Jan. 19 /CNW Telbec/

Primecorp Commercial Realty Inc. completes sale of 20 apartment properties in Ontario, in three transactions totalling $108 Million OTTAWA

Primecorp Commercial Realty Inc. announced today that it has acted as advisors in the following three sale transactions.

1. Clarendon Lanes, located in Ottawa, Ontario, was purchased today by GWL Realty Advisors at a sale price of $30.8 Million. Clarendon Lanes is a recently completed luxury multi-family apartment project consisting of 120 luxury apartment units; 14,000sf of boutique ground floor retail and a 185 stall underground commercial parking facility. The project is comprised of a 5-storey building located on York Street and a 7-storey building located on George Street, in the historic Byward Market area.

2. A portfolio sale of thirteen apartment complexes consisting of 797 suites, located in the Greater Toronto Area, Oakville, Burlington and London was completed on Dec. 19, 2005. The properties were purchased from CAP REIT by Transglobe Property Management Services Ltd for a total sale price of approximately $70.3 million.

3. The Induspray Portfolio, comprising of six apartment complexes totaling 138 units located in the Carlington park area of Ottawa, was sold on December 22, 2005 at a price of $7.2 Million. The Portfolio was sold by a group of private investors to CRPIF II GP Inc. Realty fund.

These transactions were led by Principals Sam Firestone and Aik Aliferis, Primecorp's Multi-Residential Investment Group and demonstrates 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, Steve Lerner, Nicolas Pantieras, Sam Firestone, and Aik Aliferis, 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.