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MTS gains partner

A Toronto-based real estate investment trust is investing $16 million to become 50 per cent owners of the soon-to-be built MTS Data Centre.

FAM Real Estate Investment Trust's investment includes $9.5 million to acquire the 50 per cent equity ownership in the project and a $6.5 million mezzanine loan to its joint venture partner.

Last December, MTS announced its intention to build a 70,000-square-foot multi-tenant data centre in Winnipeg.

FAM already has an extensive portfolio of buildings that it owns in Winnipeg.

MTS is not yet disclosing the location of the facility which the FAM release says is on a 6.3 acre site with sufficient land to expand the centre up to twice the initial size.

 

Wholesale industry hot

Manitoba's wholesalers are on a bit of a roll.

Statistics Canada said Tuesday Manitoba posted the second biggest month-over-month increase in wholesale sales among the provinces in February, with sales climbing by 2.7 per cent to $1.39 billion from just under $1.36 billion in January.

It was also the third increase in four months for Manitoba's wholesale industry, and more than offset January's one per cent decline. February's total was also a 4.1 per cent improvement from February of last year, when wholesalers shipped $1.34 billion worth of goods.

The only province to see a bigger monthly increase in February was Prince Edward Island, with a five per cent gain.

Nationally, wholesale sales in Canada grew by 1.1 per cent to $50.7 billion from $50.1 billion in January. The agency said sales were up in all subsectors, led by a three per cent increase in sales of motor vehicles and parts.

-- staff

Republished from the Winnipeg Free Press print edition April 23, 2014 B5

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