VANCOUVER, Aug. 9, 2012 /PRNewswire/ - Pure Industrial Real
Estate Trust ("PIRET" or the "REIT") (TSXV: AAR.UN) today announced
the successful closing of a fully leased multi-tenant, income
producing industrial property for a total purchase price of
$4,250,000.
The property is located at 15 Turbo Drive,
Edmonton, Alberta, has a total
gross leasable area ("GLA") of 27,071 square feet on a 2.01 acre
site, and is 100% leased to two strong regional tenants on a fully
net basis.
PIRET acquired the property on an all cash basis
and funded the acquisition with equity from the bought deal
financing that closed on March 1,
2012. The asset was acquired at a going-in capitalization
rate of 7.96%.
After completing this transaction, PIRET's
portfolio will total 72 properties with GLA of approximately 5.2
million square feet. The REIT's year-to-date acquisitions are
summarized below:
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| Address |
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Municipality |
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GLA (sf) |
|
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Price
($million) |
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|
|
Cap
Rate |
|
|
Occupancy |
| 7830 Vantage Way |
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Delta, BC |
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46,300 |
|
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$ 4.45 |
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|
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6.50% |
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100% |
| 925 - 931 Brock Road |
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Pickering, ON |
|
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325,680 |
|
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22.13 |
|
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8.00% |
|
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93% |
| 1345 Redwood Avenue |
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Winnipeg, MB |
|
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112,300 |
|
|
9.70 |
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7.76% |
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100% |
| 2440 Winston Park Drive |
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Oakville, ON |
|
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94,988 |
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10.56 |
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6.75% |
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100% |
| 230 Barmac Drive |
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North York, ON |
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118,225 |
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7.27 |
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6.50% |
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100% |
| 2030 Notre Dame Avenue |
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Winnipeg, MB |
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108,238 |
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8.10 |
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7.68% |
|
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100% |
| 515 Welham Road |
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Barrie, ON |
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45,170 |
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2.70 |
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8.00% |
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100% |
| 12155 - 154th Street |
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Edmonton, AB |
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142,583 |
|
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16.80 |
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8.00% |
|
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100% |
| 6800 Rexwood Road |
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|
Mississauga, ON |
|
|
101,039 |
|
|
8.25 |
|
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6.74% |
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100% |
| 15 Turbo Drive |
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|
Edmonton, AB |
|
|
27,071 |
|
|
4.25 |
|
|
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7.96% |
|
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100% |
| |
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1,121,634 |
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$ 94.21 |
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7.51% |
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98% |
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 REIT 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.
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)