Mr. Rick Baxter reports

PROPARK REAL ESTATE CLOSES $18,600,000 ACQUISITION

Parkit Enterprise Inc., Propark Inc. and Propark-officer-owned Parking Real Estate LLC have successfully closed the Expresso Airport Parking acquisition, previously announced on April 7, 2014, for a total purchase price of $18.6-million (U.S.). Expresso is a 14-acre off-airport parking facility located in San Leandro, Calif., servicing the Oakland International Airport. Propark has been the parking manager of the property for over 13 years since February, 2001.

Expresso represents the first asset close into the parking acquisition platform between Parking Real Estate and Parkit Enterprise.

David Schmid, chief investment officer of Propark America, states: "This transaction is the first of many in a deep pipeline of quality, income-producing assets.

"Expresso will be a cornerstone asset for our institutional equity platform."