BRIEF-WPT Industrial REIT announces agreements to acquire Minnesota and Ohio industrial properties

Fri Oct 7, 2016 9:22am EDT
 
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Oct 7 (Reuters) - WPT Industrial Real Estate Investment Trust

* WPT Industrial REIT announces agreements to acquire Minnesota and Ohio industrial properties

* Deal for $60,075,000

* Minnesota property is approximately 86% occupied and Ohio property is 100% occupied

* Purchase price will be satisfied with a combination of cash on hand

* Purchase price will be satisfied with assumption of a property level mortgage loan for Minnesota property

* Expect Minnesota property to be accretive to REIT's AFFO per unit upon stabilization

* Expect Ohio property to be immediately accretive to REIT's AFFO per unit

* Expects to release further property details following closing of transactions Source text for Eikon: Further company coverage: