Homburg Invest Inc. has announced the sale of 247 acres of land in Calgary, Alberta that had been acquired for future development. After careful consideration it was determined that the land did not fit with Homburg Invests medium and long-term plans and objectives.
The sale did however result in a significant gain, approximating $0.08 per share, which will be reflected in the first quarter results.
Homburg, with its head office in Halifax, Nova Scotia, owns and develops a diversified portfolio of quality real estate including office, retail, industrial and residential apartment and townhouse properties throughout Canada, the United States and Western Europe.
Source: Homburg
