The North Front Limited Partnership

September 22, 2014 14:19 ET

The North Front Limited Partnership Completes Sale of Retirement Residence Project

TORONTO, ONTARIO--(Marketwired - Sept. 22, 2014) - 779395 Ontario Limited (the "General Partner"), the general partner of The North Front Limited Partnership (the "Partnership") announced the completion of the sale of the retirement residence project (the "Project") owned by the Partnership to DCMS Realty (Belleville) Limited Partnership, an affiliate of Diversicare Canada Management Services Co., Inc., on September 19, 2014.

The Partnership is expected to dissolve effective December 31, 2014. The General Partner will proceed to pay any outstanding liabilities of the Partnership out of the proceeds of sale 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 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

  • 779395 Ontario Limited
    Douglas E. Amy
    Director
    (204) 954-5069