On September 28, 2012, James Speakman and Shauna Towriss assisted in the completion of PIRET’s $48 million acquisition of five industrial properties in Alberta and BC. This raises the REIT’s portfolio to a total of 77 industrial properties with a combined gross leasable area of 5.4 million square feet. Net proceeds from PIRET’s previously announced public offering of 7,015,000 trust units at a price of $4.95 per unit were used to acquire the properties.