UFC Urbanfund Corp

Mitchell Cohen, President and Chief Executive Officer of Urbanfund Corp. (TSX
VENTURE:UFC) ("Urbanfund" or the "Company"), announced today that Urbanfund has
entered into a conditional purchase agreement with an arm's length party for the
acquisition of 10% of an 1,870 unit multi-family residential portfolio located
in Quebec City and Montreal, Quebec (the "Portfolio"). 


The total purchase price for the 10% purchase is approximately $7,225,000 prior
to customary adjustments. The average "going in" capitalization rate of this
transaction is estimated at 6.40%. Most of the properties included in the
transaction have existing mortgages at competitive market rates. Of the 1,870
units, 312 are located in Montreal with the remainder in Quebec City.


The remaining 90% of the Portfolio continues to be owned by Westdale
Construction Co. Limited ("Westdale"). Mr. Ronald S. Kimel, the Chairman and
Director of Urbanfund, is the principal shareholder of Westdale. Property
Management will be done by La Corporation Headway Ltee which is owned 10% by
Urbanfund and 90% by Westdale.


The transaction is conditional on Urbanfund completing due diligence to its
satisfaction, securing the approval of the current lenders and satisfying any
regulatory requirements (including approval of the TSX Venture Exchange).
Closing is expected to occur in late February 2013. Satisfaction of the purchase
price will be through a combination of cash on-hand and a vendor take-back
mortgage at competitive rates. 


Urbanfund Corp. is a Toronto-based real estate development and operating
company. The Company's focus is to identify, evaluate and invest in real estate
or real estate projects. The Company's assets are located in Toronto, Belleville
and London, Ontario. The Company is a reporting issuer in Alberta, British
Colombia and Ontario. The Company's common shares trade on the TSX Venture
Exchange under the symbol 'UFC'.


FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, which reflect
Management's expectations regarding the Company's growth, results of operations,
performance and business prospects and opportunities. Statements about the
completion of the acquisition constitute forward-looking statements. Wherever
possible, words such as "may", "will", "should", "could", "expect", "plan",
"intend", "anticipate", "believe", "estimate", "predict" or "potential" or the
negative or other variations of these words, or similar words or phrases, have
been used to identify these forward-looking statements. These statements reflect
Management's current beliefs and are based on information currently available to
management as at the date hereof.


Forward-looking statements involve significant risk, uncertainties and
assumptions. Many factors could cause actual results, performance or
achievements to differ materially from the results discussed or implied in the
forward-looking statements. These factors should be considered carefully and
readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions, the Company
cannot assure readers that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made as of the
date of this press release, and the Company assumes no obligation to update or
revise them to reflect new events or circumstances, except as required by law.
Many factors could cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements that may be expressed or implied by such forward-looking
statements, including: general economic and market segment conditions, interest
rates, costs outside of the Company's control such as Real Estate Taxes and
utilities, the ability of tenants to satisfy their contractual rent obligations
and any unforeseen repair, maintenance or replacement of the Company's assets.
More detailed assessment of the risks that could cause actual results to
materially differ than current expectations is contained in the "Risks and
Uncertainties" section of the Company's most recent Management's Discussion and
Analysis.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Urbanfund Corp.
Mitchell Cohen
President & CEO
(416) 703-1877 x1025

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