Retrocom Mid-Market Real Estate Investment Trust

Retrocom Mid-Market Real Estate Investment Trust

November 10, 2008 16:51 ET

Retrocom Mid-Market REIT Announces $10 Million Operating Line Facility

TORONTO, ONTARIO--(Marketwire - Nov. 10, 2008) -


Retrocom Mid-Market Real Estate Investment Trust (the "REIT") (TSX:RMM.UN) announced today that it has entered into an agreement for a new operating line facility with a maximum capacity of $10 million.

The REIT agreed to terms for a new operating line facility that is secured by properties, with a maximum draw capacity of $10 million. This facility bears interest at an annual rate of prime plus 1% and will mature on September 30, 2009. This line will replace the $5 million demand facility that was previously in place and the outstanding balance on the demand line will be transferred to the new operating line.

David Fiume President and Chief Executive Officer of the REIT said "The increase in our facility and change to an operating line gives the REIT more flexibility in its financing. We currently have no plans for the funds that this facility can provide however in today's financial market climate we thought it was prudent to have more financial resources available to the REIT."

About Retrocom Mid-Market REIT

Retrocom Mid-Market REIT is an Ontario unincorporated open-end real estate investment trust which focuses on owning and acquiring mid-market properties in primary and secondary cities across Canada with the objective of producing a geographically diversified portfolio of properties with stable and growing cash flows.

This document may contain forward-looking statements, which although based on
Management's best estimates as well as the current operating environment are subject to risks and uncertainties. As such, terms such as "anticipate", "believe", "expect", "plan" or other similar words should be taken as forward-looking statements. As a result of these potential uncertainties, any future results could differ materially from the predictions listed herein. Although Retrocom makes every effort to meet our predictions as listed in this document, we are unable to control certain circumstances such as economic, competitive or commercial real estate conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, which may be made only by means of a prospectus, nor shall there be any sale of the Units in any state, province or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such state, province or other jurisdiction. The Units of the Retrocom Mid-Market REIT have not been, and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States absent registration or an application for exemption from the registration requirements of U.S. securities laws.

Contact Information

  • Retrocom Mid-Market Real Estate Investment Trust
    David Fiume
    Chief Executive Officer
    (416) 741-7999
    (416) 741-7993 (FAX)