582958 Ontario Limited

July 31, 2015 11:35 ET

2100 Bloor Street West Limited Partnership Completes Sale of Retirement Residence Project

TORONTO, ONTARIO--(Marketwired - July 31, 2015) - 582958 Ontario Limited (the "General Partner"), the general partner of 2100 Bloor Street West Limited Partnership (the "Partnership") today announced the completion of the sale of the retirement residence project and the related commercial office/retail component (the "Project") owned by the Partnership to Chartwell Master Care LP on July 31, 2015.

The Partnership is expected to dissolve effective December 31, 2015. The General Partner will proceed to pay any outstanding liabilities of the Partnership out of the proceeds of sale, including paying any costs involved in the sale of the Project and all expenses incurred in the winding-up of the Partnership, and establish any reserves as the General Partner considers necessary for contingent liabilities. The General Partner will then distribute the remaining balance of the Partnership's assets in cash as a capital payment to the limited partners of record on the date of dissolution proportionate to the number of units of the Partnership held by them, in accordance with the sharing ratio set forth in the Limited Partnership Agreement.

Contact Information

  • 582958 Ontario Limited
    Douglas E. Amy
    Director
    (204) 954-5069