VANCOUVER, May 23, 2018 /CNW/ - Pure Industrial
Real Estate Trust (TSX: AAR.UN) (the "Trust") announces today that
it anticipates the closing of the previously-announced plan of
arrangement, pursuant to which an affiliate of Blackstone Property
Partners, the Core+ real estate investment unit of Blackstone, and
IvanhoƩ Cambridge, a subsidiary of
CDPQ, would acquire all of the issued and outstanding trust units
of the Trust (each, a "Unit") for $8.10 per Unit in cash (the "Transaction"), will
occur tomorrow, May 24, 2018, subject
to the continued satisfaction of all closing conditions at the time
of closing. If the closing occurs, the Trust anticipates that
the Units will cease trading on the Toronto Stock Exchange (the
"TSX") at the close of trading tomorrow.
Unitholders who have questions or require assistance with
submitting their Units in connection with the Transaction may
direct their questions to Computershare Trust Company of
Canada, which is acting as
depositary in connection with the Transaction, by telephone at 1
(800) 564-6253 (toll free in North
America) or (514) 982-7555 (outside North America), by facsimile at (905) 771-4082
or by email at corporateactions@computershare.com.
For more information on the Transaction, please see the news
releases issued by the Trust on January 9,
2018, February 28, 2018,
March 12, 2018, March 23, 2018, March 29,
2018 and April 12, 2018 along
with the Trust's management information circular dated February 15, 2018 prepared in connection with the
Transaction, all of which are available under the Trust's profile
at www.sedar.com and on the Trust's website at www.piret.ca.
ABOUT THE TRUST
The Trust is an unincorporated,
open-ended investment trust that owns and operates a diversified
portfolio of income-producing industrial properties in leading
markets across Canada and key
distribution and logistics markets in the
United States. The Trust is an internally managed REIT and
is one of the largest publicly-traded REITs in Canada that offers investors exposure to
industrial real estate assets in Canada and the
United States.
Additional information about the Trust is available at
www.piret.ca or www.sedar.com.
ABOUT BLACKSTONE
Blackstone is a global leader in real
estate investing. Blackstone's real estate business was founded in
1991 and has approximately US$115
billion of assets under management. Blackstone's real estate
portfolio includes hotel, office, retail, industrial and
residential properties in the US, Europe, Asia,
Australia and Latin America. Major holdings include Hilton
Worldwide, Invitation Homes (single family homes), Logicor
(pan-European logistics) and prime office buildings in the world's
major cities.
FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may
constitute forward-looking information within the meaning of
applicable Canadian securities laws. Forward-looking information is
often, but not always, identified by the use of words such as
"anticipate", "plan", "expect", "may", "will", "intend", "should",
and similar expressions. This information involves known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking information. Forward looking
information in this news release includes, but is not limited to,
the following: statements with respect to the anticipated closing
of the Transaction and the delisting of the Units from the
TSX.
The forward-looking information contained in this news
release is based on certain expectations and assumptions made by
the Trust. Although the Trust believes that the expectations and
assumptions on which the forward-looking information contained in
this news release is based are reasonable, undue reliance should
not be placed on the forward-looking information because the Trust
can give no assurance that it will prove to be correct. Since
forward-looking information addresses future events and conditions,
by its very nature it involves inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks.
The forward-looking information contained in this news
release represents Trust's expectations as of the date hereof, and
is subject to change after such date. The Trust disclaims any
intention or obligation to update or revise any forward-looking
information whether as a result of new information, future events
or otherwise, except as required under applicable securities
regulations.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS
RELEASE.
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SOURCE Pure Industrial Real Estate Trust (PIRET)