VANCOUVER, April 15 /CNW/ - Pure Industrial Real Estate Trust ("PIRET"
or the "REIT") (TSXV: AAR.UN) today announced the successful closing of
a fully leased, single tenant, income producing industrial property for
a total purchase price of $5,074,313.
The property is located at 80 Rooney Crescent in Moncton, New Brunswick,
has a total rentable area of 81,180 sq.ft. and is located in the
desirable Moncton Industrial Park. The property was acquired on a
sale-leaseback basis and is 100% leased to Uni-Select, a publically
traded (UNS-T) distributor of automotive parts, tools, accessories and
supplies. Uni-Select has entered into a ten year net lease with PIRET.
PIRET acquired this asset at a favorable going-in cap rate of 8.0% and
funded the acquisitions on an all cash basis with equity from the
bought deal financing announced January 27, 2011.
After completing this acquisition and as previously announced, PIRET
will have acquired more than 1.6 million square feet of income
producing properties valued at more than $200 million since January
PIRET's units are listed on the TSX Venture Exchange under the symbol
AAR.UN. For more information on PIRET, visit our website at www.piret.ca.
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.
SOURCE Pure Industrial Real Estate Trust (PIRET)
For further information:
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