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BRIEF-PROREIT announces $40.4 mln of proposed acquisitions in Ontario and Atlantic Canada

May 16 PRO Real Estate Investment Trust -

* PRO Real Estate Investment Trust - acquisitions will be partially financed by proceeds from profitable sale of two industrial buildings in etobicoke, ontario

* PRO Real Estate Investment Trust - properties will be financed by assumption of $16.7 million in mortgages

* PRO REIT- also entered into loi and expects to sign binding conditional agreement for acquisition of light industrial property for $5.7 million

* PRO Real Estate Investment Trust - properties will also be financed by issuance of $7.2 million of class b limited partnership units of pro reit ltd partnership

* PRO REIT- entered into binding agreement for sale of two industrial properties in etobicoke, ontario for gross proceeds of $22.3 million

* PRO Real Estate Investment Trust - sale transaction will generate in excess of $10 million in free cash Source text for Eikon: Further company coverage:

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