CanaDream Corp. today announced it has completed the previously announced sale of its Calgary property located at 2510 27th St. N.E.
The Company completed the sale of its current Calgary location for total proceeds of $3.2 million on Dec. 16, 2014.
As a result of the sale, the company will realize a gain of $438,000, to be recorded in the third quarter of the fiscal year ending April 30. After deducting expenses related to transaction costs and the outstanding mortgage balance, the company received net cash proceeds of $1.8 million.
The company will be relocating to its new 21,000-square-foot facility on 10.4 acres located at 292154 Crosspointe Drive, Rocky View County, in February. During this transition period, the company is leasing its current premises from the new owners until Feb. 28.
CanaDream Corp. promotes Canada and the opportunity to “experience Canada at your own pace” in RVs and sells its guest experienced RV fleet on a wholesale and retail basis.
The company is utilizing its proprietary business-to-business web-enabled system, www.canadasbest.com, and its business-to-consumer on-line internet reservation system, www.canadream.com, to operate and expand its network of RV rental locations in Canada.
CanaDream maintains six company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax.