Plazacorp announces six new projects
17 Julio 2012 - 6:00AM
PR Newswire (Canada)
FREDERICTON, July 17, 2012 /CNW/ - Plazacorp Retail Properties Ltd.
announced today that it will develop six new retail properties.
Three projects are located in Quebec, one in Nova Scotia, one in
New Brunswick and one in Newfoundland. In all, the Corporation will
be investing approximately $20 million for its share of these six
new projects and will add approximately 120,000 square feet to
Plazacorp's portfolio of retail properties (at PLZ's ownership
percentage). The Nova Scotia and Quebec projects are being
developed with joint venture partners. "We are pleased to be able
to continue to grow our portfolio by developing high quality
projects that are leased to Canada's best retailers. Our ability to
source new high quality development projects distinguishes
Plazacorp from most other public real estate entities that are
competing to acquire existing or finished properties in a highly
competitive and low cap rate environment. Upon completion,
these properties will further diversify our asset base and allow us
to continue to grow our cash flow and deliver a reliable dividend
to our shareholders." said Plazacorp President and CEO Michael
Zakuta. Plazacorp Retail Properties Ltd. is an owner of shopping
malls and strip plazas throughout Atlantic Canada, Quebec and
Ontario. Plazacorp now owns interests in 116 properties comprising
over 5.1 million square feet of retail real estate. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
PLAZACORP RETAIL PROPERTIES LTD. CONTACT: For more information on
Plazacorp, visit our website atwww.plaza.caOr contact:Michael
Zakuta, President and CEO at 514-457-0997 x228 or Lynda
Savoie,Treasurer at 506-444-6449
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