Disruptive Investment Group Limited announces investment in online real estate marketplace iBuyNew.com.au
Disruptive Investment Group Limited:Says that it has entered into a non-binding term sheet to acquire 50 pct. of Find Solutions Australia, the owner of iBuyNew.com.au, one of Australia’s off-the-plan property marketplaces.Says the investment in IBN is subject to a number of conditions precedent including satisfactory completion of due diligence, transaction documentation and a further capital raising.The proposed consideration payable to current shareholders for 50 pct. of FSA will be approx. $2.15 million comprising $1.5 million in cash and 53,296,250 DVI shares.
True North Commercial Real Estate Investment Trust:Closes the previously announced acquisition of an office property located at 777 Brock Road, Pickering, Ontario from an arm's length vendor for a purchase price of about $22.6 million.Acquisition Property is a single-tenant, three-storey office building situated in Pickering, Ontario with about 98,900 fully occupied rentable square feet and about 8.3 years remaining on the lease term.Says $22.6 million aggregate purchase price was satisfied by a combination of about $6.8 million in cash and about $15.8 million aggregate principal amount of new mortgage financing with an eight year term and an interest rate of 3.475pct.