Pure Industrial Real Estate Trust is a privately held, internally managed real estate investment trust founded in 2007 and headquartered in Toronto, Canada. The company operates a diversified portfolio of industrial properties across Canada's key distribution and logistics markets. Pure Industrial was privatized on May 24, 2018, when Blackstone Property Partners and Ivanhoé Cambridge acquired the company for $3.8 billion, including debt, in an all-cash transaction valued at $8.10 per unit. Blackstone holds a 62% ownership stake, while Ivanhoé Cambridge, a subsidiary of CDPQ (Caisse de dépôt et placement du Québec), owns 38%. Following the transaction, the trust units ceased trading on the Toronto Stock Exchange and were delisted.
The company's investment strategy centers on acquiring, leasing, operating, and managing income-producing industrial properties in markets across Canada. Pure Industrial's portfolio spans over 42 million square feet across more than 360 properties, serving approximately 1,400 customers daily. The company's asset base includes small warehouses to large-scale industrial developments positioned in distribution and logistics hubs throughout Canada.
Pure Industrial operates with six regional offices across Canada, maintaining a workforce of more than 300 industry professionals. The company's geographic footprint includes the Greater Toronto Area, where it holds approximately 15.7 million square feet of industrial space, as well as operations in Montreal, Quebec City, Vancouver, and other Canadian markets. The company's portfolio is concentrated in Canadian markets, with the Greater Toronto Area representing its largest exposure.
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