Rebel Capital Inc., a capital pool company based in Vancouver, has entered a non-binding letter of intent with Chief Commercial Construction L.P. to acquire property in Pittsburgh for $32 million. The 7.65-acre site contains a 91,790 square foot data center with a three-story connected 43,800 square foot office property.
The transaction is subject to regulatory approval and a number of additional conditions. Rebel has 60 days to conduct due diligence on the property.
Rebel also expects to complete a brokered private placement of subscription receipts for gross proceeds of approximately $25 million to fund a portion of the purchase price.