VANCOUVER, April 12, 2012 /PRNewswire/ - Pure Industrial
Real Estate Trust ("PIRET" or the "REIT") (TSXV: AAR.UN) today
announced the successful closing of a fully leased single tenant,
income producing industrial property for a total purchase price of
$10,555,333.
The property is located at 2440 Winston Park
Drive, in Oakville, Ontario, has a
total rentable area of 94,988 square feet is situated on 5.074
acres and is LEED Silver certified. The property is 100% leased to
a private pharmaceutical technology firm until February 2018.
PIRET acquired the property on an all cash basis
and funded the acquisitions with equity from the bought deal
financing announced January 25,
2012. The asset was acquired at an attractive
capitalization rate of 6.75%.
After completing this transaction, PIRET's portfolio will total
approximately 4.7 million square feet, with 36% of the properties
located in the Greater Toronto
Area.
PIRET's units are listed on the TSX Venture
Exchange under the symbol AAR.UN. For more information on PIRET,
visit our website at www.piret.ca.
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
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (as that term is defined in the
policies of the TSX Venture Exchange) HAS REVIEWED OR ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS
RELEASE.
SOURCE Pure Industrial Real Estate Trust (PIRET)