MONTREAL, Dec. 18, 2025 /CNW/ - PRO Real Estate Investment Trust ("PROREIT" or the "REIT") (TSX: PRV.UN) today announced the acquisition of a 100% interest in a high-quality industrial property in Winnipeg, Manitoba, totaling 24,665 square feet of gross leasable area ("GLA"), for a total purchase price of $5.4 million (excluding closing costs) from Parkit Enterprise Inc. (TSXV: PKT) ("Parkit"), representing approximately $217 per square foot and a mid-six percent capitalization rate (the "Transaction").
"This accretive industrial property acquisition further strengthens our position in the Winnipeg market where we are now among the top three largest industrial landlords1," said Gordon Lawlor, President and Chief Executive Officer of PROREIT. "This transaction also highlights the value of our strategic relationship with Parkit and our shared commitment to creating long-term growth opportunities for our unitholders," added Mr. Lawlor.
Approximately $2.1 million of the purchase price was satisfied through the issuance of 345,161 PROREIT trust units at $6.20 per unit to Parkit.
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Single-tenant Light Industrial Property
The property, located at 555 Camiel Sys Street in Winnipeg's St. Boniface Industrial Park, is a single-tenant cross-dock facility with excellent access to major transportation routes. It comprises 24,665 square feet of GLA. It is fully occupied by a national logistics tenant under a long-term lease that provides annual rent escalations and a renewal option.
With this acquisition, PROREIT's Winnipeg small- and mid-bay portfolio expands to 23 properties, including one parcel of development land, totalling approximately 1.3 million square feet of GLA.
Financing of the Transaction
The $5.4 million purchase price (excluding closing costs) was satisfied with cash from a $3.5 million expansion of a previously announced $63-million three-year secured non-revolving credit facility, which includes two successive one-year renewal options, at a five-year fixed swap rate of 4.55%, along with the issuance of approximately $2.1 million of trust units to Parkit.
About PROREIT
Founded in 2013, PROREIT (TSX: PRV.UN) is an unincorporated open-ended real estate investment trust focused on owning and operating a portfolio of high-quality light industrial properties in Canada. With a presence in robust primary and secondary markets, PROREIT is committed to delivering stable cash flows, disciplined growth and long-term value creation for its unitholders. For more information on PROREIT, please visit the website at: https://proreit.com.
Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities legislation, including statements relating to certain expectations, projections, growth plans and other information related to REIT's business strategy and future plans. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond PROREIT's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements pertaining to the execution of PROREIT's strategy and the impact of the Transaction on the portfolio of the REIT. PROREIT's objectives and forward-looking statements are based on certain assumptions, including that (i) PROREIT will receive financing on favourable terms; (ii) the future level of indebtedness of PROREIT and its future growth potential will remain consistent with the REIT's current expectations; (iii) there will be no changes to tax laws adversely affecting PROREIT's financing capacity or operations; (iv) the impact of the current economic climate and the current global financial conditions on PROREIT's operations, including its financing capacity and asset value, will remain consistent with PROREIT's current expectations; (v) the performance of PROREIT's investments in Canada will proceed on a basis consistent with PROREIT's current expectations; and (vi) capital markets will provide PROREIT with readily available access to equity and/or debt.
The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. PROREIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law.
Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in PROREIT's latest annual information, which is available under PROREIT's profile on SEDAR+ at www.sedarplus.ca.
SOURCE PROREIT
For further information: Investor Relations: PRO Real Estate Investment Trust, Gordon G. Lawlor, CPA, President and Chief Executive Officer, 514-933-9552; PRO Real Estate Investment Trust, Alison J. Schafer, CPA, Chief Financial Officer and Secretary, 514-933-9552
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