CapRate Commercial Properties Inc.

CapRate Commercial Properties Inc.

March 21, 2005 19:15 ET

CapRate Commercial Properties Inc.: Special Shareholders' Meeting


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CAPRATE COMMERCIAL PROPERTIES INC.

TSX VENTURE SYMBOL: CMN

MARCH 21, 2005 - 19:15 ET

CapRate Commercial Properties Inc.: Special
Shareholders' Meeting

CALGARY, ALBERTA--(CCNMatthews - March 21, 2005) - CapRate Commercial
Properties Inc. (TSX VENTURE:CMN) ("CapRate" or the "Corporation") is
pleased to announce that at the special meeting of the shareholders of
the Corporation held on March 21, 2005, the resolutions relating to the
sale of the Corporation's major assets and the dissolution of the
Corporation were approved unanimously.

The purchaser of Vista Landing property, the remaining major operating
asset of the Corporation, has waived all conditions of the sale, save
and except for that relating to obtaining the approval, by the lender,
of the assumption of the existing mortgage. This, while still
outstanding, is in process and is anticipated to be achieved in the next
thirty to forty days with the subsequent closing of the sale
approximately thirty days thereafter.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    CapRate Commercial Properties Inc.
    Mr. David Murphy
    President
    (403) 235-2353
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.