TORONTO, ONTARIO--(Marketwired - Oct. 22, 2013) - Partners Real Estate Investment Trust (the "REIT" or the "Trust") (TSX:PAR.UN)(TSX:PAR.DB)(TSX:PAR.DB.A)(TSX:PAR.DB.B) announced today that it has retained National Bank Financial Inc. to advise the recently formed special committee of the REIT as the committee evaluates strategic alternatives available to the REIT.
On October 18, 2013, the REIT announced that it was forming a special committee comprised of the independent trustees of the Trust, and chaired by James Bullock, to (A) evaluate the strategic alternatives that may be available to the Trust at this time to enhance unit holder value include, without limitation, entering into strategic alliances, the sale of all or some of the assets of the Trust, the purchase by others of some or all of the outstanding Units of the Trust, including by existing major shareholders, the issuance of Units of the Trust from treasury to others in exchange for either cash or non-cash consideration, and the recapitalization of the Trust to enable additional acquisitions and the internalization of management of the Trust, and (B) to evaluate the impact on the Trust of the League CCAA filing and to take all action the Special Committee thinks is necessary or desirable as a result of that filing.
Partners REIT
Partners REIT is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) thirty-nine retail properties, well-located in British Columbia, Alberta, Manitoba, Ontario and Quebec, aggregating approximately 2.7 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.
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Contact Information:
Andrew Wallace
416.869.6798