 10,
2023 /CNW/ - True North Commercial Real Estate
Investment Trust (TSX: TNT.UN) (the "REIT") is pleased to
announce it has completed the previously announced sale of a
recently vacated 107,100 square feet office property located at 360
Laurier Avenue West, Ottawa,
Ontario (the "Ottawa Property") for a sale price of
$17.5 million, excluding transaction
costs.
The Ottawa Property is an eleven-storey office building located
in Ottawa and was purchased by the
REIT in February 2019. The Ottawa
Property is 97% vacant as of July 10,
2023. The REIT intends to use the net proceeds for general
trust purposes.
About the REIT
The REIT is an unincorporated, open-ended real estate investment
trust established under the laws of the Province of Ontario. The REIT currently owns and operates
a portfolio of 45 properties consisting of approximately 4.8
million square feet in urban and select strategic secondary markets
across Canada. The REIT is focused
on growing its portfolio principally through acquisitions across
Canada and such other
jurisdictions where opportunities exist.
For more information regarding the REIT, please visit
www.sedar.com or the REIT's website at
www.truenorthreit.com.
SOURCE True North Commercial Real Estate Investment Trust