Investor Presentaiton
Successful Joint Operation to Increase
our Reach
Joint operation with Crestpoint Real Estate Investments Ltd.
completed on August 4, 2022 to jointly own 42 properties.
/ Two-portion transaction, immediately accretive
to earnings:
- PROREIT and Crestpoint each acquired a 50% interest
in 21 properties owned by a third party, for a total
purchase price of $228M
In conjunction with the acquisition, PROREIT sold a
50% interest in 21 of its owned properties to
Crestpoint, having a total value of $227M, for total
consideration to PROREIT of $113.5M
Significant market leasing upside embedded
in portfolio
PROREIT is sole property manager for entire
portfolio and collects approx. $1 million in
property management and leasing fees annually.
42
Properties
41
Properties in Halifax's
Burnside Industrial Park
1
Property in Moncton,
New Brunswick
3.1M
Total GLA (sq. ft.)
PROREITTSX:PRV.UN
INVESTOR PRESENTATION / OCTOBER 2023
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