PIRET Closes Bought Deal

Pure Industrial Real Estate Trust (PIRET) closed a bought deal public offering of 36,455,000 subscription receipts – inclusive of 4,755,000 subscription receipts issued pursuant to the exercise in full of an over-allotment option – for gross proceeds of $184,097,750.

Proceeds from the offering were used to finance a portion of the purchase price in respect of PIRET's acquisition of a portfolio of Ontario industrial properties from Slate Acquisitions Inc. for $358.5 million.

The offering was completed through a syndicate of underwriters co-led by Canaccord Genuity Corp., RBC Capital Markets and BMO Nesbitt Burns Inc., and included CIBC World Markets Inc., Scotia Capital Inc., Dundee Securities Ltd., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., GMP Securities L.P. and HSBC Securities (Canada) Inc.

PIRET was represented by Clark Wilson LLP with a team of James Speakman (commercial real estate and securities) and Vikram Dhir (corporate finance and securities).

The underwriters were represented by Bennett Jones LLP with a team that included Georges Dubé, Aaron Sonshine and Christopher Doucet (corporate and securities); Bernard Morris and Neil Gurmukh (tax) and Jane Helmstadter and Aleksandra Finelli (commercial real estate).

Lawyer(s)

Aaron E. Sonshine Georges Dubé Bernard Morris James A. Speakman Jane C. Helmstadter Vikram Dhir Neil Gurmukh Aleksandra B. Finelli

Firm(s)

Bennett Jones LLP Clark Wilson LLP