Business News • MarketWire • NAREP Funds to Sell Units of Agellan Commercial REIT |
NAREP Funds to Sell Units of Agellan Commercial REIT |
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NAREP Funds to Sell Units of Agellan Commercial REIT
HOPKINS, MINNESOTA--(Marketwired - Oct. 3, 2016) - NAREP II Canadian REIT Holdings I L.P. ("NAREP II") announced that NAREP II, together with NAREP Canadian REIT Holdings I L.P. ("NAREP I") and certain funds affiliated with NAREP II and NAREP I (collectively with NAREP II and NAREP I, the "Sellers"), entered into an agreement on September 30, 2016 with a third party purchaser pursuant to which the Sellers have agreed to sell to the purchaser, and the purchaser has agreed to purchase from the Sellers, a total of 3,743,846 units of Agellan Commercial Real Estate Investment Trust (the "Issuer"), representing approximately 13.4% of the currently outstanding units of the Issuer. The Sellers have agreed to sell the units to the purchaser at a price of CAD$9.82 per unit, for total gross proceeds of CAD$36,764,567.72, subject to a purchase price reduction for the Issuer's monthly distribution for September 2016 payable to holders of record as of September 30, 2016. The units will be sold to the purchaser in a private sale. The Sellers are funds managed by CarVal Investors.
View More : http://www.marketwired.com/mw/release.do?id=2163549&sourceType=3
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