- Emergia Inc. (EMER) enters binding agreements to purchase 31 per cent of a real estate portfolio in Ontario for $40.69 million
- The portfolio includes approximately 568,000 square feet of leasable retail area
- It will be paid through a combination of cash, assumption of debt, and the issuance of up to approximately $10.14 million of Class A common shares for $1.00 per share
- The closing is expected to take place on February 28
- Emergia Inc. (EMER) is up 9.76 per cent and is trading at $0.90 per share as of 3:06 pm EST
Emergia (EMER) has agreed to purchase 31 per cent of a real estate portfolio in Ontario for $40.69 million
The portfolio includes approximately 568,000 square feet of leasable retail area with the potential for additional development of approximately 196,000 square feet.
The purchase will be paid through a combination of cash, assumption of debt, and the issuance of up to approximately $10.14 million of Class A common shares for $1.00 per share.
The transaction is expected to close on February 28.
Emergia mainly operates in Canada in the development, acquisition, and management of multi-purpose real estate.
Henri Petit, President and CEO of Emergia, commented
“This transaction is perfectly in line with the Corporation’s business model… It also brings Emergia’s asset allocation per segment at approximately 36.5 per cent in revenue generating properties and approximately 63.5 per cent in development and optimization properties.”
Emergia Inc. (EMER) is up 9.76 per cent and is trading at $0.90 per share as of 3:06 pm EST.