Business
PROREIT Announces Agreement to Acquire Six Industrial Properties in Winnipeg for an Aggregate Purchase Price of $96.5 Million
PROREIT Announces Agreement to Acquire Six Industrial Properties in Winnipeg for an Aggregate Pur...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"\n\n\n\n PROREIT Announces Agreement to Acquire Six Industrial Properties in Winnipeg for an Aggregate Purchase Price of $96.5 Million\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: LEFT; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; TEXT-ALIGN: CENTER; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Acquisition of a portfolio of six institutional quality industrial properties totaling 678,177 square feet of gross leasable area (\"GLA\")\n \n\n Increases PROREIT's industrial exposure to approximately 88% of GLA and 83% of base rent\n \n\n Expands PROREIT's\n \n Winnipeg\n \n small- and mid-bay portfolio to 22 properties (including one parcel of development land) and approximately 1.3 million square feet of GLA\n \n\n Transaction accretive to adjusted funds from operations (AFFO) per unit\n \n\n Establishes a strategic relationship with Parkit for future growth opportunities\n \n\n\n\n MONTRÉAL\n \n ,\n \n\n May 13, 2025\n \n\n /CNW/ - PRO Real Estate Investment Trust (TSX: PRV.UN) (\"PROREIT\" or the \"REIT\") today announced that it has entered into an agreement to acquire a 100% interest in a portfolio of six high-quality industrial properties located in Winnipeg, Manitoba totaling 678,177 square feet of GLA (the \"Portfolio\") for an aggregate purchase price of $96.5 million (excluding closing costs) from Parkit Enterprise Inc. (TSX.V: PKT) (\"Parkit\") representing approximately $142 per square foot and a mid-six percent capitalization rate, and in addition, realizing management platform synergies (the \"Transacti...