An anonymous trustee reports

PURE INDUSTRIAL REAL ESTATE TRUST ANNOUNCES CLOSING OF A FULLY LEASED INDUSTRIAL PROPERTY FOR $9.8-MILLION

Pure Industrial Real Estate Trust has closed a single-tenant, fully leased industrial property located in Halton Hills, Ont., for a total purchase price of $9.8-million.

The property is located at 11000 Steeles Ave., Halton Hills, Ont., has a gross leasable area of 123,750 square feet situated on 13.8 acres of land and is leased to a strong national tenant on a fully net basis. Pure Industrial acquired the property at a going-in capitalization rate of 6.63 per cent and financed the acquisition with equity from the bought-deal financing that closed on Feb. 12, 2013.

Pure Industrial's year-to-date 2013 acquisitions are summarized in the attached table.

                        YEAR-TO-DATE 2013 ACQUISITIONS                        
                                                                               
Property/portfolio                Municipality and province  Number of properties        GLA

13055 80th Ave.                                 Surrey, B.C.                    1     38,232
18111 Blundell Rd.                            Richmond, B.C.                    1    412,375
Edmonton portfolio                           Edmonton, Alta.                    3    264,941
16111 Blundell Rd.                            Richmond, B.C.                    1    279,742
East-West portfolio                                 Various                     4    263,896
261106 Wagon Wheel Cres.                       Balzac, Alta.                    1     58,772
GTA/Ontario portfolio                          Various, Ont.                   59  3,663,221
11000 Steeles Ave.                        Halton Hills, Ont.                    1    123,750
   
Property/portfolio               Price ($ million)  Going-in cap rate    Occupancy

13055 80th Ave.                              $4.6                5.97%         100%
18111 Blundell Rd.                           44.1                6.21%         100%
Edmonton portfolio                           21.8                6.74%         100%
16111 Blundell Rd.                           32.3                6.04%         100%
East-West portfolio                          25.3                8.13%         100%
261106 Wagon Wheel Cres.                      8.9                7.07%         100%
GTA/Ontario portfolio                       358.5                6.33%*       93.9%*
11000 Steeles Ave.                            9.8                6.63%         100%

* Stated occupancy and going-in cap rate do not include premises leased
under a head lease with the vendor. Including the vendor head lease
will result in an effective occupancy rate of 98.3 per cent.

After completing the acquisition, Pure Industrial's portfolio will be composed of 157 properties representing approximately 12.0 million square feet of gross leasable area.