Counsel Corporation

Counsel Corporation

January 14, 2008 11:23 ET

Counsel Corporation Acquires 149-159 Hartzel Road

TORONTO, ONTARIO--(Marketwire - Jan. 14, 2008) - Counsel Corporation (TSX:CXS) today announced that it has acquired, for its own account and on behalf of a group of investors, 149-159 Hartzel Road, a retail centre located in the city of St. Catharines in southwestern Ontario. The centre is situated on a 6.64 acre site and is in a retail node within an established residential community. The centre contains approximately 68,000 square feet of rentable space, which will be fully occupied upon the installation of a new tenancy sourced and negotiated by Counsel. The property's major tenants are A&P, operating under the Food Basics banner, the Hamilton Niagara Haldimand Brant Community Care Access Centre and the St. Catharines Public Library. The purchase price was approximately $7.95 million, including closing and related costs. The acquisition was financed with a mortgage of $5.7 million at 5.256% with a 10 year term.

"The Hartzel Road property is a great addition to our real estate portfolio," said Allan Silber, Counsel's Chairman and CEO. "The acquisition continues our ongoing business strategy of value creation in real estate for our shareholders."

About Counsel Corporation

Counsel Corporation (TSX: CXS) is a global asset management firm that actively partners with businesses to achieve shared success and to unlock value through leveraging our relationships, our access to capital and our strategic market experience. For further information, please visit Counsel's website at

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address Counsel's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which Counsel currently operates, but because of the factors listed herein, as well as other factors beyond Counsel's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in Counsel's securities and other regulatory filings.

Contact Information