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Industrial Property Trust Buys $1.1 Billion in Real Estate in 2015, Announces Public Earnings Call

Industrial Property Trust Inc., a publicly registered non-traded real estate investment trust, reported its financial results for the year ended December 31, 2016.

Overview of financial and operating results for the quarter ended December 31, 2015:

The company acquired, directly or through a joint venture partnership, 61 industrial buildings, comprising approximately 7.3 million square feet in 14 markets, for an aggregate purchase price of approximately $632.7 million. Included in these amounts are two industrial buildings acquired by the joint venture partnership, comprising 0.4 million square feet for an aggregate purchase price of $36 million.

Net operating income was $14.5 million and $3.3 million for the quarters ended December 31, 2015 and 2014, respectively.

Net loss was $17.7 million, or $0.23 per share, for the quarter ended December 31, 2015, as compared to $7.8 million, or $0.41 per share, for the same period in 2014.

Funds from operations totaled $10.3 million, or $0.135 per share, for the quarter ended December 31, 2015, as compared to $2.4 million, or $0.125 per share, for the same period in 2014.

Summary of 2015 Activities

During 2015, the company raised $806.2 million of gross equity capital from the offering.

Acquired 98 industrial buildings, comprised of approximately 13.3 million square feet, for an aggregate total purchase price of approximately $1.1 billion, exclusive of transfer taxes, due diligence expenses, and other closing costs.

Public Earnings Call

Industrial Property Trust will host a public conference call on Tuesday, March 29, 2016 to review quarterly and year-end operating and financial results for the quarter and year ended December 31, 2015.

Dwight Merriman, chief executive officer, and Tom McGonagle, chief financial officer, will present operating and financial data and discuss the company’s corporate strategy and acquisition and development activity.

The conference call will take place at 2:15 p.m. MDT and can be accessed by dialing (877) 742-5590; and entering conference ID 1555464. To access a replay of the call, contact Dividend Capital at (866) 324-7348.

Industrial Property Trust, which acquired its first property in January 2014, focuses on acquiring and operating distribution warehouses that are leased to corporate customers. It targets markets that have high barriers to entry, close proximity to large demographic bases, and/or access to major distribution hubs.

Its current portfolio includes 152 industrial buildings totaling approximately 20.6 million square feet located in 19 markets throughout the U.S. with a total purchase price of $1.6 billion. The portfolio is 95.6 percent leased with a weighted-average remaining lease term of approximately 4.7 years. As of December 31, 2015, the REIT has raised $1 billion in investor equity, including shares issued under the distribution reinvestment plan.