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QUÉBEC CITY, March 15,
2013 /CNW Telbec/ - Cominar Real Estate Investment Trust
("Cominar") closed today the previously announced
acquisition from a subsidiary of Homburg Invest Inc., CP
Development Ltd., of approximately 508,780 square feet of vacant
land located in Calgary, Alberta,
which includes a parkade structure with approximately 347 parking
spaces. The acquired properties are adjacent to the Centron Park
office buildings, which are already owned by Cominar, and as a
result of the acquisition, Cominar is now the sole owner of the
Centron Park Complex. Cominar paid $20.5
million for the properties, subject to certain closing
adjustments.
PROFILE as at March 15,
2013
Cominar is the third largest diversified real
estate investment trust in Canada
and currently remains the largest commercial property owner in the
Province of Québec. Cominar owns a real estate portfolio of 499
high-quality properties in three different market segments, that
is, office buildings, retail buildings and industrial and mixed-use
buildings. Cominar's portfolio totals 36.8 million square feet
spread out across Québec, Ontario,
the Atlantic Provinces and Western
Canada. Cominar's objectives are to pay growing cash
distributions to unitholders and to maximize unitholder value by
way of integrated, proactive management and the expansion of its
portfolio.
Forward-Looking Statements
This press release may contain forward-looking
statements with respect to Cominar and its operations, strategy,
financial performance and financial condition. These statements
generally can be identified by the use of forward-looking words
such as "may", "will", "expect", "estimate", "anticipate",
"intend", "believe" or "continue" or the negative thereof or
similar variations. The actual results and performance of Cominar
discussed herein could differ materially from those expressed
or implied by such statements. Such statements are qualified
in their entirety by the inherent risks and uncertainties
surrounding future expectations. Some important factors that could
cause actual results to differ materially from expectations
include, among other things, general economic and market
factors, competition, changes in government regulation and
the factors described under "Risk Factors" in the Annual
Information Form of Cominar. The cautionary statements qualify all
forward-looking statements attributable to Cominar and persons
acting on its behalf. Unless otherwise stated, all
forward-looking statements speak only as of the date of this press
release.
SOURCE COMINAR REAL ESTATE INVESTMENT TRUST