QLT completes Cdn$65.5 million real estate transaction

QLT Inc. , announced today the closing of its previously disclosed agreement to sell the land and building comprising its corporate headquarters and the adjacent undeveloped parcel of land in Vancouver, British Columbia to Discovery Parks Holdings Ltd., in its capacity as trustee of Discovery Parks Trust and Discovery Parks Trust 2 ("Discovery Parks"), for Cdn$65.5 million. In conjunction with the sale, QLT has entered into a five-year lease with Discovery Parks for approximately thirty percent of the facility and will provide two-year 6.5% interest-only second mortgage vendor financing in the amount of Cdn$12 million. read more

Source: QLT Inc.