In its second financing in recent months, Vancouver-based Pure Industrial Real Estate Trust (TSX-V:AAR.UN) has raised $20.3 million in a public offering of units.
The company said the net proceeds of the latest offering will be used to fund property acquisitions and for general working capital purposes.The fund has been on a rapid acquisition spree in recent months. In March, it closed the purchase of three industrial properties in B.C., Alberta and New Brunswick worth $42.1 million. In late April it acquired three more properties in Regina in a $12.3 million sale-leaseback transaction with Advance Engineered Products Ltd., and on April 29, it announced the acquisition of six more properties worth $41.6 million.