Concert Expands Industrial Portfolio

September 05, 2002

The income-producing properties are located in Edmonton, Calgary, Langley and Kelowna.

Vancouver, BC, Canada – Concert has announced the acquisition of six industrial properties from Greiner-Pacaud Management Associates of Toronto for $15.4 million. The properties are located in Edmonton, Calgary, Langley and Kelowna, and total more than 320,000 square feet (29,730 square metres) of industrial space.

"This acquisition is part of our business strategy to increase the company's income-producing commercial portfolio," said Concert's President & CEO David Podmore. "It is the first time we have purchased industrial properties outside of British Columbia, and is part of the company's ongoing diversification program."

Concert has acquired or developed a total of 33 industrial/commercial buildings in less than five years. Its industrial and commercial properties portfolio now stands at almost two million square feet (almost 185,808 square metres) of industrial and commercial space valued at approximately $175 million.

About Concert
Properties Concert is an award-winning diversified real estate enterprise involved in developing and acquiring commercial and industrial properties, rental housing, multi-family condominium housing, seniors living communities, and resort developments in British Columbia, Alberta and Ontario.

For media inquiries contact:
Heather Harley
Telephone: 604.602.3713

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