Parkit Completes Acquisition of Industrial Asset in Ottawa
Parkit Enterprise (TSXV: PKT) has completed the acquisition of an industrial property at 1650 Comstock Rd, Ottawa, for $9.5 million. The acquired asset features a 140,000 square foot building situated on 2.8 acres of land. The property is currently tenanted and strategically located near Parkit's existing assets. The purchase is being financed through a combination of a first mortgage and available cash reserves. The acquisition aims to strengthen Parkit's Ottawa portfolio while providing strong cash flows and potential rental growth opportunities.
Parkit Enterprise (TSXV: PKT) ha completato l'acquisizione di un immobile industriale situato al 1650 Comstock Rd, Ottawa, per 9,5 milioni di dollari. L'asset acquisito presenta un edificio di 140.000 piedi quadrati situato su 2,8 acri di terreno. Attualmente, la proprietà è affittata e si trova in una posizione strategica vicino agli asset esistenti di Parkit. L'acquisto viene finanziato tramite una combinazione di un primo mutuo e riserve di liquidità disponibili. L'acquisizione ha l'obiettivo di rafforzare il portafoglio di Parkit a Ottawa, offrendo al contempo flussi di cassa solidi e opportunità di crescita degli affitti.
Parkit Enterprise (TSXV: PKT) ha completado la adquisición de una propiedad industrial en 1650 Comstock Rd, Ottawa, por 9,5 millones de dólares. El activo adquirido cuenta con un edificio de 140,000 pies cuadrados situado en 2.8 acres de terreno. La propiedad está actualmente arrendada y se encuentra estratégicamente ubicada cerca de los activos existentes de Parkit. La compra se está financiando a través de una combinación de una primera hipoteca y reservas de efectivo disponibles. La adquisición tiene como objetivo fortalecer el portafolio de Parkit en Ottawa, al mismo tiempo que proporciona flujos de efectivo sólidos y oportunidades de crecimiento en el alquiler.
Parkit Enterprise (TSXV: PKT)는 오타와 1650 Comstock Rd에 있는 산업 부동산을 950만 달러에 인수 완료했습니다. 인수한 자산은 2.8 에이커의 토지에 위치한 14만 평방 피트의 건물을 포함하고 있습니다. 이 부동산은 현재 임대 중이며, Parkit의 기존 자산 근처에 전략적으로 위치하고 있습니다. 이 구매는 1차 담보 대출과 이용 가능한 현금 유동성이 결합되어 자금 조달되고 있습니다. 이번 인수는 Parkit의 오타와 포트폴리오를 강화하고 안정적인 현금 흐름과 잠재적인 임대 성장 기회를 제공하는 것을 목표로 하고 있습니다.
Parkit Enterprise (TSXV: PKT) a finalisé l'acquisition d'un bien industriel situé au 1650 Comstock Rd, Ottawa, pour 9,5 millions de dollars. L'actif acquis comprend un bâtiment de 140 000 pieds carrés situé sur 2,8 acres de terrain. La propriété est actuellement louée et se trouve à un emplacement stratégique près des actifs existants de Parkit. L'achat est financé par une combinaison d'une première hypothèque et de réserves de liquidités disponibles. L'acquisition vise à renforcer le portefeuille de Parkit à Ottawa tout en offrant des flux de trésorerie solides et des opportunités potentielles de croissance locative.
Parkit Enterprise (TSXV: PKT) hat den Erwerb einer Industrieimmobilie in der 1650 Comstock Rd, Ottawa, für 9,5 Millionen Dollar abgeschlossen. Das erworbene Objekt verfügt über ein 140.000 Quadratfuß großes Gebäude, das auf 2,8 Acres Land gelegen ist. Die Immobilie ist derzeit vermietet und strategisch günstig in der Nähe von Parkits bestehenden Anlagen gelegen. Der Kauf wird durch eine Kombination aus einer ersten Hypothek und verfügbaren Geldreserven finanziert. Die Übernahme zielt darauf ab, Parkits Portfolio in Ottawa zu stärken und gleichzeitig solide Cashflows sowie potenzielle Mietwachstumsmöglichkeiten zu bieten.
- Strategic acquisition of 140,000 sq ft industrial property for $9.5M
- Property is currently income-generating with existing tenants
- Location synergy with existing Ottawa portfolio assets
- Property provides immediate cash flow generation
- Increased debt burden through new first mortgage financing
Toronto, Ontario--(Newsfile Corp. - December 19, 2024) - Parkit Enterprise Inc. (TSXV: PKT) ("Parkit"), is pleased to announce it has completed the acquisition of one industrial asset from an arm's length vendor (the "Vendor"), for an aggregate purchase price of
1650 Comstock Rd, Ottawa, Ontario
The Acquisition consisted of 1650 Comstock Rd, Ottawa, Ontario (the "Property"). The Property consist of one building with approximately 140,000 square feet of gross area on 2.8 acres of land. The building is tenanted and is located in close proximity to Parkit's existing assets.
The purchase price will be satisfied with a first mortgage and funds on hand.
Iqbal Khan, CEO of Parkit, states, "The Acquisition provides strong in-place cash flows, rental growth and adds scale to our existing Ottawa portfolio with excellent upside."
About Parkit Enterprise Inc.
Parkit Enterprise is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. In addition, Parkit has parking assets across various markets in the United States of America. Parkit's Common Shares are listed on the TSX-V (Symbol: PKT).
For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott:
Investor Relations
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the Acquisition, including the potential excellent upside of the Acquisition; and Parkit's business strategy and focus regarding the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. This forward-looking information reflects Parkit's current beliefs and is based on information currently available to Parkit and on assumptions Parkit believes are reasonable. These assumptions include, but are not limited to market acceptance of the Acquisition; the level of activity in the industrial real estate industry and the economy generally; competition and Parkit's competitive advantages; trends in the industrial real estate industry; the availability of attractive and financially competitive acquisitions in the future; and continued consumer interest in Parkit's services and products. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Parkit to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties, and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board of directors, third party or regulatory approvals; the actual results of Parkit's future operations; competition; changes in legislation, including environmental legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and the lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Parkit's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of risks, uncertainties and factors is not exhaustive. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, is subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234589
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