March 24, 2011 – Abacus Real Estate Investments sells 110-118 Main Street in North Bay for $500K to a local investor. 110-118 Main Street is an approximately 13,000 square foot mixed use property. Major tenants include the H&R Block and Pita Pit restaurant. Abacus acquired the property as part of a portfolio purchase in July 2007.
With the sale of this property, Abacus Real Estate Investments has completed an opportunistic divestiture program of its Heritage Office Property portfolio for total proceeds of $20.1M. The portfolio, made up of approximately 103,000 square feet of office and retail properties, was acquired in July 2007 for $16M.
About Abacus Real Estate Investments:
Abacus Real Estate Investments Ltd. specializes in acquiring properties of all asset types. Through management and repositioning initiatives, we offer our principals and partners attractive returns. Our primary goal is to create a diversified portfolio of income producing real estate properties across Canada. The assets in our portfolio currently include industrial, retail and office properties. Target acquisitions include assets with historically strong and stable cash flows or unique value-creation opportunities. Our team consists of leading professionals with a winning combination of industry experience, complementary skills and unflagging determination.
For further information please visit our website at AbacusPE.com or contact:
T: (416) 214-3336