Clark Wilson client Pure Industrial Real Estate Trust (PIRET) successfully closed the purchase of a multi-tenant income producing industrial property on February 20, 2013, for $32,320,000. James Speakman worked on the deal for the property, which has a gross leasable area of 279,742 square feet and is 100% leased. PIRET is listed on the TSX under the symbol AAR.UN.
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Our strata corporation has a painting that was provided by the developer as per the disclosure statement. We have had the painting appraised and found out it is worth $60,000. The strata council wants to sell it and use the money for future expenses of the strata corporation. Is this allowed?