Pure Industrial REIT closes a $59.9 M Bought Deal

Pure Industrial Real Estate Trust announced the closing of its previously announced public offering of 14,605,000 trust units (inclusive of 1,905,000 Units issued pursuant to the exercise in full of the over-allotment option), on a bought deal basis, at a price of $4.10 per Unit for total gross proceeds of $59,880,500. The Offering was conducted through a syndicate of underwriters led by Canaccord Genuity Corp. and Dundee Securities Corporation, as co-lead underwriters, and including RBC Dominion Securities Inc., National Bank Financial Inc., CIBC World Markets Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., GMP Securities L.P. and Macquarie Capital Markets Canada Ltd. .

PIRET intends to use the net proceeds from the Offering and the over-allotment option to fund acquisitions and repay debt and for general working capital purposes.

on May 20, 2011