Homburg Canada Real Estate Investment Trust will pay $39.7-million plus costs to acquire three office buildings in Calgary, as well as the right to acquire four additional buildings that will be built in the same complex.
The vendor is CP Developments Inc., a subsidiary of Homburg Invest Inc.
The properties are part of the Centron Park office complex, about three kilometres from Calgary's central business district.
The deal includes 100, 200 and 300 Centron Park, which have been built, as well as rights to acquire future buildings at 400, 500, 600 and 700 Centron Park.
"We contemplated adding Centron Park to our office portfolio from the closing of our initial public offering as soon as the appropriate opportunity arose. We are extremely pleased to deliver on this project today," said Jim Beckerleg, president and chief executive officer of Homburg Canada REIT.
The real-estate trust also announced Tuesday it has completed its acquisitions of two properties in the province of Quebec, one in the Montreal area and the other near Quebec City.