RV rental firm CanaDream Corp. today (Jan. 16) announced it has completed the previously announced sale of its Calgary property located at 2510 27th Street N.E.
The company completed the sale of its current Calgary location for total proceeds of $3.2 million on Dec. 16, 2014. As a result of the sale, CanaDream will realize a gain of $438,000, to be recorded in the third quarter of the fiscal year ending April 30. After deducting expenses related to transaction costs and the outstanding mortgage balance, the Company received net cash proceeds of $1.8 million.
The company will be relocating to its new 21,000 square foot facility on 10 acres in February 2015. During this transition period, CanaDream is leasing their current premises from the new owners until Feb. 28.