WPT Industrial Real Estate Investment
WPT Industrial Real Estate Investment
199 Bay Street, Suite 4000 Toronto, Ontario M5L 1A9
612-800-8530
Sector: Real Estate
Description
WPT Industrial Real Estate Investment Trust is an open-ended real estate investment trust (REIT) focused on the United States’ top tier industrial markets.
The diversified portfolio consists of approximately 110 industrial properties, covering 37.5 million square feet of gross leasable area (GLA).
WPT Industrial claims to generate cash flow from the United States industrial market and engages in maintaining high quality warehouses and distribution properties.
WPT Industrial REIT acquires, develops, owns, manages and redevelops logistics properties and institutional quality distribution facilities across 20 US states.
The Canadian-REIT is focused on expanding the real estate portfolio in the industrial market through direct investments and a proprietary private capital platform to provide strong returns to its shareholders, reportedly.
In February 2021, the publicly listed REIT completed acquisition of 14.4 acres infill industrial parcel comprising 31 dock doors, near the Port of Long Beach, Carson, California.
The TSX-listed REIT also plans to redevelop approximately 0.3 million square feet of logistics space and modern distribution facilities in the current fiscal.
In March 2021, the company in association with Investment Management Corporation of Ontario established a joint venture, wherein the former contributed 13 logistics and distribution facilities.
WPT Industrial REIT will hold a majority ownership stake in the joint venture according to the official press release. With this, the company aims to strengthen its balance sheet, fund the property pipeline and focus on capital and organic growth.
WPT Industrial also entered into building leases for development projects in Mansfield, New Jersey; Houston, Texas; Perris, California; and Eagan, Minnesota.
Amid the COVID-19 pandemic, the firm claimed to have focused on health and safety of its staff, tenants, and suppliers.
The units, under the quote ‘WIR.U’, trade on the Toronto Stock Exchange (TSX).
The REIT trust claims that its institutional and logistics properties include higher ceiling, ample parking space, and optimal column spacing catering to various tenants.
In addition, WPT Industrial REIT claims that since 2018 all the new developments are powered by LED lightings and nearly 44.8 per cent of the total portfolio utilizes water-efficient irrigation.
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