/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Dec. 27, 2012 /CNW/ - Pure Industrial Real Estate Trust (TSX:
AAR.UN) ("PIRET") announced today that it has completed the issuance of
963,900 trust units at a price of $4.75 per trust unit pursuant to the
partial exercise of the over-allotment option granted to the syndicate
of underwriters led by Canaccord Genuity Corp., as lead underwriter,
and including Dundee Securities Inc., RBC Dominion Securities Inc.,
National Bank Financial Inc., Raymond James Ltd., Scotia Capital Inc.,
BMO Nesbitt Burns Inc., CIBC World Markets Inc., Macquarie Capital
Markets Canada Ltd., GMP Securities L.P., HSBC Securities (Canada)
Inc., M Partners Inc., and Sora Group Wealth Advisors Inc.
(collectively, the "Underwriters").
The over-allotment option was granted by PIRET to the Underwriters in
connection with PIRET's previously announced public offering (the
"Offering") which was completed on December 12, 2012. Including the
over-allotment, PIRET issued 11,493,900 trust units for aggregate gross
proceeds of $54,596,025. PIRET now has 84,917,888 trust units
PIRET intends to use the net proceeds from the Offering to fund
prospective acquisitions of income producing industrial properties and
for general working capital purposes.
PIRET's units are listed on the Toronto Stock Exchange under the symbol
About Pure Industrial Real Estate Trust
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 internally managed 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.
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often, but
not always, identified by the use of words such as "anticipate",
"plan", "expect", "may", "will", "intend", "should", and similar
expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events
to differ materially from those anticipated in such forward-looking
statements. The forward-looking statements contained in this news
release are based on certain key expectations and assumptions made by
PIRET, including: PIRET intends to use the net proceeds from the
Offering to fund prospective acquisitions of income producing
industrial properties and for general working capital purposes.
Although PIRET believes that the expectations and assumptions on which
the forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because PIRET
can give no assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated
due to a number of factors and risks. These include, but are not
limited to, competitive factors in the industries in which PIRET
operates, prevailing economic conditions, and other factors, many of
which are beyond the control of PIRET.
The forward-looking statements contained in this news release represent
PIRET's expectations as of the date hereof, and are subject to change
after such date. PIRET disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required under
applicable securities regulations.
THE TORONTO STOCK 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
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 681-5959 or (888) 681-5959
TSX - AAR.UN