Completes Acquisition of Ottawa Property Toronto, Ontario--(Newsfile Corp. - October 6, 2021) - PARKIT ENTERPRISE INC. (TSXV: PKT) ("Parkit") is pleased to announce that, further to its August 25, 2021 press release, it has completed the acquisition of a class A industrial property in Ottawa.
Acquisition of Ottawa Property
Parkit acquired 1151 Parisien St, Ottawa (the "Property") for an aggregate purchase price of $13,250,000 (the "Acquisition"). The Property is approximately 75,000 square feet of multi-tenanted light industrial space on approximately 4 acres of land.
Steven Scott, the Chair of Parkit, stated, "The Acquisition adds another urban industrial property with strong cash flows in the growing Ottawa market."
Purchase Price and Payment
The purchase of the Property for $13,250,000, subject to standard adjustments, and was satisfied through funds on hand.
About Parkit Enterprise Inc.
Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key markets in Canada, with a focus on the Greater Toronto Area+ ("GTA+"), Ottawa and Montreal, to complement its parking assets across the United States. Parkit's Common Shares are listed on TSX Venture Exchange (Symbol: PKT).
https://www.newsfilecorp.com/release/98836