CHC Realty Capital Corp. Completes Qualifying Transaction

April 03, 2014

CHC Realty Capital Corp. (“CHC”) completed its Qualifying Transaction on April 3, 2014. The Qualifying Transaction consisted of the arm’s length acquisition of a student housing property located at 335 Barrie Street in Kingston, Ontario, pursuant to the terms of a purchase and sale agreement dated January 9, 2014 entered into between CHC and Q4 Realty Inc. The purchase price for the property was $2.5 million, subject to adjustments, which CHC satisfied through the assumption of an existing mortgage on the property in the principal amount of $1.26 million and the payment to the vendor of the balance of the purchase price in cash from CHC’s existing funds.

Wildeboer Dellelce LLP acted for CHC in connection with the Qualifying Transaction with a team that included Vaughn MacLellan and Eric Karrandjas (corporate/securities), Daniel Shapira and Shayn Diamond (commercial real estate), and Kevin Fritz (tax).