VANCOUVER, Aug. 16, 2012 /PRNewswire/ - Pure Industrial Real
Estate Trust ("PIRET" or the "REIT") (TSXV: AAR.UN) today announced
that the REIT has successfully secured additional mortgage
financing for $12,300,000.
PIRET obtained first mortgage financings of
$10,620,000 and $1,680,000 on the properties at 12155 -
154th Street, Edmonton,
Alberta and 515 Welham Road, Barrie, Ontario, respectively. The
mortgages bear interest at 4.70% per annum over a term of 20
years. Including the new mortgages, PIRET's weighted average
debt-to-maturity has been extended from 4.9 to 5.6 years.
Darren Latoski,
Co-CEO of PIRET said, "This new 20 year mortgage financing further
illustrates our goal of predictability of cash flow through long
term debt maturities. We will continue to actively manage our
cash requirements to achieve the Trust's short- and long-term
objectives."
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 largest 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)