WPT Industrial Real Estate Investment Trust Announces Normal Course Issuer Bid

TORONTO, Aug. 12, 2013 /CNW/ - WPT Industrial Real Estate Investment Trust (the "REIT") (TSX:WIR.U) today announced that the Toronto Stock Exchange (the "TSX") has accepted the REIT's notice of intention to make a normal course issuer bid for a portion of its trust units (the "Units").

As of the date hereof, 11,430,000 Units are outstanding. Pursuant to the notice, the REIT may purchase for cancellation up to a maximum of 1,140,000 Units, or approximately 10% of the public float, over the 12-month period commencing August 15, 2013 and ending on August 14, 2014. Any purchases under the normal course issuer bid will be made through the facilities of the TSX and in accordance with applicable regulatory requirements at market prices at the time of acquisition. Subject to certain prescribed exemptions and any block purchase made in accordance with the rules of the TSX, the number of Units that can be purchased pursuant to the bid is subject to a daily maximum of 9,195 Units (which is equal to 25% of the average daily trading volume for the completed calendar months during period from the date the Units were listed on the TSX (April 26, 2013) through July 2013). The actual number of Units which may be purchased (if any), and the timing of any such purchases, will be determined by the REIT. Any Units purchased under the normal course issuer bid will be cancelled following purchase. The REIT intends to fund the purchases of Units under the bid out of its available cash and/or undrawn credit facilities.

The board of trustees of the REIT believes that the purchase by the REIT of a portion of its outstanding Units may from time to time be an appropriate use of available resources and in the best interests of the REIT and its unitholders.

About WPT Industrial Real Estate Investment Trust

WPT Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been formed to own and operate an institutional-quality portfolio of primarily industrial properties located in the United States, with a particular focus on warehouse and distribution industrial real estate. WPT Industrial, LP (the REIT's operating subsidiary) indirectly owns a portfolio of properties consisting of approximately 9.9 million square feet of gross leasable area, comprised of 36 industrial properties and two office properties located in 12 states in the United States. Welsh Property Trust, LLC is the external asset manager and property manager of the REIT.

Forward-Looking Information

This press release contains "forward-looking information" as defined under applicable Canadian securities law ("forward-looking information" or "forward-looking statements") which reflect management's expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words "plans", "expects", "does not expect", "scheduled", "estimates", "intends", "anticipates", "does not anticipate", "projects", "believes" or variations of such words and phrases or statements to the effect that certain actions, events or results "may", "will", "could", "would", "might", "occur", "be achieved" or "continue" and similar expressions identify forward-looking statements.  Some of the specific forward-looking statements in this press release include, but are not limited to, statements related to the REIT's intention to purchase Units for cancellation under the normal course issuer bid and the number of Units that may be purchased under the normal course issuer bid. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management of the REIT as of the date of this press release, are inherently subject to significant business, economic, competitive and other uncertainties and contingencies. The REIT's estimates, beliefs and assumptions, which may prove to be incorrect, include the various assumptions set forth herein, including, but not limited to, the REIT's and the property's future growth potential, results of operations, future prospects and opportunities, the demographic and industry trends remaining unchanged, no change in legislative or regulatory matters, future levels of indebtedness, the tax laws as currently in effect remaining unchanged, the continual availability of capital, the current economic conditions remaining unchanged, and continued positive net absorption and declining vacancy rates in the markets in which the REIT's properties are located.

When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the possibility that the REIT determines not to, or may be unable to, purchase any Units under the normal course issuer bid and the factors discussed in the REIT's recent financial statements and management's discussion and analysis and under "Risk Factors" in the REIT's final prospectus dated April 18, 2013, which are available under the REIT's profile on SEDAR at www.sedar.com. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE: WPT Industrial Real Estate Investment Trust

Scott Frederiksen, Chief Executive Officer
WPT Industrial Real Estate Investment Trust
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