AIP Realty Trust Announces Extension of Non-Brokered Offering

VANCOUVER, British Columbia, May 27, 2024 (GLOBE NEWSWIRE) -- AIP Realty Trust (the “Trust” or “AIP”) (TSXV: AIP.U) today announces that it has received approval from the TSX Venture Exchange (the “TSXV”) to extend the price reservation on its non-brokered private placement (the “Financing”), for which the Trust announced the closing of a first tranche on April 19, 2024, by an additional 30 days until June 27, 2024. The Trust intends to close a second tranche as well as any additional tranches thereafter, on or before June 27, 2024.

The Financing consists of the issuance of up to 6,000,000 Preferred Units – Series B Convertible (each, a “Preferred Unit”), at a price of US$0.50 per Preferred Unit for aggregate gross proceeds of up to US$3,000,000. An aggregate of 1,100,000 Preferred Units for aggregate gross proceeds of US$550,000 have been issued under the first tranche. The terms and conditions of the Preferred Units are available on the Trust’s SEDAR+ profile at www.sedarplus.com.

The Trust intends to use the proceeds of the Private Placement for working capital and general corporate purposes.

Completion of the Financing, including a second or other tranches of the Financing remains subject to approval from the TSX Venture Exchange (the “TSXV”).

About AIP Realty Trust

AIP Realty Trust is a real estate investment trust with a growing portfolio of AllTrades branded Serviced Industrial Business Suites (“SIBS”) light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses and assembly and distribution firms. They typically offer attractive fundamentals including low tenant turnover, stable cash flow and low capex intensity, as well as significant growth opportunities. With an initial focus on the Dallas-Fort Worth market, AIP plans to roll out this innovative property offering nationally. AIP holds the exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, Inc. For more information, please visit www.aiprealtytrust.com.