Scott's REIT sells promissory note to Obelysk

By Laura Lutz

Washington, Feb. 15 - Scott's Real Estate Investment Trust closed a private placement of a promissory note with Obelysk Inc.

The 8.5% note will mature on Dec. 31, 2007. The size of the note was not announced.

Proceeds were used to partially fund Scott's recently completed C$7.74 million acquisition of three retail center properties in Thunder Bay, Ont.

Obelysk owns a 31.1% interest in Scott's.

Toronto-based Scott's owns small-box retail properties in Canada.

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