TORONTO (AUGUST 10, 2020) – The Investment Management Corporation of Ontario (“IMCO”) has entered into a joint venture in WPT Industrial Real Estate Investment Trust (the “REIT”) (TSX:WIR.U), committing $150 million to increase exposure to industrial properties in strategic U.S. logistics markets in its real estate portfolio.

“Consumers are relying on e-commerce more than ever and expect robust inventories and rapid delivery times throughout the U.S.,” said Brian Whibbs, Managing Director, IMCO. “Our joint venture with the REIT is well aligned to IMCO’s real estate strategy to invest in logistics networks that help meet consumer demands and diversify our portfolio to include industrial. WPT Industrial REIT has a strong track record and is a leader in the logistics space, representing the kind of resilient partner we seek for our clients and portfolio.”

“We are pleased to welcome IMCO as a new private capital partner,” said Scott Frederiksen, Chief Executive Officer of the REIT. “IMCO shares our long-term vision for the U.S. industrial sector and we look forward to investing alongside IMCO and growing our joint venture through disciplined capital allocation.”

The joint venture has recently closed on its first investment – a 772,800-square foot industrial development in Burlington County, New Jersey – and will pursue industrial value-add and development investments in strategic U.S. distribution and logistics markets. The REIT will manage the properties acquired by the joint venture.