Whiterock acquires commercial complex in Mississauga, Ontario Daily Commercial News
26.08.11
September 1, 2011
Whiterock acquires commercial complex in Mississauga, Ontario
Whiterock Real Estate Investment Trust (TSX: WRK.UN) announced Friday it has purchased a 170,805-square-foot office complex in Mississauga, Ontario near Toronto-Lester B. Pearson International Airport.
Airport Road Complex has a five-storey and a seven-storey office building on 4.6 acres of property, with 533 parking spots. The price, not including closing cost, was $31.5 million.
Tenants of Airport Road Complex include Merge OEM, The Second Cup, Teradata, G&K Services and the Air Canada Pilots Association.
Whiterock has also raised cash by three different methods. It increased its credit facility with Toronto-Dominion Bank from $20 to $35 million and reduced the interest rate by 0.88 percentage points. It also issued $10 million worth of unsecured non-convertible debentures (with an interest rate of 5.95
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