Partners Real Estate Investment Trust Appoints New Trustee

TORONTO, ONTARIO--(Marketwired - March 7, 2017) - Partners Real Estate Investment Trust (the "REIT") (TSX:PAR.UN) announced today that its Board of Trustees has appointed Mr. Grant Anthony a Trustee of the REIT. Mr. Anthony is a significant unitholder of the REIT, owning approximately 13.4% of the outstanding units. Mr. Anthony is a more than 35-year commercial real estate veteran with extensive experience owning, managing and developing a broad range of investment properties including industrial, retail plazas, retirement homes and medical buildings. Since 2014, Mr. Anthony has been President of privately-held Binscarth Holdings LP, a limited partnership which presently owns and manages over 3 million sq. ft. of industrial, medical and other properties in the GTA and surrounding areas. Prior to 2014, Mr. Anthony was involved for many years in a senior executive capacity in directing and managing the predecessor to Binscarth Holdings LP. Since 1974, Mr. Anthony has also been a licenced commercial realtor focussed on diversified investment properties across Southern Ontario.

About Partners REIT
Partners REIT is a growth-oriented real estate investment trust focused on the expansion and management of a portfolio of 35 retail and mixed-use community and neighbourhood shopping centres. These properties are located in both primary and secondary markets across British Columbia, Alberta, Manitoba, Ontario, and Quebec, and comprise a total of approximately 2.5 million square feet of leasable space.

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, including 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.