Whiterock, PE Firm Snag 9 Office Properties For $143M

Law360, New York (December 14, 2011, 7:57 PM EST) -- Whiterock Real Estate Investment Trust is buying nine office properties in Alberta, Canada, for $143 million through a partnership with private equity firm ROI Capital Ltd., the REIT announced Wednesday.

ROI Capital would hold a 60 percent ownership stake in the portfolio, with Whiterock holding 40 percent and exclusively managing the properties. The portfolio comes at a price of $108 million, in addition to the assumption mortgages on five of the nine properties totaling $35 million with an average fixed rate of about 3.75 percent....
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