DEAL | Melcor REIT (TSX:MR.UN) completed the sale of Kelowna Business Centre at 1634 Harvey Ave. on Feb. 1. for $19.5 million (excluding closing costs), or $272.24 per sq. ft. The three-storey building’s gross leasable area totals 71,600 sq. ft. on a 2.8-acre site. “We bought Kelowna Business Centre in conjunction with the REIT’s initial public offering in May 2013 and sold it for a premium to our purchase price. The property was cash flow positive while held by the REIT,” Melcor CEO Andrew Melton noted.
PRICE | $19.5 million
FROM |Melcor REIT
