Postmedia Network Inc. has announced that it has entered into an agreement to sell the real estate property at 2250 Islington Avenue Toronto, Ontario. The building currently houses a printing facility. The purchase price is $30,475,000 and the net proceeds from the sale will be used for debt repayment.
The transaction is expected to close on or about August 30, 2017, subject to standard closing conditions. Postmedia will enter into a lease for a portion of the property for a period of up to ten years.
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