April 26, 2017 - CHP.UN
New! Choice Properties REIT -Q1-2017 Results, Price Target Update .....
April 25, 2017 - SPB
New! Superior Plus Corp. Price Target Update .....
April 23, 2017 - H
Hydro One Limited - Price Target Update .....
April 21, 2017 - FTS
Fortis Inc. Price Target Update .....
April 20, 2017 - PKI
Parkland Fuel Corp. - CST & Chevron Acquisition .....
April 20, 2017 - AAR.UN
Pure Industrial REIT - Price Target Update .....
April 19, 2017 - RUF.UN
Pure Multi Family REIT - Price Target Update .....
April 16, 2017 - KBL
K-Bro Linen Inc. Earnings & Price Target Update .....
Recommendation Changes
H, GEI, DIR.UN, CSH.UN, DR, more...

Pure Industrial REIT - Price Target Update

This is only a sample of the article, please login to view the entire article

Pure Industrial REIT property portfolio consists of 162 income producing industrial properties representing gross leasable area of 19.6M sq. ft., a decrease from 169 properties as at Dec-31-2015. In addition, 26.4 acres of land are held for future development and one property under development, which will add 330,000 sq. ft. to the portfolio, upon completion. A total of 16 properties (950,00 sq. ft.) with a book value of $110.8M and associated mortgages of $21.7M are classified for sale.

PIRET's geographic areas of focus is Ontario at 35% of net operating income and Alberta at 23%, the US at 20%, followed by BC at 15% and other at 7%. In the US, properties are located Texas, Florida and the Carolinas. The REIT was formed in Aug-07 with an initial property portfolio worth $40.5M. The fair value of investment properties at Dec-31-2016 is $2.3B, a $255M increase from Dec-31-2015. The increase is due primarily to the acquisition of 16 income producing properties, development and expansion projects, and a total fair value increase of $51M booked in Q4-2016 and $71.6M for the year, partially offset by the disposition of 8 income producing assets and the impact of a lower U.S. exchange rate at year end compared to Dec-31-2015 on the U.S. assets.

Developments in Vaughan, Ontario and expansion in Barrington, New Jersey were completed in Q2-2016 and rent for both properties commenced on April 15.

You must be a member to view the entire article, please subscribe or login

New Issues & Acquisition
April 26, 2017
New! Element Fleet Management Corp - New Issue - Minimum Guarantee Rate Reset Preferred Share New Issue
April 26, 2017
New! New Issue-Brookfield Office Properties Inc. 4.85% Minimum Rate Guarantee Preferred Shares
April 14, 2017
Weekly Price Changes Apr 7-13,2017
April 10, 2017
Chemtrade Logistics Income Fund - New Convertible Debenture
April 7, 2017
Weekly Price CHanges Mar 31-Apr 7, 2017
April 5, 2017
Ag Growth International Inc. - New Convertible Debenture
March 31, 2017
Weekly Price Changes Mar-23-30, 2017
March 24, 2017
Weekly Price Changes Mar 17-24, 2017