AIP Realty Trust Announces Excellence in Wood Design Award from Texas Forestry Association for Development Partner AllTrades
07 November 2022 - 11:00PM
AIP Realty Trust (the “Trust
”) (TSXV: AIP.U) today announced that its
exclusive development and property management partner, Dallas-based
AllTrades Industrial Properties, Inc.
”), has received the Excellence in Wood
Design award from the Texas Forestry Association
”) at the annual conference held last month.
The TFA promotes the understanding and
acceptance of forest conservation practices throughout the state,
serving the broad needs of landowners, producers, and consumers.
The Excellence in Wood Design Award was first presented in 1967 and
celebrates projects whose design, engineering and construction
showcase wood’s aesthetic beauty and strength.
“AllTrades being recognized by the TFA
demonstrates its continual innovation in design, modern aesthetics
and the commitment to sustainability in its AllTrades-branded
facilities,” said Les Wulf, Executive Chairman, AIP Realty Trust.
“Sustainability is central to the values of both AllTrades and AIP,
and it is increasingly important to our tenants in selecting a
location. In addition to helping attract tenants, sustainable
building design lowers lifetime operating costs and shortens
development timelines through reduced use of resources. This is an
advantage we can offer in the newly-built AllTrades facilities that
is rarely available at older industrial properties.”
AllTrades is committed to sustainable design
standards and construction practices. Most notably in the context
of the TFA award, AllTrades’ predominantly wood structures use
cross-laminated timber (“CLT”) that is fabricated
from southern yellow pine which has contributed to carbon
sequestration for its 40-year life cycle, is then harvested and
used in wood construction and is expected to last 150 years. CLT
offers advantages over alternative construction materials in terms
of structural integrity, resilience, weight, acoustic and thermal
insulation, fire-resistance and aesthetics. AllTrades also
eliminates significant construction material waste through the
prefabrication of a large portion of building interiors and
AllTrades facilities target the trades and
services sectors and small businesses which are often underserved
and relegated to older buildings with outdated amenities. The
facilities offer turnkey modern, appealing spaces that can be
readily adapted to multiple uses. The facilities are intended to
address the underserved needs for new generation, high-quality
light industrial flex space by the large, diverse, and growing
market of trades, services, and small businesses in the US seeking
locations close to their customer base, following the growing trend
of last mile service.
AllTrades is developing light industrial flex
properties in the Dallas-Fort Worth (“DFW”) area.
As previously announced, AIP has entered into forward purchase
agreements to acquire a total of 12 facilities totaling over
840,000 square feet of leasable space, expected to be completed in
2022 and 2023. In addition, AllTrades is actively planning the next
tranche of facilities in DFW, Austin, and Houston, TX. AllTrades
plans to build all of its facilities in accordance with the
sustainable standards described above.
About AIP Realty TrustAIP
Realty Trust is a real estate investment trust with a growing
portfolio of 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.
For further information from the Trust,
contact:Leslie WulfExecutive Chairman(214)
Greg VorwallerChief Executive Officer(778)
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release is not an offer of securities
for sale in the United States. The securities may not be offered or
sold in the United States absent registration or an exemption from
registration under U.S. Securities Act of 1933, as amended (the
“U.S. Securities Act”). The Trust has not registered and will not
register the securities under the U.S. Securities Act. The Trust
does not intend to engage in a public offering of their securities
in the United States.
Source: AIP Realty Trust
AIP Realty (TSXV:AIP.U)
Historical Stock Chart
From Feb 2023 to Mar 2023
AIP Realty (TSXV:AIP.U)
Historical Stock Chart
From Mar 2022 to Mar 2023