Pure Industrial Real Estate Trust announces Q3-07 results, schedules conference call



    VANCOUVER, Nov. 8 /CNW/ - Pure Industrial Real Estate Trust ("PIRET")
(TSXV: AAR.UN) today announced the release of its financial results for the
period ended September 30, 2007. The results, consisting of PIRET's audited
interim consolidated financial statements for the 38 day period ended
September 30th, and Management's Discussion and Analysis dated November 6,
2007, are available on SEDAR (www.sedar.com) and www.piret.ca.

    
    -------------------------------------------------------------------------
           Financial Snapshot for Period ended September 30, 2007
    -------------------------------------------------------------------------
    Gross Leasable Area ("GLA")                                      469,641
    -------------------------------------------------------------------------
    Occupancy                                                           100%
    -------------------------------------------------------------------------
    Acquisitions Made ($)                                       $ 40,345,000
    -------------------------------------------------------------------------
    Mortgage Debt-to-Gross Book Value ("GBV")                          59.4%
    -------------------------------------------------------------------------
    Equity Raised ($)                                           $ 22,315,798
    -------------------------------------------------------------------------
    Payout Ratio                                                      99.73%
    -------------------------------------------------------------------------
    Cash Available for Acquisitions                             $  4,202,879
    -------------------------------------------------------------------------
    Distribution                                                $   0.30 p.a.
    -------------------------------------------------------------------------
    

    Conference Call

    Darren Latoski and Steve Evans, Trustees for PIRET, will host a
conference call at 5:30pm (EST), 2:30 pm (PST), on Tuesday, November 13th,
2007, to review the financial results and corporate developments for the
38 day period ended September 30th, 2007.
    To participate in this conference call, please dial one of the following
numbers approximately 10 minutes prior to the commencement of the call, with
the Conference ID No. 1577582.

    
    Toll Free Dial In:    1-866-792-1316
    Local Dial In:        604-678-9970
    

    If you are unable to participate, a replay will be available 30 minutes
after the meeting end, and will be available for rebroadcast on our website
www.piret.ca under the Investor Information section.
    Mr. Latoski said, "We are very pleased with the progress PIRET has made
in a very short time. PIRET has been formed to capitalize on tangible
opportunities in industrial real estate.
    Now that our industrial REIT has successfully completed the IPO and begun
trading on the TSX Venture Exchange, PIRET is turning its attentions to our
acquisitions program. We will continue to make strategic acquisitions at
prudent pricing that will be accretive to PIRET's earnings and enhance our
reputation in the investment and real estate communities as an emergent buyer
of industrial real estate in Canada.
    PIRET has decided to focus on a conservative growth model which includes
a cautious distribution strategy in spite of having over $4 million in cash.
PIRET's available cash will be used for future acquisitions which will drop
our payout ratio even lower."

    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 will focus exclusively on investing in industrial
properties and will be 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.

    Forward-Looking Statements
    --------------------------
    The comments and highlights herein should be read in conjunction with the
consolidated financial statements and management's discussion and analysis for
the same period. These documents are available on the SEDAR website at
www.sedar.com. They are also posted on the PIRET web site at www.piret.ca.
    Certain statements in this press release may constitute "forward-looking"
statements that involve known and unknown risks, uncertainties and other
factors that may cause our actual results, performance or achievements or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. When used in this press release, such statements often use, but
are not limited to, such words as "may", "will", "expect", "should",
"believe", "intend", "plan", "anticipate", "potential", and other similar
terminology. These statements reflect current expectations of management
regarding future events and operating performance and speak only as of the
date of this press release. Forward-looking statements involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate indications of
whether or not such results will be achieved. A number of factors could cause
actual results to differ materially from the results discussed in the
forward-looking statements, including, but not limited to, the following
factors: competitive and economic environment, the results of due diligence
inquiries and negotiation of acquisition documents, impact of changes to tax
treatment of income trusts or dividend tax credits, foreign exchange,
seasonality, inability to close or realize accretive benefits from
acquisitions, fluctuation of cash distributions and nature of trust units.
Although the forward-looking statements contained in this press release are
based upon what PIRET management believes to be reasonable assumptions, PIRET
cannot assure investors that actual results will be consistent with these
forward-looking statements. These forward-looking statements are made as of
the date of this press release and PIRET assumes no obligation to update or
revise them to reflect new events or circumstances.

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.





For further information:

For further information: Darren Latoski, Trustee 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
1-888-681-5959, E-mail: agreig@piret.ca, www.piret.ca

Organization Profile

Pure Industrial Real Estate Trust (PIRET)

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890