SUNSTONE OPPORTUNITY (2006) REALTY TRUST - SUNSTONE OPPORTUNITY (2006) DEBENTURE FUND - ANNOUNCEMENT OF SALE OF POLSON PLACE MALL AND RETURN OF CAPITAL TO UNITHOLDERS
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NORTH VANCOUVER, BC, Jan. 4, 2022 /CNW/ - Sunstone Opportunity (2006) Realty Trust (the "Realty Trust"), and Sunstone Opportunity (2006) Debenture Fund (the "Debenture Fund") announce today that they have sold The Shops at Polson Park, located in Vernon, BC, for $30,500,000 less standard closing costs and adjustments, including third party real estate commissions. The sale was completed on December 7, 2021.
The property was acquired by the Realty Trust in May 2007 for $23,247,402 plus standard closing costs and adjustments.
As a result of the disposition, the Realty Trust together with the Debenture Fund paid a special return of capital distribution in the amount of $9,350,000 ($233.75 per unit) to the Debenture Fund unitholders of record as of December 22, 2021 with a payable date of December 31, 2021.
Additional information about the Trust and the Mortgage Fund is available at www.sunstoneadvisors.com or www.sedar.com.
SOURCE Sunstone Opportunity (2006) Realty Trust
Darlene Paziuk, Investor Relations, Sunstone Opportunity (2007) Realty Trust, Sunstone Opportunity (2007) Mortgage Fund, Suite 200, 50 Fell Ave., North Vancouver, BC V7P 3S2, Phone: (604) 681-5959 or (888) 681-5959, E-mail: [email protected], www.sunstoneadvisors.com
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