Whiterock

Leben REIT’s sale of eight Alberta properties to Whiterock REIT for $80 million has been completed.  With the closing of this acquisition, Whiterock’s portfolio consists of 41 properties totalling 3.1 million square feet, located in 13 primary and secondary markets across Canada, including Calgary, Edmonton, Regina, Saskatoon, Toronto, Ottawa, Montreal and Quebec City. The average lease term is approximately 7.9 years, with approximately 61% leased to government or investment grade firms.  At the close of market on July 16th, 2008, Whiterock’s units provided a yield of 11.3%.

Stories on this sale can be found at the following sites:

http://www.foxbusiness.com/story/markets/industries/finance/leben-reit-completes-sale-alberta-properties-whiterock-reit–million/

http://www.istockanalyst.com/article/viewiStockNews+articleid_2406658&title=Whiterock_REIT_Closes.html

http://www.cnw.ca/fr/releases/archive/July2008/17/c5362.html

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