AIP Realty Trust has entered into forward-purchase agreements on 12 Texas serviced industrial business suites.

Each property is covered by its own deal subject to specific conditions, Vancouver-based AIP said in its quarterly report. The suites are located in a shallow-bay light industrial flex space in the Dallas-Fort Worth (DFW) market.

The suites are being developed by AIP’s development partner AllTrades Industrial Properties, which is a related party of the trust. Both AIP and Lewisville, Tex.-based AllTrades are led by the same executive team, including CEO Greg Vorwaller..

As part of its agreement with AllTrades, the trust has an exclusive right to purchase all of AllTrades’ completed and leased facilities, along with any development projects.

The 12 forward-purchased properties include five DFW facilities already, or almost, completed, and six additional projects on which development has commenced.

AllTrades and Dallas-based real estate private-equity investor Trinity Investors are funding the 12 facilities.

AllTrades is actively planning its next tranche of facilities, to be located in DFW and Houston.

Pictured: AIP property located in Lewisville, Tex.

Photo: AIP