AIP Realty Trust Announces Amendment to AllTrades Purchase Agreement

Core Viewpoint - AIP Realty Trust is amending its agreement to acquire AllTrades Industrial Properties, LLC for a total consideration of up to US$78.7 million, with changes in financing structure and terms of payment [2][3][4]. Group 1: Transaction Details - The acquisition involves the purchase of all issued and outstanding membership interests of AllTrades for an aggregate consideration of up to US$78,700,000 [2]. - The payment structure includes cash consideration for AllTrades' indebtedness and transaction expenses, along with the issuance of OP Units at a price of US$0.50 per unit [6]. - The remaining purchase price will be contingent on the number of Building Starts approved by the Board, with a payment structure based on the volume-weighted average price of the Trust's units [6]. Group 2: Approval and Governance - The transaction is subject to customary closing conditions, including approvals from the TSX Venture Exchange and Trust unitholders [4][10]. - Independent trustees have reviewed and approved the transaction, with certain trustees recusing themselves due to potential conflicts of interest [5][8]. - The Trust will seek unitholder approval requiring a two-thirds affirmative vote from disinterested unitholders [10]. Group 3: Company Overview - AIP Realty Trust focuses on light industrial flex facilities catering to small businesses in the U.S., with plans for national expansion [12]. - The Trust holds exclusive rights to finance and purchase properties developed by AllTrades Industrial Properties, Inc. [12].