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TSX - AAR.UN
VANCOUVER, Feb. 14, 2013 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") (TSX: AAR.UN) today announced the successful
closing of three of the four properties within the Edmonton Portfolio
referred to in its January 21, 2013 news release. The acquired
properties consist of two single-tenant and one fully leased
multi-tenant, income producing industrial properties, and were acquired
for a total purchase price of $21,800,000.
The acquired properties are located at11307 and 11329 - 166A Street NW,
12900 - 148th Street NW and 11415 - 168th Street NW, in Edmonton, Alberta. They have a total gross leasable area
("GLA") of 264,941 square feet and are 100% leased to three regional
PIRET acquired the properties using equity from the bought deal
financing that closed on February 12, 2013 and intends to obtain
mortgage financing in an amount representing approximately 65% of the
purchase price at an interest rate of approximately 4.18% per annum,
for a term of 10 years. The properties were acquired at a going-in
capitalization rate of 6.74%.
After completing this transaction, PIRET's portfolio will total 91
properties with GLA of approximately 7.6 million square feet.
PIRET continues its due diligence on the fourth property within the
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 largest internally managed publicly traded REIT in Canada
that offers investors exclusive exposure to Canada's industrial asset
Additional information about PIRET is available at www.piret.ca or www.sedar.com.
The Toronto Stock Exchange has not reviewed nor approved the contents of
this press release and does not accept responsibility for the adequacy
or accuracy of this press 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