NOT FOR DISTRIBUTION IN THE U.S. OR TO U.S. NEWSWIRE SERVICES
CALGARY, Alberta, April 21, 2022 (GLOBE NEWSWIRE) -- AIP Realty Trust (formerly “Value Capital Trust”) (the “Trust” or “AIP Realty”) (TSXV:AIP.U) is pleased to announce that its units (the “Units”), will commence trading at market open today on the TSX Venture Exchange (“TSXV”) under the ticker symbol “AIP.U.”
“We are excited to offer investors an opportunity for exposure to a differentiated asset class known as light industrial flex real estate,” said Les Wulf, Executive Chairman, AIP Realty Trust. “Our facilities target a large and diverse tenant base focused on the trades and services sectors that represents more than 15% of U.S. GDP as well as small businesses. AIP Realty is pioneering an innovative model that is “redefining space solutions for those who make the world work.”
Strategy and Business Model
AIP Realty is focused on the “light industrial flex real estate” segment targeting the trades and services sectors and small businesses which are often underserved and relegated to older buildings with outdated amenities. The AllTrades facilities offers modern, appealing spaces that can be readily adapted to multiple uses.
These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses and assembly and distribution firms. They typically offer attractive fundamentals including low tenant turnover, stable cash flow and low capex intensity, as well as significant growth opportunities.
The Trust has exclusive rights to finance a portion of the development costs of and to purchase the newly completed and leased properties built by AllTrades Industrial Properties, Inc. (“AllTrades”). This structure allows Trust unitholders to benefit from development upside while minimizing risk.
AllTrades is initially focused on the fast-growing Dallas-Fort Worth (“DFW”) Texas market with five facilities currently under development representing 372,000 sq. ft. across 152 units that will be completed in 2022. Additionally, AllTrades has seven more DFW-located facilities in the design and permitting stage that represent 360,000 sq. ft. across 150 units with construction commencing in the fall of 2022 and completion expected in 2023. Together with AllTrades, AIP Realty has established a roadmap for a national rollout that is expected to generate a significant and long-term pipeline of properties to be financed and purchased by the Trust.
AIP Realty’s public listing is intended to facilitate access to capital to fund the financing of new developments and the purchase of properties as they are completed and leased. As the Trust expands its portfolio of properties, it expects to offer unitholders greater diversification and liquidity as well as the opportunity for growth in distributions.
Other Listing Details
A Filing Statement dated March 31, 2022 (the “Filing Statement”) was recently filed under the Trust’s SEDAR profile at www.sedar.com. Readers are encouraged to review the Filing Statement, which provides detailed information about the business of the Trust and the reverse takeover transaction it recently completed with Value Capital Trust (the “Transaction”). Details of the Transaction were also disclosed in a news release dated April 14, 2022 and filed on SEDAR.
About AIP Realty Trust
AIP Realty Trust is a real estate investment trust with a growing portfolio of light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. With an initial property in the Dallas-Fort Worth area and plans for a national roll-out of this innovative property offering, AIP is addressing the underserved needs of a large and diverse target market. AIP holds the exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, Inc., including five facilities currently under development in the Dallas-Fort Worth area. For more information, please visit www.aiprealtytrust.com.
For further information from the Trust, contact:
Leslie Wulf
Executive Chairman
(214) 679-5263
les.wulf@aiprealtytrust.com
Or
Greg Vorwaller
Chief Executive Officer
(778) 918-8262
Greg.vorwaller@aiprealtytrust.com
Cautionary Statement on Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of AIP Realty Trust with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding, future acquisitions by the Trust, the ability to obtain regulatory and unitholder approvals and other factors. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed financing activity, proposed acquisitions, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Trust’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Trust, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Trust does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The Trust has not registered and will not register the securities under the U.S. Securities Act. The Trust does not intend to engage in a public offering of their securities in the United States.
