Retrocom REIT Announces Closing of Transaction to Sell Lansdowne Plaza

TORONTO, ONTARIO--(Marketwired - Aug. 29, 2013) -

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Retrocom Real Estate Investment Trust ("Retrocom REIT" or "REIT") (TSX:RMM.UN) today announced that it has completed the sale of Lansdowne Plaza in Saint John, New Brunswick.

"This transaction is in keeping with the REIT's strategic plan which includes the disposition of non-core assets and repositioning the portfolio." said Richard Michaeloff, President and CEO.

About Retrocom REIT

Retrocom REIT is an unincorporated, open-end real estate investment trust which focuses on owning and acquiring retail properties across Canada with the goal of enhancing long-term unitholder value.

Forward-Looking Information

This press release may contain forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", and by discussions of strategies that involve risks and uncertainties. The forward-looking statements are based on certain key expectations and assumptions made by the REIT regarding, among other things, the use of the net proceeds from the offering, and the closing of the acquisition. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Although management of the REIT believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that future results, levels of activity, performance or achievements will occur as anticipated. Neither the REIT nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements, and no one has any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or such other factors which affect this information, except as required by law.