VANCOUVER, Jan. 9, 2018 /CNW/ – Pure Industrial Real Estate Trust (TSX: AAR.UN) ("PIRET" or the "Trust") announced today that it has entered into an arrangement agreement (the "Arrangement Agreement") with an affiliate of Blackstone Property Partners ("Blackstone"), pursuant to which Blackstone will acquire all of the outstanding trust units of PIRET (each, a "Unit") for $8.10 per Unit in an all-cash transaction valued at $3.8 billion including debt (the "Transaction"). The Transaction price of $8.10 per Unit represents a 21% premium to the closing price of PIRET Units on the TSX on January 8, 2018, the last trading day prior to the announcement of the Transaction, a 22% premium to PIRET's 30-day volume-weighted average Unit price on the TSX for the period ending January 8, 2018 and a 27% premium to the current research consensus Net Asset Value estimate of $6.40 per Unit.