Homburg Invest Inc. (OTCPK:HIIA.F) signed sale and purchase agreement to Homco Realty Fund 98 Limited Partnership for approximately €17.1 million on December 19, 2014. The sale has been approved by the Canadian insolvency court. The closing of the transaction is subject to approval by the Canadian receiver and standard closing conditions.

The transaction is expected to close by end of March 2015. The net disposal proceeds from the sale of the property will be applied in discharge of the amounts outstanding under the Carat Park Shopping Centre loan in accordance with the respective finance documents. Samson Bélair and Deloitte & Touche Inc acted as receiver and trustee for Homburg Invest Inc.