Pure Industrial Real Estate Trust Announces Closing of $74.8 Million Bought Deal and Property Disposition

CNW Newswire
January 28, 2014

Pure Industrial Real Estate Trust ("PIRET") (TSX: AAR.UN) today announced the closing of its previously announced public offering (the "Offering") of 16,445,000 trust units ("Units"), inclusive of 2,145,000 Units issued pursuant to the exercise in full of the over-allotment option, on a bought deal basis, at a price of $4.55 per Unit for total gross proceeds of $74,824,750.  The Offering was conducted through a syndicate of underwriters co-led by Canaccord Genuity Corp., RBC Capital Markets and BMO Nesbitt Burns Inc., on their own behalf and on behalf of CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., Dundee Securities Ltd., Raymond James Ltd. and GMP Securities L.P.

PIRET intends to use the net proceeds from the Offering to fund the acquisition of nine industrial properties located inCalgary, Alberta, and Bolton, Hamilton, Stoney Creek, Burlington, Woodstock, Toronto and London, Ontario, as described in greater detail under the heading "Use of Proceeds" in its short form prospectus dated January 21, 2014, available on SEDAR at www.sedar.com, and for general working capital purposes.

PIRET's Units are listed on the Toronto Stock Exchange under the symbol AAR.UN.  PIRET now has 150,654,856Units issued and outstanding.

Property Disposition
On January 20, 2014, PIRET completed the disposition of the property located at 30 Whitmore Road, Vaughan, Ontario for gross proceeds of $4,425,000. PIRET acquired the property on May 15, 2013 for $3,200,000. The property is a single-tenant industrial property comprising 33,931 square feet of gross leasable area.

About Pure Industrial Real Estate Trust (PIRET)
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 the PIRET is available at www.piret.ca or www.sedar.com.