VANCOUVER, June 15, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") (TSXV: AAR.UN) announced today it has sold the
industrial property located at 4311 - 122nd Avenue SE in Calgary, Alberta to a private buyer for gross proceeds of
PIRET acquired this property as part of a $70,145,000 portfolio on June
8, 2011. This single tenant industrial facility has a gross leasable
area of 29,943 square feet.
"The purchase price is significantly above our acquisition cost and we
believe this transaction demonstrates PIRET's ability to acquire
quality assets at attractive pricing. This property disposition also
illustrates management's ability to actively manage our portfolio to
maximize returns to our investors over and above our accretive
acquisition program." said Darren Latoski, Co-CEO of the REIT.
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
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.
SOURCE Pure Industrial Real Estate Trust (PIRET)
For further information:
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