Corporate Properties Limited

November 17, 2006 15:00 ET

Corporate Properties Limited Announces Real Estate Sales

TORONTO, ONTARIO--(CCNMatthews - Nov. 17, 2006) - The Board of Directors of Corporate Properties Limited (TSX VENTURE:CPR)(the "Company") is pleased to announce the sale of its two income producing properties in Muskoka, Ontario, being the Cranberry Cove Resort and Tapps Cottage Eatery. The effect of these two sales reduces the Company's long-term debt by $5.15 million dollars. The Company will continue the development of its remaining properties in Port Carling, Ontario, including The Greene Slate Inn and The Ports.

The TSX Venture Exchange has neither approved nor disapproved of this press release.

Contact Information

  • Corporate Properties Limited
    Tom Sheppard
    (416) 966-6885