Partners Real Estate Investment Trust Files Final Prospectus
December 30 2010 - 7:36AM
PR Newswire (Canada)
VICTORIA, Dec. 30 /CNW/ -- /NOT FOR DISSEMINATION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES/ VICTORIA, Dec. 30
/CNW/ - Partners Real Estate Investment Trust ("Partners REIT" or
the "Trust") (TSX-V: PAR.UN) announced that it has closed its
previously announced offering of 4,680,000 units, at a price of
$1.60 per unit, for aggregate gross proceeds of $7,488,000. In
connection with the closing of the offering, the Underwriters (as
defined below) also exercised their option to purchase up to an
additional 468,000 units at a price of $1.60 per unit on the same
terms and conditions as the offering. The aggregate gross proceeds
of the offering were $8,236,800 and the net proceeds to the Trust
(before deducting expenses of the offering) were $7,742,592. TD
Securities Inc. and CIBC World Markets Inc. acted as co-lead
managers, along with a syndicate of co-managers including, National
Bank Financial Inc., Scotia Capital Inc., Canaccord Genuity Corp.,
Dundee Securities Corporation and Macquarie Capital Markets Canada
Ltd. (collectively, the "Underwriters"). The net proceeds of the
offering will be used to finance possible future property
acquisitions and for general trust purposes. This news release
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of such jurisdiction. The securities offered
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "1933 Act"), and may not be
offered or sold within the United States or to, or for the account
or benefit of, U.S. persons, except in certain transactions exempt
from the registration requirements of the 1933 Act. About Partners
REIT Partners REIT is a growth-oriented real estate investment
trust, which currently owns (directly or indirectly) ten retail
properties, well-located in Ontario and Quebec, aggregating
approximately 1.1 million square feet of leaseable space. Partners
REIT focuses on expanding and managing a portfolio of retail and
mixed-use community and neighbourhood shopping centres located in
both primary and secondary markets across Canada. Forward-looking
Statements Certain statements included in this press release
constitute forward-looking statements, including, but not limited
to, those identified by the expressions "expect," "will" and
similar expressions to the extent they relate to Partners REIT. The
forward-looking statements are not historical facts but reflect
Partners REIT's current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations, including the use
of proceeds of the offering, access to capital, regulatory
approvals, intended acquisitions and general economic and industry
conditions. Although Partners REIT believes that the assumptions
inherent in the forward-looking statements are reasonable,
forward-looking statements are not guarantees of future performance
and, accordingly, readers are cautioned not to place undue reliance
on such statements due to the inherent uncertainty therein. Neither
the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/December2010/30/c8078.html
pPatrick Miniutti, President and Chief Operating Officer (250)
595-9328/p
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