Winnipeg company pockets $3.5 million for Spruce Grove condos
Nova Ridge Estates has been sold
The block of condos on the corner of Campsite Road and Spruce Ridge Drive has been sold to an undisclosed buyer. The seller is Lanesborough Real Estate Investment Trust, of Winnipeg, has entered into an agreement to sell the block for $10,525,000. It’s expected the company will profit $3.5 million from the deal, which closes on October 1, 2009.
The condo building, known as Nova Ridge Estates, features four storeys and 102 units. It sits adjacent to the Tri Leisure Center.
Lanesborough Real Estate Investment Trust is listed on the Toronto Stock Exchange: LRT.UN (Trust Units), LRT.DB.F (Series F Convertible Debentures) and LRT.DB.G (Series G Convertible Debentures).
