Pure Industrial Real Estate Trust Announces Closing of Previously Announced Fully Leased Industrial Property For $8.25 Million
28 Giugno 2012 - 11:02PM
PR Newswire (Canada)
VANCOUVER, June 29, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") announced today the successful closing of a
fully leased single tenant, income producing industrial property
for a total purchase price of $8,250,000. The property is located
at 6800 Rexwood Road in Mississauga, ON, has a total gross leasable
area ("GLA") of 101,039 square feet and is situated on a 4.44 acre
site. It is 100% leased on a fully net basis to a strong
regional food distribution tenant. PIRET acquired the property on
an all cash basis and funded the acquisition with funds from the
bought deal equity financing that closed on March 1, 2012. PIRET
will finance the asset post-closing with a new first mortgage of up
to 65% of purchase price at an anticipated rate of no more than
3.80%. The asset was acquired at a going-in capitalization rate of
6.74% excluding any management or administration fees. After
completing this transaction, PIRET's portfolio will total 71
properties with GLA of 5.1 million square feet. The REIT's
year-to-date acquisitions are summarized below: Price Cap Address
Municipality GLA (sf) ($million) Rate Occupancy 7830 Vantage Way
Delta, BC 46,300 $ 4.45 6.50% 100% 925 - 931 Brock Pickering, ON
325,680 22.13 8.00% 93% Road 1345 Redwood Winnipeg, BC 112,340 9.70
7.76% 100% Avenue 2440 Winston Park Oakville, ON 94,988 10.56 6.75%
100% Drive 230 Barmac Drive North York, ON 118,225 7.27 6.50% 100%
2030 Notre Dame Winnipeg, MB 108,238 8.10 7.68% 100% Avenue 515
Welham Road Barrie, ON 45,217 2.70 8.00% 100% 12155 - 154th
Edmonton, AB 138,964 16.80 8.00% 100% Street 6800 Rexwood Road
Mississauga, ON 101,039 8.25 6.74% 100% 1,090,991 $ 89.96 7.49% 98%
Redemption of Restricted Units PIRET also announces today the
issuance of 18,357 Class A Units (the "Units") of the REIT as of
June 28, 2012 to a trustee who exercised the right to redeem
Restricted Units which vested under PIRET's Restricted Unit Plan on
March 6, 2012. The Units were issued at a redemption price of $4.64
per Unit for total value of $85,176.48. After the issuance of the
Units, PIRET has 66,483,054 Units issued and outstanding. 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. Andrew Greig, Director of Investor
Relations Pure Industrial Real Estate Trust (PIRET) Suite 910, 925
West Georgia Street Vancouver, BC V6C 3L2 Phone: (604)
681-5959 or (888) 681-5959 E-mail: agreig@piret.ca www.piret.ca 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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