Pure Industrial Real Estate Trust Receives Conditional Approval For TSX Listing

VANCOUVER, July 24, 2012 /CNW/ - Pure Industrial Real Estate Trust ("PIRET" or the "REIT") (TSXV: AAR.UN) announced today that the Toronto Stock Exchange (the "TSX") has conditionally approved the listing of PIRET's Class A trust units (the "Units").

Listing of the Units is subject to compliance with all of the requirements of the TSX, including receipt of all required documentation by the TSX on or before October 16, 2012. PIRET anticipates filing final listing materials with the TSX by the end of July 2012 and will issue a further news release as soon as the date for trading on the TSX has been confirmed. Once listed on the TSX, the Units will be delisted from the TSX Venture Exchange.

The Units will continue to trade under the stock symbol "AAR.UN" upon listing on the TSX.

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 REIT 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.

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by PIRET, including: PIRET anticipates filing final listing materials with the TSX by the end of July 2012 and will issue a further news release as soon as the date for trading on the TSX has been confirmed.

Although PIRET believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PIRET can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to satisfy the conditions to complete the acquisition, the inability to obtain mortgage financing on expected terms, competitive factors in the industries in which PIRET operates, prevailing economic conditions, and other factors, many of which are beyond the control of PIRET.

The forward-looking statements contained in this news release represent PIRET's expectations as of the date hereof, and are subject to change after such date. PIRET disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the policies of the TSX Venture Exchange) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

SOURCE: Pure Industrial Real Estate Trust (PIRET)

Andrew Greig,
Director of Investor Relations

Pure Industrial Real Estate Trust (PIRET)
Suite 910, 925 West Georgia Street
Vancouver, BC  V6C 3L2
Phone: [phone] or [phone]
E-mail: [email protected]
www.piret.ca

TSX Venture Exchange - AAR.UN