Homburg Invest Inc. has purchased inner-city lands in Calgary (CAN)

Homburg Invest Inc. has purchased the former Canadian Freightways lands on Blackfoot Trail in Calgary from the Centron Construction Group. The property is being developed and constructed for Homburg Invest Inc. by Homburg-Centron Teamworks.

The site consists of 19.25 acres in a prime inner-city suburban setting located a few minutes from downtown. The site boasts exceptional exposures and spectacular mountain and downtown views and is strategically located to all major traffic routes.

The project will consist of seven first-class luxury suburban office buildings consisting of approximately 415,000 square feet and 1,410 parking stalls. The buildings will consist of brick and glass construction utilizing outdoor patios and abundant underground heated parking. The grounds will be lusciously landscaped with vast lawns, trees and planters equaling a resort atmosphere. The project's estimated value is $121,000,000.

Canadian Freightways will remain a tenant providing substantial holding income until mid-2006 while permits and designs are completed.

Construction will commence on Phase 1 immediately upon receipt of municipal approvals and without a pre-leasing requirement.

Source: Homburg Invest Inc.

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