The auditors of PIRET are KPMG LLP.
No, there is currently no DRIP in place.
Financial results are expected to be released in May (first quarter), August (second quarter), November (third quarter) and March (fourth quarter and year end).
PIRET currently intends to make an annual cash distribution to unitholders of $0.312 per unit. Monthly distributions are to be paid on or around the 15th day following the end of each month.
As at February 16, 2016, PIRET has 245,680,968 units outstanding.
Fund units trade on the Toronto Stock Exchange under the ticker symbol AAR.UN (A PIRET says AAR!). You can obtain more information on the Toronto Stock Exchange website www.tsx.com.
PIRET's extensive brokerage network and relationships with key private and institutional industrial property owners provides unparalleled access to acquisition opportunities across Canada.
PIRET targets properties providing stable income and having desirable physical characteristics and location in growth markets, particularly Toronto, Edmonton, Calgary and Vancouver and select markets of the United States. Functionality is a key consideration, including clear height, number of doors, site access and storage capacity, and proximity to major transportation infrastructure. To provide critical mass and economies of scale in our target markets, attention will be focused on assets or portfolios with a value exceeding $20 million.
In recent years, the industrial real estate market has been characterized by strong demand, tight supply, decreasing vacancy rates, increasing rents and decreasing capitalization rates
Industrial real estate has provided strong investor returns over the last 10 years. Industrial returns have demonstrated the least amount of volatility within the real estate sector due to several factors: build-to-suit construction limiting speculative new supply, a broad range of tenants, lower operating costs, lower capital expenditure requirements, lower tenant inducement costs, properties typically operating at close to 100% occupancy and long lease terms for build-to-suit properties.
PIRET's strategy is based on targeting accretive acquisitions in primary markets in Canada and the U.S.A and maintaining a conservative leverage profile while emphasizing a disciplined approach to managing each of its properties in order to capture their full upside potential. Up to 20% of PIRET's portfolio will represent properties located in the U.S.A.
PIRET is an unincorporated, open-ended investment trust that owns and operates a diversified portfolio of income-producing industrial properties in leading markets. PIRET is an internally managed REIT that focuses exclusively on investing in industrial properties.