VANCOUVER, June 15, 2012 /PRNewswire/ - Pure Industrial Real
Estate Trust ("PIRET" or the "REIT") (TSXV: AAR.UN) announced today
it has sold the industrial property located at 4311 -
122nd Avenue SE in Calgary,
Alberta to a private buyer for gross proceeds of
$6,094,471.
PIRET acquired this property as part of a
$70,145,000 portfolio on June 8, 2011. This single tenant industrial
facility has a gross leasable area of 29,943 square feet.
"The purchase price is significantly above our
acquisition cost and we believe this transaction demonstrates
PIRET's ability to acquire quality assets at attractive pricing.
This property disposition also illustrates management's ability to
actively manage our portfolio to maximize returns to our investors
over and above our accretive acquisition program." said
Darren Latoski, Co-CEO of the
REIT.
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 vehicle 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.
TSX Venture Exchange - AAR.UN
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)