What is the business of Pure Industrial Real Estate Trust (PIRET)?

PIRET was established for the purposes of acquiring, owning and operating a diversified portfolio of income producing industrial properties across Canada.  It is Canada's only pure-play industrial REIT.

What is PIRET's business strategy?

PIRET's strategy is based on targeting accretive acquisitions in primary and secondary markets in Canada 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.

Why is PIRET focused on industrial real estate?

In years years, the Canadian 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.

What does PIRET look for when acquiring properties?

PIRET acquires properties in clusters and asset sizes that will ensure regional economies of scale and geographic diversification in its portfolio. Acquisitions are primarily in the $3 to $20 million range per property. PIRET focuses on acquiring industrial assets with strong tenant bases, low vacancy rates and existing long-term leases. In addition to providing cash flow stability, these higher quality tenants typically require fewer resources to manage individual properties. PIRET acquires properties that are in good to superior physical condition with little to no deferred maintenance.

How does PIRET source new properties to acquire?

PIRET's management team, Sunstone Industrial Advisors Inc., is an affiliate of Sunstone Realy Advisors, a successful Vancouver based sponsor and general partner of a number of direct real estate investing opportunity funds. Sunstone provides PIRET with national access to industrial properties through its existing extensive brokerage network.

Where do PIRET's units trade?

Fund units trade on the Toronto Stock Exchange (Venture) under the ticker symbol AAR.UN. You can obtain more information on the Toronto Stock Exchange website www.tsx.com.

How many units are outstanding?

PIRET has 7,526,263 units outstanding.

What is PIRET's distribution policy?

PIRET currently intends to make an annual cash distribution to unitholders of $0.30 per unit. Monthly distributions are to be paid on the 15th day following the end of each month.

What is PIRET's fiscal year-end?

December 31.

When does PIRET release its quarterly financial results?

Financial results are expected to be released in May (first quarter), August (second quarter), November (third quarter) and February (fourth quarter and year end).

Does PIRET offer a Dividend Reinvestment Program (DRP)?

No, there is currently no DRP in place.

Who are the auditors of PIRET?

The auditors of PIRET are KPMG LLP.