VANCOUVER, April 12, 2012 /PRNewswire/ – Pure Industrial Real Estate Trust
(“PIRET” or the “REIT”) (TSXV: AAR.UN) today announced the successful
closing of a fully leased single tenant, income producing industrial
property for a total purchase price of $10,555,333.

The property is located at 2440 Winston Park Drive, in Oakville,
Ontario, has a total rentable area of 94,988 square feet is situated on
5.074 acres and is LEED Silver certified. The property is 100% leased
to a private pharmaceutical technology firm until February 2018.

PIRET acquired the property on an all cash basis and funded the
acquisitions with equity from the bought deal financing announced
January 25, 2012. The asset was acquired at an attractive
capitalization rate of 6.75%.

After completing this transaction, PIRET’s portfolio will total
approximately 4.7 million square feet, with 36% of the properties
located in the Greater Toronto Area.

PIRET’s units are listed on the TSX Venture Exchange under the symbol
AAR.UN. For more information on PIRET, visit our website at www.piret.ca.

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 vehicle 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.

TSX Venture Exchange – AAR.UN

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)