Pure Industrial Real Estate Trust Provides Update on Recent Operations
20 Febbraio 2012 - 1:25PM
PR Newswire (Canada)
VANCOUVER, Feb. 22, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or "REIT") today provides an update on recent operational
activities. PIRET has refinanced $23 million of existing mortgages
on eight properties. The net result of the refinancing is a
reduction in the average interest rate on these mortgages of 180
basis points or 35%, and a savings of approximately $243,000 per
annum. The new mortgages have a term of five years and an
amortization of 25 years, with the resultant portfolio effect of
extending PIRET's weighted average debt-to-maturity from 5.1 years
to 5.5 years and decreasing the weighted average interest rate from
4.80% to 4.63%. PIRET also announces that it has finalized an early
lease renewal with Martin Brower of Canada Co., located in 36,728
square feet at 1725 Inkster Boulevard, a multi-tenant industrial
warehouse in Winnipeg, MB that PIRET acquired on July 14, 2011. The
new lease commenced December 1, 2011 at net rental rates higher
than the expiring term, with built in contractual rent increases.
PIRET has also renewed the Shanahan's Limited Partnership leases,
totaling 68,405 square feet, in Calgary, AB and Winnipeg, MB. These
new leases have been renewed at rates 6% higher than the expiring
rates, with rent steps over the term. "These refinancings and lease
renewals are in keeping with PIRET's active asset management
strategy and further our goal of predictability of cash flow
through long term, net leases and debt maturities," said Darren
Latoski, Co-CEO of PIRET. Finally, PIRET announces that for the
second year in a row the TSX Venture Exchange has ranked PIRET in
the top ten listed companies in the Diversified Industries category
in the 2012 TSX Venture 50. The 2012 TSX Venture 50 is comprised of
ten companies from each of five sectors; Clean Technology, Mining,
Oil & Gas, Diversified Industries, and Technology & Life
Sciences. The 2012 TSX Venture 50 companies were chosen based on
the following criteria, with equal weighting assigned to each:
share price appreciation, trading volume, market capitalization
growth and analyst coverage. 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
Copyright
Grafico Azioni Pure Industrial Real Estate Trust (TSXV:AAR.UN)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Pure Industrial Real Estate Trust (TSXV:AAR.UN)
Storico
Da Lug 2023 a Lug 2024
Notizie in Tempo Reale relative a Pure Industrial Real Estate Trust (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Pure Industrial Real Estate Trust Articoli Notizie