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BRIEF- Proreit to acquire Boulevard Industrial REIT

Published 2015-07-31, 08:27 p/m
BRIEF- Proreit to acquire Boulevard Industrial REIT

July 31 (Reuters) - PRO Real Estate Investment Trust PRV_u.V :
* Proreit to acquire Boulevard Industrial reit in a supported transaction
* Says offer implies a purchase price of $0.093 per Boulevard unit
* Will acquire all outstanding trust units of Boulevard; deal approved by
boards of both proreit, Boulevard
* Unitholders of Boulevard will receive 0.04651 of a trust unit of proreit for
each trust unit of Boulevard
* Deal represents premium of about 43% to the $0.065 closing price of
boulevard's units on July 30, 2015
* Says transaction is expected to be accretive to proreit's net asset value and
affo
* Holders of Boulevard debentures will get cash amount equal to 101% of
principal amount + accrued and unpaid interest
* Holders of Boulevard debentures will get an additional 30 days of interest as
part of the plan of arrangement
* Source text for Eikon ID:nCCN2HSB4M
* Further company coverage PRV_u.V

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