Ontario Company: Partners REIT

Partners REIT: League has entered an agreement with a numbered Ontario company to sell the management contract it has for Partners REIT for $1.5 million in a deal that will also see Partners pay the $574,000 in fees it owes to League for its services. , according to Times Colonist. McCowan recently purchased Leagues holdings in Partners REIT for $27.1 million, $17.4 million of which went to creditors Firm Capital and nearly $10 million to Timbercreek Mortgage Investment, which held security tied to those holdings. The League group of companies will have another $2 million available for creditors and investors and avoid potentially expensive litigation if the courts approve a proposal to sell the management contract it holds for a real estate investment trust. The company, 1862302 Ontario Ltd., is a wholly owned subsidiary of McCowan and Associates Ltd. (www.immigrantscanada.com). As reported in the news.