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6 months ago
BRIEF-Pure Industrial Real Estate Trust announces core Houston acquisition and a $150 million unsecured credit facility
February 22, 2017 / 10:55 PM / 6 months ago

BRIEF-Pure Industrial Real Estate Trust announces core Houston acquisition and a $150 million unsecured credit facility

Feb 22 (Reuters) - Pure Industrial Real Estate Trust

* Pure Industrial Real Estate Trust announces core Houston acquisition and a $150 million unsecured credit facility

* Pure Industrial Real Estate Trust - deal for $83.2 million

* Pure Industrial Real Estate Trust - assets are expected to be financed with a new mortgage following closing for approximately 50% of purchase price

* Pure Industrial Real Estate Trust - trust will acquire Houston acquisition using cash on hand and its existing operating line

* Pure Industrial Real Estate Trust - deal immediately accretive to adjusted funds from operations

* Pure Industrial Real Estate Trust - new $150 million facility will replace trust's current $110 million secured credit facility and have a three-year term

* Pure Industrial Real Estate Trust - will have option to increase new facility up to an additional $100 million for a total facility limit of $250 million Source text for Eikon: Further company coverage:

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