Pure Industrial Real Estate Trust Announces Disposition of Industrial Property For $6.1 Million

Pure Industrial Real Estate Trust  announced 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.

on June 18, 2012