Jun. 15, 2011 (Canada NewsWire Group) --
VANCOUVER, June 15, 2011 /CNW/ - Pure Industrial Real Estate Trust ("PIRET" or the "REIT") (TSXV: AAR.UN) is pleased to announce the release of its financial results for the period ending March 31, 2011.
Q1 2011 Financial Results
The Q1 2011 financial results consist of PIRET's unaudited interim condensed financial statements for the three months ended March 31, 2011. The results, consisting of PIRET's unaudited interim condensed financial statements for the three months ended March 31, 2011, and Management's Discussion and Analysis ("MD&A") dated June 15, 2011, are available on SEDAR (www.sedar.com).
Financial highlights for the three months ended March 31, 2011:
- Our revenues and results from operations grew 197% compared to Q1 in 2010.
- The Trust FFO increased to $2.57 million compared to last year's Q1 of $831,781.
- PIRET's Loan to Gross Book Value as at March 31, 2011 was reduced to 54%, from 58% at the same period in 2010 and also from 55% at December 31, 2010.
Management will host a conference call at 4:30pm (EST), 1:30 pm (PST), on Thursday, June 16th, 2011, to review the financial results and corporate developments for the period ended March 31, 2011.
To participate in this conference call, please dial one of the following numbers approximately 10 minutes prior to the commencement of the call, and ask to join the PIRET Conference call.
Dial in numbers:
|Toll Free dial in number (from Canada and USA)||1-888-231-8191|
|International or Local Toronto||1-647-427-7450|
Conference Call Replay:
If you cannot participate on June 16th, a replay of the conference call will be available by dialing one of the following replay numbers. You will be able to dial in and listen to the conference 60 minutes after the meeting end time, and the replay will be available until June 23, 2011.
Please enter the Replay ID#75826924, followed by the # key.
|Replay Dial in number (Toll Free from Canada or the USA)||1-800-642-1687|
|Local or International||1-416-849-0833|
PIRET's units are listed on the TSX Venture Exchange under the symbol AAR.UN. For more information on PIRET, visit our website at www.piret.ca.
About Pure Industrial Real Estate Trust (PIRET)
PIRET is an unincorporated, open-ended investment trust established for the purposes of acquiring, owning and operating a diversified portfolio of income-producing industrial properties in primary markets across Canada. PIRET focuses exclusively on investing in industrial properties and is the only publicly traded vehicle in Canada that offers investors exclusive exposure to Canada's industrial asset class.
Additional information about PIRET is available at www.piret.ca or www.sedar.com.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
Director of Investor Relations
Pure Industrial Real Estate Trust (PIRET)
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 681-5959 or (888) 681-5959
TSX Venture Exchange - AAR.UN