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TORONTO and NEW YORK, July 31, 2018 (GLOBE NEWSWIRE) — WPT Automated Absolute Acreage Advance Affirmation (the “REIT”) (TSX:WIR.U), Canada Alimony Plan Advance Board (CPPIB) and Alberta Advance Administration Corporation (AIMCo) appear today that they accept formed a collective adventure to accumulated a portfolio of automated backdrop in cardinal U.S. acumen markets through a value-add and development advance strategy.
The collective adventure will ambition advance up to US$1 billion of accumulated equity. CPPIB and AIMCo will anniversary own a 45% assimilation in the collective adventure and the REIT will own the absolute 10% interest.
“We are captivated to accomplice with two arch all-around absolute acreage investors that allotment our abiding eyes for the automated sector,” said Scott Frederiksen, Chief Executive Officer of the REIT. “We acknowledge the connected aplomb and abutment of AIMCo and attending advanced to architecture our accord with CPPIB through the advance and success of the collective venture.”
The collective adventure will advance in a adapted mix of cardinal U.S. acumen markets with favourable fundamentals primarily in civic hubs such as Atlanta, Chicago and Dallas, as able-bodied as in all-around aperture markets such as New Jersey, Los Angeles and Seattle.
“The U.S. automated breadth provides an adorable advance opportunity, apprenticed by trends such as advance in e-commerce, as able-bodied as the change and addition of all-around supply-chains,” said Hilary Spann, Managing Director, Head of Americas, Absolute Acreage Investments, CPPIB. “We are admiring to be partnering with WPT and AIMCo to aggrandize our attendance in this sector.”
The REIT will administer the backdrop acquired by the collective venture.
“The aggregate of AIMCo and CPPIB’s calibration and composure creates a abiding befalling that will accommodated the needs of our audience and stakeholders,” said Micheal Dal Bello, Senior Vice President, Absolute Estate, AIMCo. “AIMCo looks advanced to this accretion accord with WPT in this U.S. automated adventure with CPPIB.”
About WPT Automated REITWPT Automated Absolute Acreage Advance Affirmation is an unincorporated, advancing absolute acreage advance affirmation accustomed pursuant to a acknowledgment of affirmation beneath the laws of the Province of Ontario. The REIT has been formed to own and accomplish an institutional-quality portfolio of primarily automated backdrop amid in the United States, with a authentic focus on barn and administration properties. As of March 31, 2018, WPT Industrial, LP (the REIT’s operating subsidiary) alongside owns a portfolio of backdrop consisting of about 17.6 actor aboveboard anxiety of gross leasable area, comprised of 52 automated backdrop and one appointment acreage amid in 15 states aural the United States.
About CPPIBCanada Alimony Plan Advance Board (CPPIB) is a able advance administration alignment that invests the funds not bare by the Canada Alimony Plan (CPP) to pay accepted allowances on account of 20 actor contributors and beneficiaries. In adjustment to body a adapted portfolio of CPP assets, CPPIB invests in accessible equities, clandestine equities, absolute estate, basement and anchored assets instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is absolute and managed apart of the Canada Alimony Plan and at arm’s breadth from governments. At March 31, 2018, the CPP Fund totalled C$356.1 billion. For added advice about CPPIB, amuse appointment www.cppib.com or chase us on LinkedIn, Facebook or Twitter.
About AIMCoAIMCo is one of Canada’s better and best adapted institutional advance managers with added than C$107.1 billion of assets beneath management, as at March 31, 2018. AIMCo was accustomed on January 1, 2008 with a authorization to accommodate above abiding advance after-effects for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on account of 32 pension, award and government funds in the Province of Alberta. For added advice amuse appointment www.aimco.alberta.ca.
AIMCo’s $13.9 billion absolute acreage portfolio includes connected term, absolute investments in affection office, retail, automated and multi-unit residential backdrop amid in Canada’s above cities, and non-Canadian backdrop in markets with connected appellation advance characteristics and authentic by able bounded administration teams.
Forward-Looking StatementsThis columnist absolution contains “forward-looking information” as authentic beneath applicative Canadian balance law (“forward-looking information” or “forward-looking statements”) which reflect management’s expectations apropos objectives, plans, goals, strategies, approaching growth, after-effects of operations, performance, business affairs and opportunities of the REIT. The words” plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes” or variations of such words and phrases or statements to the aftereffect that assertive actions, contest or after-effects “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved” or “continue” and agnate expressions analyze advanced statements. Advanced statements are necessarily based on a cardinal of estimates and assumptions that, while advised reasonable by administration of the REIT as of the date of this columnist release, are inherently accountable to cogent business, bread-and-butter and aggressive uncertainties and contingencies. The REIT’s estimates, behavior and assumptions, which may prove to be incorrect, accommodate the assorted assumptions set alternating herein, including, but not bound to, targeted disinterestedness advance of the collective venture, collective adventure broker agreement and ownership, markets for collective adventure investments, the REIT’s administration of collective adventure properties, after-effects of operations, approaching affairs and opportunities, the demographic and industry trends absolute unchanged, no change in aldermanic or authoritative matters, approaching levels of indebtedness, the tax laws as currently in aftereffect absolute unchanged, the around-the-clock availability of capital, the accepted bread-and-butter altitude absolute unchanged, connected absolute net assimilation and crumbling abstraction ante in the markets in which the REIT’s and the collective venture’s backdrop are located.
When relying on advanced statements to accomplish decisions, the REIT cautions readers not to abode disproportionate affirmation on these statements, as advanced statements absorb cogent risks and uncertainties, including that there can be no affirmation that appear acquisitions will be completed and if completed on the declared terms, and should not be apprehend as guarantees of approaching achievement or after-effects and will not necessarily be authentic break of whether or not the times at or by which such achievement or after-effects will be achieved. A cardinal of factors could account absolute after-effects to alter materially from the after-effects discussed in the advanced statements, including, but not bound to, the factors discussed beneath “Risk Factors” in the REIT’s anniversary advice anatomy for the year concluded December 31, 2017, which is accessible beneath the REIT’s contour on SEDAR at www.sedar.com. These advanced statements are fabricated as of the date of this columnist absolution and, except as especially appropriate by applicative law, the REIT assumes no obligation to about amend or alter any advanced statement, whether as a aftereffect of new information, approaching contest or otherwise.
For Added Information:
WPT Automated Absolute Acreage Advance Trust:Scott Frederiksen, Chief Executive OfficerTel: (612) 800-8501Fax: (612) 800-8535www.wptreit.com
CPPIB:Darryl KonynenbeltDirector, All-around Media RelationsT: 1 416 972 [email protected]
AIMCo:Dénes NémethDirector, Corporate Communications & PlanningO: 780-392-3857M: 780-932-4013E: [email protected]
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