- What Proreit completed the sale of three properties
- Why It’s looking to sell off noncore assets
- What next The firm aims to acquire industrial properties
Pro Real Estate Investment Trust has sold three properties for a combined $13.5m as it moves to pursue industrial acquisitions.
The company closed the sale of two retail properties, one in Regina, Sask., for $4.8m, and one in Pincher Creek, Alta., for $2.2m. It also sold a 38,000 sq ft flex industrial property in Winnipeg for $6.5m to a major tenant.
Proreit also has completed a $9.8m refinancing of two industrial properties in Edmonton.
“With $39.6 million of dispositions year to date, we have the financial flexibility to opportunistically pursue potential acquisitions in our core industrial sector, complementing our capacity to generate organic cash flow growth,” CEO Gordon Lawlor said.