OTTAWA, Nov. 15 /CNW Telbec/

Primecorp Commercial Realty Inc. completes $21.5M Sale of McDonald Estates, Edmonton, Alberta.

Primecorp Commercial Realty Inc. announced today that it has completed its mandate, acting as exclusive advisor to the Vendor, a European Consortium, in the $21.5 Million sale of McDonald Estates to LaSalle Acquisitions Corp.

The property, located at 9925 Jasper Avenue, is improved with a twenty- six storey structure comprised of 200 apartment units, 29,000sf of commercial space and a 500 stall parking structure. The property is located in a premium downtown location in Edmonton, Alberta and is adjacent to the prestigious MacDonald Fairmont Hotel. The transaction was led by Principals Aik Aliferis and Sam Firestone , Primecorp's Multi-Residential Investment Group, and marks one of the largest real estate transactions of the year in the City of Edmonton, Alberta.

This transaction adds to Primecorp's record sales total for 2005, surpassing $250 million, and reinforces Primecorp's continued success and ability to complete substantial investment transactions in the Canadian real estate market. Primecorp's Multi-Residential Investment Group has been involved in the sale of over 14,500 multi-residential units since its inception in 1998, with nearly 4,000 units sold in the last 12 months.

Primecorp, led by its four founding partners, Sam Firestone, Aik Aliferis, Nicolas Pantieras, and Steve Lerner, is a strategically focused commercial real estate investment brokerage, management and advisory firm. The firm has completed in excess of C$1.2 Billion in real estate transactions with private and institutional investors, public corporations, REITS and international investment groups, in over 25 markets.