12:49:15 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Pure Industrial Real Estate Trust
Symbol AAR
Shares Issued 216,261,159
Close 2016-07-28 C$ 5.35
Market Cap C$ 1,156,997,201
Recent Sedar Documents

Pure Industrial closes $110-million mortgage financing

2016-07-28 20:11 ET - News Release

Mr. Andrew Greig reports

PURE INDUSTRIAL REAL ESTATE TRUST SECURES MORTGAGE FINANCING OF $110 MILLION

Pure Industrial Real Estate Trust has successfully closed on a $110-million mortgage financing.

The trust obtained a first mortgage financing of $110-million on the recently constructed, state-of-the-art, 422,433-square-foot, logistics and distribution facility in Vaughan, Ont. The mortgage bears interest at a fixed rate of 3.4 per cent per annum over a term of 10 years. Including the new mortgage, PIRET's weighted average debt to maturity has been extended from 4.2 to 4.8 years, and the trust's effective weighted average interest rate on its term debt has been reduced to 4.05 per cent.

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