Parkit Completes Acquisition of Industrial Asset in Quebec
Parkit Enterprise (TSXV: PKT) has completed the acquisition of an industrial property in Boisbriand, Quebec for $10,250,000. The acquired asset, located at 1650 Boulevard Lionel-Bertrand, features approximately 62,680 square feet of gross leasable area on 2.5 acres of land. The property currently has two tenants with a Weighted Average Lease Term (WALT) of 9.3 years.
The purchase was financed through a combination of a first mortgage on the property and existing funds. The acquisition strengthens Parkit's presence in Quebec, being situated near their existing assets, and is expected to provide strong in-place cash flows and rental growth potential.
Parkit Enterprise (TSXV: PKT) ha completato l'acquisizione di un immobile industriale a Boisbriand, Quebec, per $10.250.000. L'asset acquisito, situato al 1650 Boulevard Lionel-Bertrand, presenta circa 62.680 piedi quadrati di superficie affittabile lorda su un terreno di 2,5 acri. Attualmente, la proprietà ha due inquilini con un Periodo Medio di Locazione Ponderato (WALT) di 9,3 anni.
Il finanziamento dell'acquisto è avvenuto attraverso una combinazione di un primo mutuo sulla proprietà e fondi già esistenti. L'acquisizione rafforza la presenza di Parkit in Quebec, essendo situata vicino ai loro asset esistenti, e si prevede che fornisca flussi di cassa consistenti e potenziale di crescita degli affitti.
Parkit Enterprise (TSXV: PKT) ha completado la adquisición de una propiedad industrial en Boisbriand, Quebec, por $10,250,000. El activo adquirido, ubicado en 1650 Boulevard Lionel-Bertrand, cuenta con aproximadamente 62,680 pies cuadrados de área bruta alquilable en 2.5 acres de terreno. Actualmente, la propiedad tiene dos inquilinos con un Plazo Promedio de Arrendamiento Ponderado (WALT) de 9.3 años.
La compra fue financiada a través de una combinación de una primera hipoteca sobre la propiedad y fondos existentes. La adquisición fortalece la presencia de Parkit en Quebec, ya que está situada cerca de sus activos existentes, y se espera que proporcione flujos de efectivo sólidos y potencial de crecimiento del alquiler.
Parkit Enterprise (TSXV: PKT)는 퀘벡주 보이스브리앙에 있는 산업 부동산을 $10,250,000에 인수했습니다. 인수된 자산은 1650 Boulevard Lionel-Bertrand에 위치하며, 2.5에이커의 토지에 약 62,680 제곱피트의 총 임대 가능 면적을 가지고 있습니다. 현재 이 부동산에는 9.3년의 가중 평균 임대 기간(WALT)을 가진 두 명의 세입자가 있습니다.
이 구매는 부동산에 대한 첫 번째 모기지와 기존 자금의 조합을 통해 자금을 조달했습니다. 이번 인수는 퀘벡 내에서 Parkit의 존재감을 강화하며, 기존 자산과 가까운 곳에 위치해 있으며, 안정적인 현금 흐름 및 임대 성장 잠재력을 제공할 것으로 예상됩니다.
Parkit Enterprise (TSXV: PKT) a finalisé l'acquisition d'un bien industriel à Boisbriand, Québec, pour $10,250,000. L'actif acquis, situé au 1650 Boulevard Lionel-Bertrand, possède environ 62,680 pieds carrés de surface locative brute sur un terrain de 2,5 acres. La propriété compte actuellement deux locataires avec une Durée Moyenne de Bail Pondérée (WALT) de 9,3 ans.
L'achat a été financé par une combinaison d'une première hypothèque sur la propriété et de fonds existants. Cette acquisition renforce la présence de Parkit au Québec, étant située à proximité de leurs actifs existants, et devrait fournir des flux de trésorerie solides ainsi qu'un potentiel de croissance des loyers.
Parkit Enterprise (TSXV: PKT) hat den Erwerb einer Industrieimmobilie in Boisbriand, Quebec, für $10.250.000 abgeschlossen. Das erworbene Objekt, das sich in der 1650 Boulevard Lionel-Bertrand befindet, bietet etwa 62.680 Quadratfuß an bruttobeeinflussbaren Flächen auf 2,5 Acres Land. Die Immobilie hat derzeit zwei Mieter mit einer gewichteten durchschnittlichen Mietdauer (WALT) von 9,3 Jahren.
Der Kauf wurde durch eine Kombination aus einer ersten Hypothek auf das Eigentum und vorhandenen Mitteln finanziert. Der Erwerb stärkt die Präsenz von Parkit in Quebec, da er in der Nähe ihrer bestehenden Objekte liegt und voraussichtlich starke laufende Cashflows und Potenzial für Mietwachstum bieten wird.
- Property acquired has 62,680 sq ft of gross leasable area on 2.5 acres
- Strong tenant stability with 9.3 years WALT from two in-place tenants
- Strategic location near existing Parkit assets in Quebec
- Purchase partially funded through existing cash, demonstrating financial liquidity
- Acquisition from non-arms length vendor may raise conflict of interest concerns
- Significant capital deployment of $10.25M may impact cash reserves
Toronto, Ontario--(Newsfile Corp. - February 6, 2025) - Parkit Enterprise Inc. (TSXV: PKT) ("Parkit"), is pleased to announce it has completed the acquisition of one industrial asset from a non-arms length vendor (the "Vendor"), for an aggregate purchase price of
1650 Blvd Lionel Bertrand, Boisbriand, Quebec
The Acquisition consists of an industrial building at 1650 Boulevard Lionel-Bertrand, Boisbriand, Quebec (the "Property"). The Property has approximately 62,680 square feet of gross leasable area on 2.5 acres of land. The building has two in-place tenants with a WALT of 9.3 years and is located in close proximity to Parkit's existing assets.
The Purchase Price was satisfied with a first mortgage on the Property 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 Quebec 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, other than statements of historical fact, included herein is forward-looking information. In particular, this news release contains forward-looking information in relation to: statements regarding the potential effect on Parkit of the Acquisition including its effect on cash flows, rental growth and the adding scale to Parkit's Quebec portfolio; 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: the receipt of all required final approvals for the Acquisition; market acceptance of the Acquisition; the level of activity in the industrial real estate business 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 and uncertainties that may cause the actual results, performance or developments to differ materially from those contained in or implied by such forward-looking information. These risks, uncertainties, and 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/239949
FAQ
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What is the tenant situation and WALT for Parkit's new Quebec acquisition?
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