PE-backed RTL-Westcan strikes $68 million property deal with Edgefront

RTL Westcan LP, a bulk commodity hauler operating in Western Canada, has agreed to sell 10 industrial properties located in Alberta, Saskatchewan, British Columbia and the Northwest Territories to Edgefront Realty Corp for the equivalent of $68 million. The acquisition will occur in connection with the conversion of Edgefront into a real estate investment trust (REIT). Under the terms of the deal, RTL Westcan will own a major interest in the new REIT. Based in Edmonton, RTL Westcan has been a portfolio company of Canadian private equity firm TriWest Capital Partners since 2006.

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