Partners Real Estate Investment Trust Amends Distribution Reinvestment Plan

BARRIE, ONTARIO--(Marketwired - Jan. 26, 2016) - Partners Real Estate Investment Trust ("Partners REIT") (TSX:PAR.UN) today announces an amendment to its distribution reinvestment plan (the "Plan"). Under the Plan, Partners REIT unitholders that reside in Canada may elect to have their cash distributions reinvested in units of Partners REIT.

In order to better align with its Canadian peers, Partners REIT has elected to change the amount of additional units offered pursuant to the Plan from 5% to 3% of the amount of the reinvested distribution. This change will be effective as March 1, 2016 and will be implemented for any subsequent distributions.

About Partners REIT

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

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.