EDMONTON, Sept. 6, 2019 /CNW/ - Imperial Equities Inc.
("Imperial") today has announced it has completed the sale of its
Ashworth Building, located at 18037 - 105 Avenue, Edmonton, Alberta.
Imperial transformed this land banked property in west
Edmonton with the addition of a
new revenue generating building. Newer than the neighbouring
buildings, this development became the jewel on the block and was
immediately leased to a fledgling Alberta based corporation.
Seven years later, however, Sine Chadi, Chief Executive Officer
of Imperial, is confident that the timing was optimal for its
sale. "With every investment property, there comes a time when
we believe that we have maximized its potential and that its
disposition would benefit Imperial. Further, Imperial is focused on
expanding its portfolio with large industrial properties and the
Ashworth Building, being the smallest asset in the portfolio, was
not the right fit at this time. I am confident that the decision to
sell the Ashworth Building was the right decision" said Chadi.
Cash generated from the sale will be directed toward new
opportunities in Imperial's target markets.
About Imperial Equities Inc.:
Based in Edmonton, Alberta,
Imperial Equities Inc. is a publicly traded company anchored by
commercial and industrial real estate properties in its targeted
markets throughout Western Canada.
Additional information is available at: www.imperialequities.com.
Imperial's common shares are listed on the TSX Venture Exchange
under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE Imperial Equities Inc.
