Moray Tawse

June 26, 2017 19:41 ET

Moray Tawse Partners REIT Early Warning Press Release

TORONTO, ONTARIO--(Marketwired - June 26, 2017) - Between October 2015 and May 2017, Mr. Moray Tawse acquired, directly or indirectly, 594,545 units ("Units") of Partners Real Estate Investment Trust (the "REIT") under the REIT's dividend reinvestment program at an average price of $3.3999 per Unit. In addition, Mr. Tawse acquired, directly or indirectly, 284,300 Units, between November 2015 and September 2016, through the public market at an average price of $3.3801 per Unit.

Prior to the acquisitions referred to above (the "Acquisitions"), Mr. Tawse owned, directly or indirectly, 5,037,797 Units, representing approximately 15.10% of the issued and outstanding Units. After completion of the Acquisitions, Mr. Tawse owns, directly or indirectly, 5,916,642 Units, representing approximately 17.33% of the REIT's 34,146,726 issued and outstanding Units as reported in its Management's Discussion and Analysis dated May 3, 2017.

Mr. Tawse acquired the Units for investment purposes. Depending on market conditions, circumstances and other relevant factors, Mr. Tawse may, from time to time, increase or decrease his interest in the REIT, including with respect to the REIT's publicly announced rights offering.

This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the REIT's profile on SEDAR ( containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Moray Tawse at 100 University Avenue, Suite 700, North Tower, Toronto, Ontario M5J 1V6 and will be filed under the REIT's profile on SEDAR (

Moray Tawse

Mr. Tawse has over 30 years of experience in the real estate finance industry and sits on the boards of First National Financial Corporation and Regal Lifestyle Communities Inc., and is the Executive Vice President and Secretary of First National Financial Corporation.

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