Partners REIT closes public offering

On January 10, 2013, Partners Real Estate Investment Trust (Partners REIT) announced that it closed its previously announced offering of 3,363,750 units (including 438,750 units issued pursuant to the exercise of the over-allotment option in full) of the REIT at a price of C$7.70 per Unit representing gross proceeds of approximately C$25.9 million, on a bought deal basis, to a syndicate of underwriters led by Scotia Capital, National Bank Financial and Canaccord Genuity Corp., with Scotia Capital and National Bank Financial acting as joint bookrunners, and including, CIBC World Markets Inc., RBC Dominion Securities, TD Securities, Macquarie Capital Markets Canada, Raymond James and M Partners.

Net proceeds from the offering were used by the REIT to repay the approximately C$6.9 million of indebtedness drawn down on the REIT's C$50 million credit facility, which was used in connection with the acquisition of the Nun's Island properties, to fund future acquisitions and for general trust purposes.

Partners REIT is a real estate investment trust, which currently owns (directly or indirectly) 33 retail properties located in British Columbia, Alberta, Manitoba, Ontario and Québec comprising approximately 2.3 million square feet of leasable space.

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