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Regent Pacific Properties ( (TSE:RPP) ) has provided an announcement.
Regent Pacific Properties Inc. has completed the acquisition of ten condominium units in the Connaught at Griesbach project in Edmonton, Alberta, finalizing a transaction initially announced in 2022. The acquisition, involving a total purchase price of $3,042,000, was financed through a combination of company deposits and mortgages, resulting in a 43% equity position. This strategic move is expected to bolster the company’s resilience against market volatility and reflects a prudent approach to capital deployment. The transaction, classified as a related party transaction due to the involvement of the company’s CEO, was exempt from certain regulatory requirements, highlighting the company’s compliance with market regulations.
More about Regent Pacific Properties
Regent Pacific Properties Inc. is a company operating in the real estate industry, focusing on property acquisition and management. Its primary market involves the acquisition of condominium units, with a focus on strategic investments that ensure a strong equity position.
Average Trading Volume: 1,146
Technical Sentiment Signal: Buy
Current Market Cap: C$4M
Learn more about RPP stock on TipRanks’ Stock Analysis page.