Rebel Capital Group, a New York City–based capital pool company, has entered into a non-binding letter of intent with limited partnership Chief Commercial Construction to acquire a 91,790-square-foot data center in Pittsburgh for $32 million.
The deal also includes a three-story, 43,800-square-foot office property, located on a connected 7.65-acre site.
The completion of the transaction will be subject to regulatory approval, including the approval of the TSX Venture Exchange as well as a number of additional conditions.
The proposed transaction is intended to serve as a qualifying transaction, in accordance with TSXV Policy 2.4 - Capital Pool Companies. Upon closing of the proposed transaction, Rebel anticipates being classified as a "Tier 1" real estate issuer that will meet the TSXV's initial listing requirements.
