/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, May 21, 2013 /CNW/ -Pure Industrial Real Estate Trust ("PIRET") (TSX: AAR.UN) today
announced the successful closing of a single tenant, fully leased
industrial property located in Halton Hills, Ontario for a total
purchase price of $9.8 million.
The property is located at 11000 Steeles Avenue, Halton Hills, Ontario,
has a gross leasable area ("GLA") of 123,750 square feet situated on
13.8 acres of land and is leased to a strong national tenant on a fully
net basis. PIRET acquired the property at a going-in capitalization
rate of 6.63% and funded the acquisition with equity from the bought
deal financing that closed on February 12, 2013.
PIRET's 2013 year-to-date acquisitions are summarized below:
|
|
|
|
|
|
|
|
|
|
| Property/Portfolio | Municipality
and Province | # of
Properties | GLA |
|
| Price
($million) | Going In
Cap Rate | Occupancy |
|
13055 80th Avenue
|
Surrey, BC
|
1
|
38,232
|
|
$
|
4.6
|
5.97%
|
100%
|
|
18111 Blundell Road
| Richmond, BC
|
1
|
412,375
|
|
|
44.1
|
6.21%
|
100%
|
| Edmonton Portfolio
| Edmonton, AB
|
3
|
264,941
|
|
|
21.8
|
6.74%
|
100%
|
|
16111 Blundell Road
| Richmond, BC
|
1
|
279,742
|
|
|
32.3
|
6.04%
|
100%
|
|
East-West Portfolio
|
Various
|
4
|
263,896
|
|
|
25.3
|
8.13%
|
100%
|
261106 Wagon Wheel
Crescent
|
Balzac, AB
|
1
|
58,772
|
|
|
8.9
|
7.07%
|
100%
|
|
GTA/ON Portfolio
|
Various, ON
|
59
|
3,663,221
|
|
|
358.5
|
6.33%*
|
93.9%*
|
|
11000 Steeles Ave
|
Halton Hills, ON
|
1
|
123,750
|
|
|
9.8
|
6.63%
|
100%
|
|
|
| 71 | 5,104,929 |
| $ | 505.3 | 6.42% | 95.6% |
* 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%.
After completing the acquisition, PIRET's portfolio will be comprised of
157 properties representing approximately 12.0 million square feet of
GLA.
About Pure Industrial Real Estate Trust
PIRET is an unincorporated, open-ended investment trust that acquires,
owns and operates 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
internally managed 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.
The Toronto Stock Exchange has not reviewed nor approved the contents of
this press release and does not accept responsibility for the adequacy
or accuracy of this press release.
SOURCE: Pure Industrial Real Estate Trust (PIRET)
<p> Andrew Greig,<br/> Director of Investor Relations<br/> Suite 910, 925 West Georgia Street<br/> Vancouver, BC V6C 3L2<br/> Phone: (604) 398-2836 or (888) 681-5959<br/> E-mail: <a href="mailto:agreig@piret.ca">agreig@piret.ca</a> </p> <p> TSX - AAR.UN </p>