Urbanfund Corp. (TSX VENTURE:UFC) has entered a binding letter of intent to form a 50/50 venture with Takol Real Estate in the ownership, redevelopment and renovation of 11-13 Edvac Dr., a 64,000-square-foot, two-building industrial complex located in Brampton, Ontario.
The complex is currently under contract for $5.315 million. It is comprised of 40 units and is currently 94.2% leased.
As part of the agreement, UFC and Takol will each invest...
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