The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

Pure Industrial Real Estate Trust Announces Closing of $69.7 Million Bought Deal

Tuesday, February 12, 2013

Pure Industrial Real Estate Trust Announces Closing of $69.7 Million Bought Deal09:45 EST Tuesday, February 12, 2013/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ VANCOUVER, Feb. 12, 2013 /CNW/ - Pure Industrial Real Estate Trust ("PIRET") (TSX: AAR.UN) today announced the closing of its previously announced public offering (the "Offering") of 13,800,000 trust units ("Units"), inclusive of 1,800,000 Units issued pursuant to the exercise in full of the over-allotment option, on a bought deal basis, at a price of $5.05 per Unit for total gross proceeds of $69,690,000.  The Offering was conducted through a syndicate of underwriters led by Canaccord Genuity Corp., and included RBC Dominion Securities Inc., CIBC World Markets Inc., Raymond James Ltd., Scotia Capital Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., BMO Nesbitt Burns Inc., GMP Securities L.P., HSBC Securities (Canada) Inc. and Sora Group Wealth Advisors Inc.PIRET intends to use the net proceeds from the Offering to fund acquisitions and for general working capital purposes.PIRET's Units are listed on the Toronto Stock Exchange under the symbol AAR.UN.  PIRET now has 98,717,888Units issued and outstanding.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 one of the largest publicly traded vehicles in Canada that offers investors exclusive exposure to Canada's industrial asset class.Additional information about PIRET is available at or Stock Exchange - AAR.UNForward-Looking Information:Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements in this news release include that PIRET intends to use the net proceeds from the Offering to fund acquisitions and for general working capital purposes. The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by PIRET, including: expectations and assumptions concerning receipt of required regulatory approvals and the satisfaction of other conditions to the completion of the property acquistions.Although PIRET believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PIRET can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals or satisfy the conditions to closing the property acquisitions, competitive factors in the industries in which PIRET operates, prevailing economic conditions, and other factors, many of which are beyond the control of the PIRET.The forward-looking statements contained in this press release represent PIRET's expectations as of the date hereof, and are subject to change after such date. PIRET disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.SOURCE: Pure Industrial Real Estate Trust (PIRET)For further information: Andrew Greig, Director of Investor RelationsPure Industrial  Real Estate Trust (PIRET) Suite 910, 925 West Georgia Street Vancouver, BC  V6C 3L2 Phone: (604) 681-5959 or (888) 681-5959 E-mail: