Pure Industrial Real Estate Announces Closing of $22.125 Million Acquisition
21 Fevereiro 2012 - 2:19AM
PR Newswire (Canada)
VANCOUVER, Feb. 24, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or "REIT") today announced the successful completion of
the purchase of a multi-tenant, income producing industrial
property for a total purchase price of $22,125,000. The property is
located at 925 - 931 Brock Road in Pickering, Ontario, has a total
rentable area of 325,680 square feet, and is situated on 20.08
acres. The property is leased to quality international and regional
tenants and has six acres of additional land that will allow future
expansion of the building by approximately 120,000 square feet.
PIRET acquired the property on an all cash basis and funded the
acquisition with equity from the bought deal financing announced
January 11, 2012 and completed on January 26, 2012. The REIT
expects to finance the property within the next 30 days with a
first mortgage of $14.4 million. The asset was acquired at an
attractive capitalization rate of 8.0%. After completing this
transaction, PIRET's portfolio will total approximately 4.45
million square feet, with greater than 44% of the portfolio's gross
leasable area in the Greater Toronto Area. PIRET's units are listed
on the TSX Venture Exchange under the symbol AAR.UN. About Pure
Industrial Real Estate Trust (PIRET) PIRET is an unincorporated,
open-ended investment trust established for the purposes of
acquiring, owning and operating a diversified portfolio of
income-producing industrial properties in primary markets across
Canada. PIRET focuses exclusively on investing in industrial
properties and is the only publicly traded vehicle in Canada that
offers investors exclusive exposure to Canada's industrial asset
class. Additional information about PIRET is available at
www.piret.ca or www.sedar.com. TSX Venture Exchange - AAR.UN THE
TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
Pure Industrial Real Estate Trust (PIRET) CONTACT: Andrew
Greig,Director of Investor RelationsPure Industrial Real Estate
Trust (PIRET)Suite 910, 925 West Georgia StreetVancouver, BC V6C
3L2Phone: (604) 681-5959 or (888) 681-5959E-mail:
agreig@piret.cawww.piret.ca
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