08:22 AM EDT, 05/13/2025 (MT Newswires) -- Pro Real Estate Investment Trust (PRV-UN.TO) on Tuesday agreed to buy a 100% interest in a portfolio of six high-quality industrial properties in Winnipeg, Manitoba for about $96.5 million, excluding closing costs, from Parkit Enterprise ( PKTEF ) .

In connection with the deal, PROREIT will pay about $40 million by issuing to Parkit ( PKTEF ) about 6.45 million trust units and Class B LP Units of PRO REIT Limited Partnership, each of which is exchangeable for a PROREIT trust unit at $6.20 apiece. Following the transaction, Parkit ( PKTEF ) will own about 9.6% of PROREIT. About $63 million of the purchase price will be covered by a 3-year secured non-revolving credit facility at an anticipated fixed swap rate of near 4.4%.

The deal is expected to be accretive to 2025 consensus AFFO per unit and the deal is expected to close in the second quarter of 2025.

Shares of the company closed up 0.2% to $5.09 on Monday on the Toronto Stock Exchange.