On Feb 11, 2013 Canadian owned, Acana Capital Corp. (CNSX:APB), Eugene Beukman, CEO, through a wholly owned subsidiary, Acana Capital USA, Inc., completed its acquisition of 100 per cent of the shares in two LLCs controlled by a shareholder of the Company, Lakhwindar Janda of the Janda Group, LLC and in so doing, acquired the following real estate projects:
An office / warehouse building at 5575 S Houghton Rd in Tucson, AZ for the purchase price of $2.3 million (USD) or about $74 per square-foot. Purchase delivered to the vendor as a $1.3 million (USD) convertible debenture and a $1 million promissory note. The convertible debenture bears interest at 4% per annum, due in 5-years, and is convertible to preferred shares of the Company. The promissory note is due on demand and bears an interest rate of 3% per annum.
The 31,042 sq. ft building, constructed in 1997, is located on 3.09 acres and sold vacant; accordingly the vendor reduced its price from a $3 million asking price to market value. The building is currently divided into 5,341 sq. ft fully air conditioned office space and 25,701 sq. ft. manufacturing / warehouse space, formerly occupied by Global Solar Energy and Medusa Machinery. The company anticipates leasing the building and has it marketed exclusively by Peter Douglas of Picor Commercial Real Estate a Cushman Wakefield Company of Tucson.
The second property acquired was more than 74 acres of farm land in Courtland, CA for $400,000 (USD) paid in cash. Acana had previously been in negotiations to acquire the California land but the transaction did not complete. The vendor reduced its price by $100,000 (USD) and accordingly Acana Capital USA completed the transaction at this reduced rate.
Acana Capital Corp. portfolio, with ownership interests in Canada, California and now Arizona, is valued at approximately $6 million in real property.
Acana Capital Corp. was formed June, 2007 in British Columbia, Canada. The company’s principal activity is the acquisition and development of real properties. The Company’s head office, registered office and record office are all located at Suite 200 – 8338 120th Street, Surrey, BC, V3W 3N4 Eugene Beukman and Lakhwinda Janda can be reached at (604) 592-6881. Peter Douglas of Picor is at (520) 546-2711.