Burlington, Ontario--(Newsfile Corp. - December 4, 2023) - Tempus Capital Inc. (CSE: TEMP) ("Tempus" or the "Company") is pleased to announce it has invested in a multi family investment property located in Oshawa, Ontario.
Tempus has acquired 240,000 Class A common shares of the corporate entity which owns the multi-family property, for $240,000. The investment represents an ownership interest of approximately 20% of the entity. The Class A common shares contain a provision whereby the holders of the Class A common shares receive a 10% return on invested capital and a return of invested capital in priority to any other class of shares.
"We are very pleased that Tempus Capital is investing in this multi-family sector," said Russell Tanz, Tempus President and CEO. "The Company will have a 10% preferred return on its investment with the potential of increasing its return on its investment from any excess net income and cash flow."
About Tempus
Tempus is a real estate operating company engaged in the acquisition, development, and ownership of income-producing properties in Canada, focusing on strip mall shopping centres, storefront retail, and mixed residential and commercial properties. Tempus is a reporting issuer in British Columbia, Ontario and Alberta.
On behalf of the board of directors
Tempus Capital Inc.
"Russell Tanz"
President and CEO
1-416-446-7898
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