VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 15, 2016) -
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES.
WOODFINE PROFESSIONAL CENTRES LIMITED PARTNERSHIP ("Partnership") announces that it has made a loan of $300,000 to Woodfine Properties Inc., a corporation controlled by Peter Woodfine, a director and indirect shareholder of Woodfine Capital Projects Inc., the promoter of the partnership. The loan is made as an advance on Offering Costs with respect to future subscriptions for the sale of Units.
The following terms shall be applicable to the Loan:
ABOUT WOODFINE PROFESSIONAL CENTRES LIMITED PARTNERSHIP
The Partnership has been established to provide long-term investors with a means of achieving potential income, potential capital appreciation and potential long term liquidity through professionally managed investment in commercial real estate. Investors in Units have an equity participation in all stages of the procurement, development and management of commercial real estate, from the purchase of land to management of completed buildings, the WOODFINE PROFESSIONAL CENTRES.
Each WOODFINE PROFESSIONAL CENTRE will be a 3 to 5 storey building newly constructed by the Partnership on a Qualified Investment owned by the Partnership, providing between 50,000 and 90,000 square feet of leasable area designed to meet the space requirements of professional service providers in such fields as health care, accounting, law, engineering, and other specialties. A WOODFINE PROFESSIONAL CENTRE will be certified to LEED Core and Shell standards, with a minimum of 3 designated, full size, surface parking stalls per 1,000 square feet of leasable area.
A Qualified Investment must be located within a one kilometer radius of an existing Power Centre in one of Canada's secondary real estate markets, and include space for the parking stalls mentioned above. A Power Centre is a large aggregation of retail stores in Canada surrounded and anchored by one or more freestanding large box-store commercial retail tenants of good reputation, at least one of which has at that location a premises in excess of 60,000 square feet.
The Partnership does not charge fees calculated by reference to an increase in the value of the Partnership's properties (NAV fees).
United States and other securities laws
The Units have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy. There will be no sale of Units in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under applicable securities laws and regulations.
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