WPT Industrial REIT, an unincorporated, open-ended real estate investment trust, and Investment Management Corporation of Ontario, an investment company, agreed to form a joint venture. "The formation of a new stabilized joint venture represents meaningful progress on our capital recycling initiative and underscores the REIT’s ability to attract and expand our relationships with strong institutional capital partners. The transaction strengthens our balance sheet, provides additional capacity to fund our growing development pipeline, and accelerates growth in our private capital management platform," Scott Frederiksen, WPT Industrial REIT CEO.