Tempus Capital to Purchase New Commercial Property
Burlington, Ontario--(Newsfile Corp. - February 8, 2021) - Tempus Capital Inc. (CSE: TEMP) ("Tempus" or the "Company") is pleased to announce that it has entered into an agreement to purchase a commercial property which includes a building with approximately 5,000 square feet, located in London, Ontario.
The property is currently rented to an established, local restaurant that has been serving the community for over 15 years. The current lease on the property is in place until 2026 with scheduled rental increases over the span of the next five years.
"We view the purchase of this property as an excellent addition to our portfolio," said Russell Tanz, Tempus President and CEO. "It is located in proximity to many of our other properties, allowing for us to acquire this property without incurring any additional overhead costs. This new acquisition is expected to provide a positive return on our investment and be accretive to our shareholders."
The purchase of the property is expected to close on or before March 31st, 2021.
Tempus is a real estate operating company engaged in the acquisition, development and ownership of income producing properties in Canada, with a focus on strip mall shopping centres, storefront retail and mixed residential and commercial properties. Tempus is a reporting issuer in British Columbia, Ontario and Alberta.
On behalf of the board of directors
Tempus Capital Inc.
President and CEO
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