AIP Realty Trust Announces Completion of Plano, Texas Property by Development Partner AllTrades, The Canadian Business Journal

VANCOUVER, British Columbia, November 18, 2022 (GLOBE NEWSWIRE) — AIP Realty Trust (“trust” Also “AIP) (TSXV: AIP.U) today announced that Dallas-based AllTrades Industrial Properties, Inc. (“all trade), a new facility located in the East Central area of ​​Dallas-Fort Worth, Texas, has completed construction and is ready for tenant occupancy (“Plano Properties”). All dollar figures are in US dollars.

The Plano property is a light industrial flex facility consisting of approximately 82,280 square feet of rentable property across 30 WorkSpace Shops™ and 51 WorkSpace Secured Parking™ spaces. As a result of AllTrades’ pre-leasing during construction, the facility will be 100% leased upon completion of construction, resulting in an average blended NNN rental of $15.20 per square foot.

A recently completed AllTrades property in Plano, Texas.

“AllTrades continues its development program with the opening of another quality facility in Dallas-Fort Worth,” said Executive Chairman Les Wulf. “As with previously completed properties, Plano Properties is experiencing strong demand from tenants as evidenced by high initial occupancy rates. increase.”

Plano Property is the second property to be completed in a group of five properties the trust agreed to acquire earlier this year. As announced on May 24, 2022, AIP entered into a Membership Purchase Agreement (“Agreement”) All Trades Five Properties, LLC (“AT5P”) Offers the Trust an exclusive option to acquire up to five properties in the final stages of a Dallas-Fort Worth development (“DFWMore”) area of ​​Texas that includes Plano properties. As announced on August 9, 2022, Mesquite’s property was the first completed property in this group and is now 100% leased, with NNN’s average rent per square foot. $15.04 each. His three remaining properties in that group are expected to be completed by the end of the first quarter of 2023.

On September 26, 2022, the Trust announced a similar forward purchase agreement to acquire up to seven additional AllTrades branded properties in the DFW area. To date, AIP has a total of 12 light industrial flex properties representing a total of 841,109 square feet of leasable space comprising 191 WorkSpace Shops™, 136 WorkSpace Studios™ and 339 WorkSpace Secured Parking™ spaces. entered into a forward purchase agreement to acquire The total expected purchase price, assuming all properties are acquired by AIP, would be $205.5 million.

AllTrades facilities target the trade and services sector and small businesses that are underserved and often relegated to older buildings with outdated equipment. The facility offers modern, attractive spaces that are readily available and easily adaptable for multiple uses. The facility addresses the underserved need for a new generation of high quality light industrial flex space by America’s large, diverse and growing trade, service and small businesses seeking a location close to their customer base. is intended to deal with Increasing trend of last mile service.

The Trust’s Governance Committee will initiate the process of evaluating whether to exercise the option based on a review of the audited financial statements and an evaluation of the Plano Assets. The Trust will only proceed with the acquisition of the Plano Properties if the Trust’s governance committee and independent trustees make favorable recommendations and the Trust secures the necessary funds to do so.

About AIP Realty Trust

AIP Realty Trust is a real estate investment trust with a growing portfolio of light industrial flex facilities focused on US small businesses and the trade and services sector. These properties are used by contractors, skilled traders, suppliers, repair services, last mile providers, small businesses, assembly and distribution companies. These typically offer attractive fundamentals such as low tenant turnover, stable cash flow, low capital expenditures and significant growth opportunities. Initially focused on the Dallas-Fort Worth market, AIP plans to roll out this innovative real estate offering nationwide. AIP has the exclusive right to finance and purchase the development of all completed and leased properties constructed throughout North America by its development and property management partner, AllTrades Industrial Properties, Inc. . For more information, please visit www.aiprealtytrust.com.

For more information about the Trust, please contact:
Leslie Wolf
representative
(214) 679-5263
[email protected]

or

Greg Forwaller
Chief executive officer
(778) 918-8262
[email protected]

Notes forward-looking statements

This press release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws. It includes statements regarding AIP Realty Trust’s plans, intentions, beliefs and current expectations regarding future business activities and performance. Forward-looking information is often expressed in terms of “could,” “could,” “could,” “should,” “will,” “intend,” “plan “will”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions, including the anticipated timing and completion of the LLC’s acquisition, the impact of the LLC’s acquisition on AIP’s financial performance; Includes information regarding our ability to secure the funds necessary to complete the acquisition of an LLC. , the ability to obtain requisite regulatory approvals, AIP’s ability to execute its business and growth strategies, future acquisitions by the trust, the ability to acquire regulatory and unitholders, and other conditions antecedent to the closing of the LLC’s acquisition. Sufficient Approval and Other Factors. “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “estimate”, “anticipate”, “believe”, “estimate”, “anticipate”, “target”, “plan”, “forecast”, ” The words “may”, “will” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed financing activities, proposed acquisitions, regulatory or governmental requirements or approvals, reliance on third-party information and other factors or information. I have. Such statements represent the Trust’s current views with respect to future events and are deemed by the Trust to be reasonable but materially material business, economic, competitive, political and social risks. , contingencies, and uncertainties. Many known and unknown factors could cause our results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. there is. Such factors include, but are not limited to: (i) AIP will receive financing on favorable terms; (ii) AIP’s future debt levels and future growth potential remain consistent with AIP’s current expectations; (iii) no change in tax law that will adversely affect AIP’s ability to raise funds or operations; (iv) the impact of current economic conditions and current global financial conditions on AIP’s business, including its ability to raise capital and asset values, will remain consistent with AIP’s current expectations; (v) The performance of AIP’s investments in Texas will proceed on a basis consistent with AIP’s current expectations. (vi) capital markets provide AIP with easy access to equity and/or debt; The Trust does not update these forward-looking statements or information to reflect changes in assumptions, changes in circumstances, or otherwise affect such statements and information, except as may be required by applicable laws, rules and regulations. It is not intended and assumes no obligation to reflect any other event given. Rules.

Any forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All forward-looking statements contained in this press release are made as of the date of this press release. AIP does not undertake to update such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

This news release is not an offering of securities in the United States. Securities may not be offered or sold in the United States without registration or exemption from registration under the United States Securities Act of 1933 (the “US Securities Act”). The Trust has not registered and does not intend to register any securities under the United States Securities Laws. The Trust does not intend to engage in any public offering of securities in the United States.

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/28a0277a-cf63-44c8-98e3-158833162134

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