Mr. Iqbal Khan reports

PARKIT ACQUIRES THE REMAINING 50% INTEREST IN ITS NASHVILLE, TN, PARKING ASSET

Parkit Enterprise Inc. has completed the acquisition of the remaining 50-per-cent interest in Fly Away Airport Parking in Nashville, Tenn., from an arm's-length vendor for an aggregate purchase price of $3.55-million (U.S.), subject to customary adjustments. With this acquisition, Parkit now owns 100 per cent of Fly Away Airport Parking.

Fly Away Airport Parking

Fly Away Airport Parking is an off-airport parking lot located by the Nashville International Airport with 1,204 parking spaces on 8.5 acres of land.

Purchase price and payment

The purchase price for the acquisition is $3.55-million (U.S.), subject to customary adjustments, and was paid with funds on hand.

Iqbal Khan, chief executive officer of Parkit, states, "The acquisition provides Parkit full control over the future opportunities of the asset."

About Parkit Enterprise Inc.

Parkit is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada which complements its parking assets across the United States.

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