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B.C. real estate investment trust makes Canadian property acquisitions |
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Friday, 05 February 2010 |
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Vancouver's Pure Industrial Real Estate Trust (TSX-V:AAR.UN) plans to acquire three income-producing properties for $42.1 million. The portfolio includes a property in B.C., another in Alberta and one in New Brunswick. The deal increases the fund's industrial property portfolio by 223,410 square feet on a total of 27.6 acres. Approximately $21.6 million of the deal will be funded through a bought deal private placement of 7.2 million trust units priced at $3 per unit with a syndicate of underwriters led by Canaccord Adams and includes Dundee Securities Corp. Pure Industrial Real Estate Trust's unit price during the past week: between $3.15 and $3.30; 52-week high:$3.50; 52-week low:$1.55.
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