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PROREIT COMPLETES SALE OF THREE NON-CORE PROPERTIES AND REITERATES CAPITAL ALLOCATION STRATEGY

Newswire.ca - Fri Sep 29, 2023

MONTREAL, Sept. 29, 2023 /CNW/ - PRO Real Estate Investment Trust ("PROREIT" or the "REIT") (TSX: PRV.UN) today announced that it has completed the sale of two non-core office properties and one non-core retail property totalling approximately 63,000 square feet of gross leasable area ("GLA") for total gross proceeds of $11.3 million, excluding closing costs. Proceeds of the sale were used to repay approximately $7.2 million in related mortgages maturing in 2023, with the balance used for general business purposes.

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