TSX:MPCT.DB - Post by User
Post by
Predator2018on May 10, 2024 1:14pm
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Post# 36033933
Asset Sales of $30 Million plus more sales coming
Asset Sales of $30 Million plus more sales coming
In the first quarter, the Trust launched a sales process for two commercial properties located in downtown Toronto. Subsequent to quarter end, the Trust entered into an agreement to sell 10 Lower Spadina and are in advanced discussions for the disposition of 349 Carlaw. Through these asset sales, the Trust is reducing its commercial asset class exposure by 95,000 square feet ("sf") and is expected to generate gross proceeds in excess of $30.0 million upon close that would support the Trust's ongoing liquidity needs.