Pure Industrial Real Estate Trust (PIRET) has announced the successful closing of a single-tenant industrial property in Calgary, Alta. for $12.1 million.

The total purchase price represents a going-in capitalization rate of 7.25 per cent.

The property comprises of an aggregate of 27,781 square feet of gross leasable area on about 8.33 acres of land.

PIRET also closed on a portfolio of five multi- and single-tenant industrial properties in southern Ontario for $93 million. The properties are 100 per cent leased to international, national and regional tenants.

PIRET’s portfolio now includes 161 properties, totalling 13.9 million square feet of leasable space.