Pure Industrial Real Estate Trust announces closing of $9.7 million acquisition
13 Marzo 2012 - 2:48PM
PR Newswire (Canada)
VANCOUVER, March 16, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") today announced the successful closing of a
single tenant, fully leased income producing industrial property
for a total purchase price of $9,700,000. The property is located
at 1345 Redwood Avenue in Winnipeg, Manitoba, has a total rentable
area of 112,340 square feet and is situated on 9.9 acres, with 4.0
acres of future development land. The property is 100% leased until
January 2016 to Boeing Canada Operations Ltd., a subsidiary of The
Boeing Company, the world's leading aerospace company and the
largest manufacturer of commercial jetliners and military
aircrafts. PIRET acquired the property with equity from the bought
deal financing announced January 25, 2012 and with a first mortgage
financing of $6.5 million at an expected interest rate of 3.85% and
maturing in five years. The asset was acquired at an
attractive capitalization rate of 7.76%. After completing this
transaction, PIRET's portfolio will total approximately 4.6 million
square feet. 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
both primary and secondary 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. 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 TSX
Venture Exchange - AAR.UN
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