Westbridge Capital Ltd. (Westbridge) is pleased to announce that its real estate subsidiary TerraTrust Inc. (Terra) successfully completed the acquisition of Preston Centre on October 16th, 2020. Preston Centre is a multi-tenant commercial property comprising 61,880 sq feet of rentable space.
Strategically located on one of the busiest corners in the city of Saskatoon, Saskatchewan, Preston Centre enjoys a strong tenant profile, which includes Bank of Montreal, AECOM Engineering, and Dream REIT. The building is also set to become the new head office of Westbridge, which will occupy 7,200 sq ft on the 3rd floor. Leasehold improvements will begin immediately, with the targeted move-in date scheduled for February 2021.
The acquisition was led by Dan Kemmer, President & CEO, and Darian Brown, Director of Operations at Terra. Financing for the acquisition was arranged by Westbridge Capital Partners Income Trust, a mezzanine debt fund managed by Westbridge.
About TerraTrust Inc.
About Westbridge Capital Ltd.
Westbridge is a private equity management company. Westbridge focuses on real estate and private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility.
About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust (the Fund) is a Canadian domiciled Mutual Fund Trust managed by Westbridge. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors. The Fund makes monthly distributions to investors and targets annual distribution of income equal to 11% of an investors contributed capital.