Cagim Real Estate Corporation

Cagim Real Estate Corporation

July 11, 2008 09:01 ET

Cagim Closes a Permanent $9,3M Financing

QUEBEC CITY, QUEBEC--(Marketwire - July 11, 2008) - Cagim Real Estate Corporation (the "Corporation")(TSX VENTURE:CIM) is pleased to announce the closing, by its subsidiary Palim Inc. and in partnership with Les Immeubles Perron Ltee, of a CAD $9,300,000 hypothecary loan with Hypotheques CDPQ Inc., through MCAP. This loan will be amortized over a period of 25 years at a rate of 4.80% for a term of 5 years.

This financing was set up after the completion of the construction of Place d'Affaires Lebourgneuf Phase II s.e.n.c., a building of more than 110,000 square feet located at 6700 Boul. Lebourgneuf, Quebec. Place d'Affaires Lebourgneuf Phase II s.e.n.c. welcomed its first occupants in November 2007. Already, Canada Post, Dundee Insurance Agency Ltd. and other major tenants occupy more than 75% of the total area of the building.

About Cagim Real Estate Corporation

The Corporation is listed on the TSX Venture Exchange since September 21, 2004 and operates property management and acquisition activities through its subsidiaries ADG Immobilier Inc., Complexe Lebougneuf Inc. and Palim Inc.

The TSX Venture Exchange does not accept responsibility for the adequacy pf this release.

Contact Information

  • Cagim Real Estate Corporation
    Mr. Guy Boutin
    Leasing and Development Officer