John G Smith

John G. Smith is Newcom Media's vice-president - editorial, and the editorial director of its trucking publications -- including Today's Trucking, trucknews.com, and Transport Routier. The award-winning journalist has covered the trucking industry since 1995.

Avatar photo

TFI to sell, lease back four properties

MONTREAL, QC - Pure Industrial Real Estate Trust (PIRET) will buy and lease back four TFI International properties, Canada's largest fleet has announced. The $135.7-million deal includes two facilities in Montreal, and another two in Toronto, and represents less than 20% of the net book value of TFI's real estate portfolio. "This transaction underlines our continuous efforts to unlock shareholder value," said Alain Bédard, chairman, president, and Chief Executive Officer of TFI International. "Through this sale, we believe TFI has realized market value for these real estate assets.