ZoomerMedia sells property in lease back deal

TORONTO – Moses Znaimer’s ZoomerMedia Limited has sold its Toronto property to Allied Properties REIT for $31 million, and agreed to enter into an agreement to lease the property from Allied.The 2.6 acre property and buildings are located at 30, 64 and 70 Jefferson Avenue, (a.k.a. the Zoomerplex), in the Liberty Village area of Toronto.The sale is expected to close March 29, 2016 subject to normal conditions. The company said that it will use the proceeds from the sale to retire debt and for working capital purposes.www.zoomermedia.ca