VANCOUVER, Feb. 1, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") (TSXV: AAR.UN) today announced the successful
completion of the purchase of a single tenant, fully leased income
producing industrial property for a total purchase price of $4,450,000.
The property is located in the Greater Vancouver Area at 7830 Vantage
Way, Delta, British Columbia, has a total rentable area of 46,300
square feet and is situated on 2.12 acres. The property is 100% leased
until September, 2016 to Zodiac Hurricane Technologies Inc., an
international manufacturer of military and commercial grade boats.
PIRET acquired the property on an all cash basis and funded the
acquisition with equity from the bought deal financing announced
January 11, 2012 and completed on January 26, 2012. The asset was
acquired at a capitalization rate of 6.50%.
After completing this transaction, PIRET's portfolio will total
approximately 4.2 million square feet, with greater than 16% of the
portfolio's gross leasable area in the Greater Vancouver Area.
PIRET's units are listed on the TSX Venture Exchange under the symbol
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
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:
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