Announcement Highlights:
- US $8.5 million construction loan arranged by RBC Capital Markets Real Estate Group
- Project is fully permitted, shovel ready, with construction to start Spring 2010
Vancouver, B.C., April 7, 2010 – Greenscape Capital Group Inc. (“Greenscape”) TSX‐V: ‐ GRN is pleased to announce that its wholly owned subsidiary, Green.Switch Capital (“Green.Switch”) has secured the total debt financing required for the development of its Denver Green Park DIA (“Green Park DIA”) project.
The debt component of the project was arranged by RBC Capital Markets Real Estate Group (“RBC”).
An executed, unconditional Commitment Letter to fund the debt has been received by Greenscape.
The debt facility consists of a US $8.5 million construction loan with a 36 month term; the debt will be used for the development of Green Park DIA, the world’s greenest parking facility.
Construction is targeted to start on the fully permitted, shovel‐ready, Green Park DIA project in Spring, 2010 with an estimated term to complete construction of 7 months. Total construction costs to build Green Park DIA are approximately US $17 million via a fixed, maximum price construction contract.
About RBC Capital Markets Real Estate Group
RBC Capital Markets Real Estate Group is a wholly owned subsidiary of RBC Capital Markets and part of the Royal Bank Financial Group. RBC Capital Markets Real Estate Group is the largest dedicated real estate investment banking group in Canada, with twenty‐nine professionals located in Toronto, Calgary and Montreal. RBC Capital Markets Real Estate Group specializes in institutional quality real estate holdings including shopping centers, office buildings, industrial properties, corporate facilities, hotels and development sites in major urban centers. RBC Capital Markets Real Estate Group is the leading provider of property brokerage, debt and equity solutions for the Canadian real estate market.
About Greenscape Capital Group
Greenscape Capital Group increases environmental sustainability, social responsibility, and profitability of companies and their operations. Greenscape Capital owns 100% of Green.Switch Capital, a Canadian based company focused on dramatically increasing the profitability of commercial facilities through enhanced energy efficiency and environmental best practices. Green.Switch provides full‐service energy retrofitting for commercial clients. The Green.Switch energy retrofit process begins with the assessment of client issues and infrastructure, through to project design, capitalizing improvements, attaining government incentive grants when applicable, contracting, installation and monitoring. When marked opportunities arise, Greenscape also invests in other companies that operate in the environmental space, providing strategic capital and business advisory services to assist companies in achieving their environmental and corporate goals.
Please visit our websites at:
www.greenscapecapital.com
www.greenswitchcapital.com
ON BEHALF OF THE BOARD
"Bryan Slusarchuk"
CEO and Director
Contact Information:
Greenscape Capital Group Inc.
Suite 700 – 510 West Hastings Street
Vancouver, British Columbia
Canada V6B 1L8
info@greenscapecapital.com
Tel. 1‐604‐687‐7130
Investor Relations Contact
KIN communications
ir@kincommunications.com
Toll Free: 1‐866‐684‐6730
Disclaimer for Forward‐Looking Information
Certain statements in this release are forward‐looking statements, which reflect the expectations of management regarding future revenues and contracts. Forward‐looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward‐looking statements will occur, when they will occur, or if they do occur, what benefits the company will obtain from them.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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