VANCOUVER, Sept. 8 /CNW/ - Pure Industrial Real Estate Trust ("PIRET")
(TSXV: AAR.UN) is pleased to announce the appointment of two new independent
trustees, Ryan Beedie and Jim Bogusz, to the Board of Trustees.
"We are very pleased to announce the addition of Mr. Beedie and Mr.
Bogusz to our Board of Trustees," said Darren Latoski, Acting CEO of PIRET.
"As Canada's only pure-play industrial REIT, we believe there will be many
benefits in working with The Beedie Group, Western Canada's largest industrial
landlord. The addition of these two new trustees will complement the strengths
of PIRET's existing Trustees."
In addition to appointing Mr. Beedie and Mr. Bogusz, the Board of
Trustees also consented to increase the number of Trustees of PIRET from six
to eight Trustees.
Ryan Beedie is President of The Beedie Group, a family-owned-and-operated
real estate development company that specializes in the design, construction
and management of industrial and commercial buildings. Ryan Beedie has unique
expertise in the industrial real estate sector, combining over fifteen years
of operational and managerial experience in acquiring and developing
industrial real estate assets in Western Canada. He has a large network of
contacts across all facets of the Canadian industrial real estate industry.
Mr. Beedie holds an MBA from the University of British Columbia.
Since Ryan became President in 2001, The Beedie Group has built over 17
million square feet of industrial real estate across British Columbia, and
currently owns and operates a portfolio representing over 6 million square
feet of industrial buildings. In addition, The Beedie Group owns significant
land positions in major industrial locations in Metro Vancouver, the Fraser
Valley and Alberta.
Mr Beedie is also President of Beedie Industrial Projects Ltd.
("Industrial"), an affiliate of The Beedie Group. On July 31, 2009, Industrial
acquired 1,064,900 units of PIRET, representing 13.6% of the issued and
outstanding units of PIRET. Prior to this acquisition, neither Industrial nor
The Beedie Group owned any Units of PIRET.
Jim Bogusz is Chief Financial Officer of The Beedie Group, responsible
for financial management, information systems and financial reporting. Jim has
extensive experience in real estate mergers & acquisitions, corporate strategy
and guidance of companies through growth and significant change. Prior to
joining The Beedie Group, he was the CFO of one of Canada's largest private
real estate lending groups. Prior to that, he was the Vice President Finance
for a major real estate development and construction company.
Mr. Bogusz also holds numerous board positions including acting as an
independent director of BC's largest road maintenance company. A graduate of
Simon Fraser University, Jim has been a chartered accountant since 1986 and is
a member of the Canadian Institute of Chartered Accountants.
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 both primary and secondary 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Darren Latoski, Acting Chief Executive Officer,
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, E-mail: email@example.com,