EDMONTON, ALBERTA--(Marketwire - March 13, 2013) - On February 28th, 2013, Anthem Properties Group Ltd. completed the disposition of its 7.9 acre Molson Brewery site located at the intersection of 104th Avenue and 121st Street in Edmonton, AB. The site was sold to joint venture partners First Capital Realty Inc. and Sun Life Assurance Company of Canada.
The Molson site sits immediately adjacent to the Purchaser's 6.3 acre Crosstown Chrysler site, which was acquired by the Purchaser in 2012. The sites combined, bring the total assembly to 14.2 acres. The size and location of the assembly will allow for an exciting, comprehensive mixed use development along this important east-west corridor.
"The sale was a strategic move for both Anthem and the Purchaser and we are very pleased with the outcome. This land assembly will allow for an exciting, mixed use development at a key intersection in the City that will best suit the needs of the surrounding community," says Alexa Baughen, Anthem's Vice President of Investments and Communications.
About Anthem Properties:
Anthem Properties is a 120-person real estate investment, development and management company operating in Western Canada, headquartered in Vancouver, B.C. The Anthem portfolio is currently comprised of over 3.5 million square feet of commercial space, 40 acres of urban and suburban land held for future development, and approximately 3,500 residential condominium units either in the design development stage or under construction. Anthem has invested in, developed, and/or managed, alone or in partnership, over 210 projects, in virtually all asset classes, with a cumulative historical value of approximately $2.5 billion. For further information, please visit the Company's web site at www.anthemproperties.com.
Contact Information:
Alexa Ulinder Baughen
VP, Investments and Communications
604-488-3620
abaughen@anthemproperties.com
www.anthemproperties.com