Pure Industrial Real Estate Trust Secures Mortgage Financing of $12.3 Million
15 Agosto 2012 - 10:14AM
PR Newswire (Canada)
VANCOUVER, Aug. 16, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") today announced that the REIT has
successfully secured additional mortgage financing for $12,300,000.
PIRET obtained first mortgage financings of $10,620,000 and
$1,680,000 on the properties at 12155 - 154(th) Street, Edmonton,
Alberta and 515 Welham Road, Barrie, Ontario, respectively.
The mortgages bear interest at 4.70% per annum over a term of 20
years. Including the new mortgages, PIRET's weighted average
debt-to-maturity has been extended from 4.9 to 5.6 years. Darren
Latoski, Co-CEO of PIRET said, "This new 20 year mortgage financing
further illustrates our goal of predictability of cash flow through
long term debt maturities. We will continue to actively
manage our cash requirements to achieve the Trust's short- and
long-term objectives." 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 largest publicly
traded REIT 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 TrustSuite 910, 925 West Georgia StreetVancouver, BC V6C
3L2Phone: (604) 681-5959 or (888) 681-5959E-mail:
agreig@piret.caTSX Venture Exchange - AAR.UN
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