Press Release
September 7, 2001
CALGARY, AB -- TGS Properties Ltd. (``TGS'') announced yesterday that it has contracted to sell the historic Demcor
Building, a commercial office building in Calgary, Alberta, for $3.46 million.
``The disposition of the Demcor Building represents another step toward our objective of realigning the TGS building
portfolio,'' commented Blair Richardson, TGS Chief Executive Officer. He added, ``We are continuing to seek out
further growth opportunities in Western Canada, and will re-deploy proceeds from all building sales into new property
opportunities that meet our investment criteria.''
TGS is a Calgary-based commercial real estate and land development company with over $220 million in assets located
primarily throughout Western Canada. The company specializes in the acquisition, development and management of
office buildings, community malls and industrial warehouse/storage facilities. In addition, TGS holds one of the
most strategic and valuable land developments in North America, the Three Sisters Resorts development located in
the Banff/Canmore area of Alberta.
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Contact:
TGS Properties Ltd. Lloyd Wiggins CFO and Executive Vice President Phone: (403) 264-9944 or TGS Properties Ltd. Sheryl Fox Vice President Investor Relations Phone: (306) 933-9933