Partners Announces Results of Annual General Meeting

TORONTO, ONTARIO--(Marketwired - May 25, 2016) - Partners Real Estate Investment Trust (the "REIT," or "Partners") (TSX:PAR.UN) announces the results of voting conducted on May 25, 2016, at the REIT's Annual General Meeting of Unitholders.

A total of approximately 18,989,254 shares (approximately 56.60% of 33,547,277 outstanding voting shares) were represented in person or by proxy. Unitholders voted in favour of terminating the REIT's unitholder rights plan and as such the plan will terminate effective as of May 25, 2016.

A summary of Trustee voting results is presented below:

Additional matters subject to vote were as follows:

About Partners REIT

The REIT is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) 36 retail properties, located in British Columbia, Alberta, Manitoba, Ontario, and Quebec, aggregating approximately 2.5 million square feet of leasable space. The 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.

Disclaimer

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. 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.