ACQUISITION OF A PROPERTY PORTFOLIO FOR $ 10.4 M
Montréal, May 9, 2018 – After announcing the acquisition of an office building and a development site on April 30th, 2018, valued at $10.4M, DELMA Real Estate Corporation (“DREC”), a wholly owned subsidiary of DELMA Group Inc. (CSE:DLMA) (“DELMA”) is proud to announce its acquisition of Lupa Investments Inc. (“Lupa”), a real estate holding company that owns four (4) buildings and properties located in Montreal and Longueuil, comprising two (2) industrial multi-tenant buildings totaling 41,000 sq. ft. and twocommercial multi-tenant building totaling 24,500 sq. ft., including potential for development.
The purchase price of the acquisition was paid by the issuance of 3,803,339 class A preferred shares of DREC share capital (the “DREC shares”) to the shareholders of Lupa (collectively, the “Sellers”). Following this acquisition, DELMA purchased the DREC shares held by the Sellers in consideration of the issuance of 633,890 class A common shares in the capital of the Delma at a price of $6.00 per share. No broker fees were paid in connection with this acquisition.
Two properties located on the island of Montreal include 1221-1225 Saint-Jean-Baptiste Street in Pointe-aux-Trembles, where a Canada Post office (16,730 ft2) is located, and a property located at 9700 Boul. St. Laurent (corner Port-Royal), which will be redeveloped into an eight-storey mixed-use multi-residential building with approximately 10,000 ft2 of commercial space on the ground floor, complete with underground parking for both commercial and residential tenants.
The buildings located in Longueuil include 475-489 Le Breton and 505-531 Le Breton, two multi-tenant industrial buildings respectively, built and renovated in 2006, with a cumulative 41,200 sq. ft. of building space and 14 industrial bays.
“These acquisitions are part of DELMA Group’s overall value-added acquisitions strategy, which aims to optimize and redevelop existing buildings, as well as developing and building new mixed-use communities,” explains the new President of DELMA Group, François Castonguay, a veteran corporate leader who until recently was President and Chief Executive Officer of Uniprix. “LUPA Corporation is a respected player in local real estate, and DELMA is excited to acquire these four properties, which will help us contribute to the development of the Greater Montreal’s real estate profile and future.”
About DELMA Group
DELMA Group is a Montreal-based real estate company specializing in the development, acquisition and operation of real estate assets in Canada, the United States and Europe, and whose executive team have three decades of experience in these areas. DELMA Group offers an agile and efficient investment platform aimed at maximizing returns while mitigating risks. The company offers vertically and horizontally integrated services through its subsidiaries DELMA Real Estate Corporation, DELMA Hospitality Corporation and DELMA Management Services Corporation. DELMA Group is listed on the Canadian Security Exchange (CSE) from March 2018 (CSE: DLMA). For more information, please visit www.delma.ca.
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Source: DELMA Group Inc.
Information: Ms. Valérie Gonzalo AGO Communications 514-626-6976 firstname.lastname@example.orgAuthor: Delma Management Created: 5/8/2018 Updated: 5/8/2018 Category: Delma Real Estate Tags: strength, energy, endurance