OTCQX:PMULF - Post by User
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TimeBuilderon Jul 10, 2017 4:43pm
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Deal closes NR
Deal closes NRCopy...now we go forward !!!!!! Pure Multi-Family REIT LP Secures US$23.75 Million Mortgage Financing
Monday, July 10, 2017
Pure Multi-Family REIT LP Secures US$23.75 Million Mortgage Financing
16:03 EDT Monday, July 10, 2017
VANCOUVER, BC --(Marketwired - July 10, 2017) - Pure Multi-Family REIT LP ("Pure Multi-Family") (TSX VENTURE: RUF.U)(TSX VENTURE: RUF.UN)(TSX VENTURE: RUF.DB.U)(OTCQX: PMULF) today announced that it has successfully closed on a US$23.75 million new first mortgage financing on the previously completed acquisition of Pinnacle at Union Hills ("Pinnacle"), a multi-family apartment community located in North Phoenix, Arizona.
Pure Multi-Family had previously fully funded the US$47.5 million acquisition of Pinnacle using proceeds from the equity offering which closed on April 7, 2017.
The new first mortgage financing bears a fixed interest rate of 3.32% per annum for a term of seven years.
Pure Multi-Family's portfolio consists of 19 multi-family properties comprising an aggregate of 6,209 residential units, situated on 328 acres of land.