Pure Industrial Real Estate Trust Announces Acquisition of a Fully Leased Industrial Property for $10.555 Million
11 Abril 2012 - 8:42PM
PR Newswire (Canada)
VANCOUVER, April 12, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") today announced the successful closing of a
fully leased single tenant, income producing industrial property
for a total purchase price of $10,555,333. The property is located
at 2440 Winston Park Drive, in Oakville, Ontario, has a total
rentable area of 94,988 square feet is situated on 5.074 acres and
is LEED Silver certified. The property is 100% leased to a private
pharmaceutical technology firm until February 2018. PIRET acquired
the property on an all cash basis and funded the acquisitions with
equity from the bought deal financing announced January 25,
2012. The asset was acquired at an attractive capitalization
rate of 6.75%. After completing this transaction, PIRET's portfolio
will total approximately 4.7 million square feet, with 36% of the
properties located in the Greater Toronto Area. PIRET's units are
listed on the TSX Venture Exchange under the symbol AAR.UN. For
more information on PIRET, visit our website at www.piret.ca. 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
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (as that term is defined in the policies of the TSX
Venture Exchange) HAS REVIEWED OR ACCEPTS 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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