Pure Industrial Real Estate Trust announces $4.45 million acquisition
January 28 2012 - 11:59PM
PR Newswire (Canada)
VANCOUVER, Feb. 1, 2012 /CNW/ - Pure Industrial Real Estate Trust
("PIRET" or the "REIT") today announced the successful completion
of the purchase of a single tenant, fully leased income producing
industrial property for a total purchase price of $4,450,000. The
property is located in the Greater Vancouver Area at 7830 Vantage
Way, Delta, British Columbia, has a total rentable area of 46,300
square feet and is situated on 2.12 acres. The property is 100%
leased until September, 2016 to Zodiac Hurricane Technologies Inc.,
an international manufacturer of military and commercial grade
boats. PIRET acquired the property on an all cash basis and funded
the acquisition with equity from the bought deal financing
announced January 11, 2012 and completed on January 26,
2012. The asset was acquired at a capitalization rate of
6.50%. After completing this transaction, PIRET's portfolio will
total approximately 4.2 million square feet, with greater than 16%
of the portfolio's gross leasable area in the Greater Vancouver
Area. PIRET's units are listed on the TSX Venture Exchange under
the symbol AAR.UN. 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 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. TSX Venture Exchange -
AAR.UN THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS
RELEASE. Pure Industrial Real Estate Trust (PIRET) CONTACT:
Andrew Greig,Director of Investor RelationsPure Industrial Real
Estate Trust (PIRET)Suite 910, 925 West Georgia StreetVancouver, BC
V6C 3L2Phone: (604) 681-5959 or (888) 681-5959E-mail:
agreig@piret.cawww.piret.ca
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