TransAlta Down 3.9% After Hours as It Buys Two Colorado Natural-Gas Plants From Blackstone for US$1 Billion

Pro Real Estate Investment Trust Agrees to Acquire 17 Industrial Assets for $136.8 Million

PRO Real Estate Investment Trust (PRV-UN.TO) on Wednesday said entered into separate binding agreements to acquire a 100% interest in two industrial portfolios located in Quebec and Winnipeg, paying a combined $136.8.million.The Quebec portfolio comprises 13 industrial properties located in Quebec City, representing approximately 613,000 square feet of gross leasable area, while the Winnipeg portfolio comprises four industrial properties totaling 160,000 square feet GLA.Additionally, the REIT has entered into a conditional agreement for the acquisition of four industrial properties totaling 165,000 square feet of GLA also located in Winnipeg, for $21.7 million."The acquisitions represent a compelling strategic addition to our portfolio, delivering both immediate scale in the Quebec City market and meaningful long-term growth potential while enhancing our exposure to the Winnipeg industrial market. The acquisitions are complementary to our portfolio and provide us with a mix of stabilized income and embedded upside through leasing and mark-to-market opportunities, with small-bay industrial market rents estimated at $13 to $15 per square foot in Quebec City and $10 to $12 per square foot in Winnipeg," said chief executive Gordon Lawlor.According to the statement, upon completion of the acquisitions, REIT's portfolio will be comprised of 122 income producing commercial properties representing 7.2 million square feet of GLA and $1.2 billion of total assets with a weighted average lease term of 4.3 years.The REIT also announced Wednesday it is selling underwriters 11.15-million trust units on a bought-deal basis at a price of $6.50 per unit, raising $72.5 million. It also entered into concurrent binding subscription agreements to issue units on a non-brokered private placement basis at the offering price per unit with (a) Collingwood Investments Incorporated for gross proceeds of approximately $16.7 million and (b) Parkit Enterprise for gross proceeds of approximately $5.0 million.The $136.8 million purchase price of the acquisitions is expected to be satisfied by a combination of approximately $47.5 million in cash from the offering and concurrent private placement, and approximately $89.4 million from new mortgage financings, REIT said.The REIT's units closed down $0.06 to $6.76 on Toronto Stock Exchange.

TransAlta Announcing Acquisition of Two Fully-Contracted Gas Assets in Colorado and Concurrent $350 Million Bought Deal Offering of Common Shares

Emblem Assuming DIP Lending Role From Auxly In Connection with CCAA Proceedings of Ayurcann