May 24, 2017 / 7:59 PM / 2 months ago

BRIEF-Partners REIT announces $27.0 million mortgage at Quebec property

1 Min Read

May 24 (Reuters) - Partners Real Estate Investment Trust

* Partners announces $27.0 million mortgage at Quebec property

* announce that it has finalized a $27.0 million mortgage at reit's mega centre property in saint laurent, quebec

* Mortgage is with otera capital, has ten-year term, a 23-year amortization period and an interest rate of 3.56%

* Will use $23.7 million of mortgage towards repayment of property's existing mortgage, which carried an interest rate of 5.33%

* Remaining net proceeds of $3.3 million, prior to financing costs will be utilized for debt reduction purposes Source text for Eikon: Further company coverage:

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