PURE INDUSTRIAL REAL ESTATE TRUST ANNOUNCES NEW $15.1MM ACQUISITION
04 Luglio 2011 - 11:32PM
PR Newswire (Canada)
VANCOUVER, July 4, 2011 /CNW/ -- VANCOUVER, July 4, 2011 /CNW/ -
Pure Industrial Real Estate Trust ("PIRET") (TSXV: AAR.UN) today
announced an unconditional agreement to purchase a fully leased
multi-tenant income producing industrial property (the "Property")
located 1725 Inkster Boulevard in Winnipeg, Manitoba for a total
purchase price of $15,100,000. The Property is 265,843 square feet
in total and sits on approximately 12.77 acres of land. The
Property is centrally located in the Inkster Business Park,
Winnipeg's largest industrial park. The purchase price of $15.1
million represents a going-in unlevered annual return
("Capitalization Rate") of 7.6%. The acquisition is anticipated to
close prior to July 30th, 2011. The purchase price will be
satisfied with cash on hand and proceeds from new mortgage
financing of $10.0 million, bearing interest at 5.05% per annum,
with a ten year term maturing in 2021. For more information on
PIRET, visit our website at www.piret.ca. FORWARD-LOOKING
STATEMENTS Certain information in this press release contains
forward-looking information within the meaning of applicable
securities laws (also known as forward-looking statements)
including, among others, statements made or implied under the
headings "Results of Operations", "Financial Conditions",
"Liquidity and Capital Resources", "Risks and Uncertainties" and
"Outlook" relating to PIRET's objectives, strategies to achieve
those objectives, beliefs, plans, estimates, projections and
intentions; and similar statements concerning anticipated future
events, results, circumstances, performance or expectations that
are not historical facts. Forward-looking statements generally can
be identified by words such as "outlook", "believe", "expect",
"may", "anticipate", "should", "intend", "estimates" and similar
expressions. Forward-looking statements are provided for the
purpose of presenting information about management's current
expectations and plans relating to the future and readers are
cautioned that such statements may not be appropriate for other
purposes. Forward-looking statements involve significant risks and
uncertainties and should not be read as guarantees of future
performance or results. Those risks and uncertainties include,
among other things, risks related to: unit prices; liquidity;
credit risk and tenant concentration; interest rate and other debt
related risk; tax risk; ability to access capital markets; lease
rollover risk; competition for real property investments;
environmental matters; changes in legislation and indebtedness of
PIRET. Management believes that the expectations reflected in
forward-looking statements are based upon reasonable assumptions
and information currently available; however, management can give
no assurance that actual results will be consistent with these
forward-looking statements. Factors and assumptions that were
applied in drawing conclusions and could cause actual results,
performance, or achievements to differ materially from those
expressed or implied by forward-looking statements, include, but
are not limited to, general economic conditions, competition for
real property investments, the availability of new competitive
supply of commercial real estate, PIRET's ability to maintain
occupancy, tenant defaults, changes in interest rates, changes in
governmental regulations and taxation, and PIRET's ability to
obtain adequate insurance and financing. Readers are cautioned that
the foregoing list of factors that may affect future results is not
exhaustive. When relying on forward-looking statements to make
decisions with respect to PIRET, investors and others should
carefully consider the foregoing factors and other uncertainties
and potential events. These forward-looking statements are
made as of July 4, 2011 and PIRET assumes no obligation to update
or revise them to reflect new events or circumstances, except as
required by law. 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. THE TSX VENTURE
EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR THE ACCURACY OF THIS RELEASE. To view this news
release in HTML formatting, please use the following URL:
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Andrew Greig, Director of Investor Relations /p p bPure Industrial
Real Estate Trust (PIRET)/bbr/ Suite 910, 925 West Georgia
Streetbr/ Vancouver, BC V6C 3L2br/ Phone: (604) 681-5959 or (888)
681-5959br/ E-mail: a
href="mailto:agreig@piret.ca"agreig@piret.ca/abr/ a
href="http://www.piret.ca"www.piret.ca/a /p
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