News Releases

PRESS RELEASES

«Back
Jul 11, 2014

Industrial Property Trust Announces Acquisition Activity


DENVER, July 11, 2014 (GLOBE NEWSWIRE) -- Industrial Property Trust Inc. ("IPT"), an industrial real estate investment trust that owns and operates distribution warehouses throughout the United States, announced today that during June 2014, it acquired three buildings totaling 481,000 square feet, located across three major industrial markets nationwide for an aggregate purchase price of approximately $38.1 million.

On June 6, 2014, IPT acquired a single tenant distribution center totaling 247,000 square feet located in Southern California for approximately $20.0 million. This is IPT's first acquisition in the Southern California market. This property is 100% leased to Bissell Inc., a leading manufacturer of vacuum cleaners and floor care products.

On June 20, 2014, IPT acquired a 71,000 square foot, single tenant distribution center located in South Florida. This is IPT's second acquisition in the South Florida market. This property is 100% leased to Woodfield Distribution, LLC, a third-party logistics provider specializing in pharmaceutical supply chain solutions for the healthcare industry.

On June 30, 2014, IPT acquired a multi-tenant industrial center totaling 163,000 square feet located in the Chicago market for approximately $10.9 million. This marks IPT's first acquisition in the Chicago market. This property is 100% leased to two customers: Ulta Salon, Cosmetics & Fragrance, Inc., a beauty retailer that provides one-stop shopping for prestige, mass and salon products and salon services, and BarrierSafe Solutions International, Inc., an innovator and manufacturer of personal protective equipment.

"The acquisition of these properties continues to grow IPT's presence in targeted supply-constrained markets as it builds a national operating platform in the industrial real estate sector," said Dwight Merriman, Chief Executive Officer of IPT.

As of June 30, 2014, IPT had acquired seven buildings totaling 812,000 square feet in five major industrial markets for an aggregate purchase price of approximately $65.5 million.

About Industrial Property Trust Inc.

IPT is focused on acquiring and operating high-quality distribution warehouses that are leased to corporate customers. IPT's core strategy is to build a national platform of high-quality industrial properties by targeting markets that have high barriers to entry, proximity to a large demographic base, and / or access to major distribution hubs. IPT has operated and elected to be treated as a real estate investment trust ("REIT") for U.S. federal income tax purposes, commencing with the taxable year that ended on December 31, 2013, and IPT intends to continue to operate in accordance with the requirements for qualification as a REIT.

This press release contains forward-looking statements that are based on IPT's current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties, including, without limitation, IPT's ability to consummate additional acquisitions and otherwise execute on its investment strategy, the availability of affordable financing, IPT's ability to identify and time investments that will generate attractive returns for investors and those risks set forth in IPT's Annual Report on Form 10-K for the year ended December 31, 2013, as amended or supplemented by IPT's other filings with the Securities and Exchange Commission (available at www.sec.gov). Any of these statements could be inaccurate, and actual events or IPT's investments and results of operations could differ materially from those expressed or implied. To the extent that IPT's assumptions differ from actual results, IPT's ability to meet such forward-looking statements, including its ability to consummate additional acquisitions and financings, to invest in a diversified portfolio of quality real estate investments, and to generate attractive returns for investors, may be significantly hindered. You are cautioned not to place undue reliance on any forward-looking statements. IPT cannot assure you that it will attain its investment objectives.

CONTACT: Eric Paul

         Dividend Capital

         (303) 228-2200

Please be aware that IPT, Industrial Property Trust Advisors LLC, Industrial Property Trust Advisors Group LLC, Black Creek Capital Markets, LLC and their respective officers, directors, employees and affiliates are not undertaking to provide impartial investment advice or to give advice in a fiduciary capacity in connection with IPT’s public offering or the purchase of IPT’s common stock and that the Advisor and the Dealer Manager have financial interests associated with the purchase of IPT’s common stock, as described in IPT’s prospectus, including fees, expense reimbursements and other payments they anticipate receiving from IPT in connection with the purchase of IPT’s common stock. These materials are not intended as a recommendation to make an investment in IPT’s common stock and investors should consult their financial advisors before making an investment decision.

NOT A DEPOSIT • NOT FDIC INSURED • NOT GUARANTEED BY THE BANK • MAY LOSE VALUE • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Check the background of this firm on FINRA's Broker Check.

The information within this website concerning IPT is solely for informational purposes and constitutes neither an offer to sell nor the solicitation of an offer to buy securities by any person in any jurisdiction. The information presented herein is not, and is not intended to be, a complete discussion of all material information you should know about IPT or any other product.

The dealer manager for IPT's public offering of securities is Black Creek Capital Markets, LLC, member FINRA.