WPT Industrial Real Estate Investment Trust Files Preliminary Prospectus for Initial Public Offering

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, March 15, 2013 /CNW/ - WPT Industrial Real Estate Investment Trust (the "REIT") announced today that it has filed, and obtained a receipt for, a preliminary prospectus for the initial public offering of trust units with the securities commissions or similar authorities of all provinces and territories in Canada. The proposed offering is being underwritten by a syndicate of underwriters led by CIBC and RBC Capital Markets. 

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. Following closing, Welsh Property Trust, LLC will be the external asset manager and property manager of the properties owned by the REIT.

The preliminary prospectus contains important information relating to these securities and has been filed with the securities commissions or similar authorities of all provinces and territories in Canada. The preliminary prospectus has not yet become final for purposes of a distribution of securities to the public and remains subject to completion or amendment. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in such province or territory. Copies of the preliminary prospectus will be available at www.sedar.com.

Completion of the initial public offering is subject to and conditional upon the receipt of all necessary approvals, including regulatory approvals.

The securities have not been, and will not be, registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer or sale of any securities in the United States, and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 U.S., with a particular focus on warehouse and distribution industrial real estate. At the closing of the offering, the REIT will indirectly acquire from affiliates of Welsh Property Trust, LLC a portfolio of properties consisting of approximately 8.6 million square feet of gross leasable area, comprised of 35 industrial properties and two office properties, located in 12 states in the United States.

About Welsh Property Trust, LLC

Welsh Property Trust, LLC ("Welsh"), a privately held real estate investment management company, will be the external asset manager and property manager of the REIT. The Welsh organization was founded in 1977 and has extensive experience in the acquisition, management and disposition of industrial and office real estate assets in attractive markets throughout the U.S. Since 2005, Welsh and its predecessors have completed real estate transactions with an aggregate value of over $1 billion, representing 20 million square feet of gross leaseable area.

Forward-Looking Statements

This press release may contain forward-looking statements which reflect management's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements, except as required by applicable Canadian securities law.

SOURCE: WPT Industrial Real Estate Investment Trust

Scott Frederiksen, Chair and Chief Executive Officer 
WPT Industrial Real Estate Investment Trust 
Tel: [phone]
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