VANCOUVER, Nov. 13, 2014 /CNW/ - Pure Multi-Family REIT
LP ("Pure Multi") (TSXV: RUF.U, RUF.UN, RUF.DB.U; OTCQX:
PMULF) today announced that it has entered into an agreement to
sell Windscape Apartment Homes ("Windscape"), located in
Grand Prairie, Texas, a submarket
of Dallas-Fort Worth, for gross
proceeds of US$10.5 million.
The sale is expected to close in early December 2014.
Windscape is comprised of 154 residential units, situated on 8.5
acres of land and was built in 1985. Pure Multi acquired
Windscape in July 2012 for
US$8.4 million. As part of Pure
Multi's commitment to create value for its unitholders through
selective dispositions of its Class B assets, Pure Multi
anticipates using the net proceeds from this sale to improve the
overall quality of the portfolio by acquiring a high-quality Class
A property.
About Pure Multi-Family REIT LP
Pure Multi is a Canadian based, publically traded vehicle which
offers investors exclusive exposure to attractive, institutional
quality U.S. multi-family real estate assets.
Additional information about Pure Multi is available at
www.puremultifamily.com or www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
SOURCE Pure Industrial Real Estate Trust (PIRET)