A small real estate operating company changes shape

Tempus Capital (CN:TEMP) is selling two Investment properties in London, Ontario, and that transaction explains why the company is in focus ahead of its scheduled closing on 12 November 2026. The sale turns bricks-and-mortar holdings into cash and shifts the company towards a more flexible balance sheet.

According to its own description, Tempus is a real estate operating company that acquires, develops and owns income-producing properties in Canada, with a focus on strip malls, storefront retail and mixed residential and commercial buildings. It is a reporting issuer in British Columbia, Ontario and Alberta, and its shares trade on the Canadian Securities Exchange under the symbol TEMP.

What the October sale involves

In a release dated 1 October 2026, Tempus said it had agreed to sell its properties at 605 and 723 Richmond Street in London, Ontario. The consideration is $4,625,000 in cash plus a first Mortgage of $450,000, giving a headline value of $5,075,000 if the mortgage is counted in full.

Several details were not disclosed. The buyer is not named, the carrying value of the properties is not given, the terms of the mortgage are not explained, and the release does not say whether the purchaser is a related party. Without a carrying value, readers cannot judge whether the sale produces a gain or loss against the books.

A pattern of selling in London

The sale is consistent with earlier activity. In July 2023 the company agreed to sell a commercial plaza in Strathroy, Ontario for $6,650,000 in cash, closing that month, and declared a Cash Dividend of $0.05 per share. In September 2023 it sold 310 Springbank Drive in London for $1,500,000, with part of the price taken as an assumed mortgage and a vendor take-back loan.

Taken together, these sales suggest a steady recycling of older commercial assets, though the asset base becomes smaller with each disposal.

Where the proceeds may go

Management said the proceeds would strengthen the Balance Sheet and provide a substantial cash position, allowing the company to pursue other opportunities to enhance Shareholder value. No specific opportunity was named.

One clear direction is Toronto. In March 2026 Tempus announced a joint development agreement with TUK Group for a project delivering up to 14 residential units, which together with TUK's units would total 28. Completion is targeted for fall 2027. The project forms part of a $100 million investment programme first announced on 10 April 2025, and the company said several additional opportunities were under contract.

The same March release disclosed that director Brian Roberts had resigned, with a replacement to be appointed, and that Tempus had completed Due Diligence on a proposed transaction with Oak Street Partners, first announced in September 2025, and decided not to proceed at this time.

Risks and uncertainties

Development projects carry construction, financing and timing risk, and the 2027 completion date could move. The release does not set out conditions that could delay closing of the sale. A larger cash balance is only useful if deployed prudently, and no next use has been identified.

A company with few Assets is exposed to each one, and its disclosures rely on short news releases. The releases carry the usual forward-looking statement cautions, and the Canadian Securities Exchange does not accept responsibility for their accuracy.

What to watch next

The first milestone is the scheduled closing on 12 November 2026. After that, readers should look for confirmation that the sale completed, any disclosure of the gain or loss, and an update on how the cash will be used.

Further milestones include the Toronto joint development, a new director, and the next financial statements, which should show the effect of the sale.