Tempus Capital Inc. entered into an agreement to acquire two commercial/retail properties in Southwestern Ontario for CAD 37.2 million on January 14, 2013. The consideration amount for first property is CAD 7.7 million and for the second property is CAD 29.5 million. Tempus is carrying out equity financings to fund the equity portions of the purchases and working capital. For the first property, Tempus received a commitment from a first mortgage lender to finance CAD 5.7 million of the purchase price and a Tempus principal personally funded the refundable CAD 0.05 million deposit. For the second property, Tempus provided a CAD 0.05 million deposit which can be refunded to Tempus within a 45 day period.

The transaction is subject to due diligence review. The first property is expected to close on February 15, 2013 and the second property is expected to close on May 31, 2013. M Partners Inc. advised on financing the deal.