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Press release from CNW Group

Cominar announces bought deal financing for gross proceeds of $100 million

Thursday, September 29, 2011

Cominar announces bought deal financing for gross proceeds of $100 million08:02 EDT Thursday, September 29, 2011NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S. QUEBEC, Sept. 29, 2011 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announced today that it has entered into an agreement to sell, on a bought deal basis, 4,652,000 Units from treasury to a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets. The Units will be offered at a price of $21.50 per Unit, for gross proceeds to Cominar of $100,018,000. The proceeds from the sale of the Units will be used to pay down debt outstanding under current credit facilities, which debt was used to finance Cominar's ongoing acquisition and development pipeline, and will be used to finance future acquisitions and developments.Cominar has also granted the underwriters an over-allotment option to purchase 697,800 additional Units, representing 15% of the size of the offering. The over-allotment option may be exercised until 30 days following the closing of the offering.Cominar will, by October 5, 2011, file with the securities commissions and other similar regulatory authorities in each of the provinces of Canada a preliminary short form prospectus relating to the issuance of the Units. Closing of the offering is expected to take place on or about October 20, 2011.The Units have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the UnitedStates, its possessions and other areas subject to its jurisdiction or to, or for the account or for thebenefit of a U.S. person, except pursuant to applicable exemptions from the registrationrequirements.PROFILE as at September 29, 2011Cominar is the largest commercial property owner in the Province of Québec. The REIT owns a real estate portfolio of 268 high quality properties, consisting of 53 office, 55 retail and 160 industrial and mixed-use buildings that cover a total area of 20.9 million square feet in the Greater Québec City, Montréal and Ottawa-Gatineau areas as well as in the Atlantic Provinces. Cominar's objectives are to deliver growing cash distributions to its unitholders and to maximize unitholder value through proactive management and the growth of its portfolio.Forward-Looking StatementsThis press release may contain forward-looking statements with respect to Cominar Real Estate Investment Trust and its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Cominar Real Estate Investment Trust could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described under "Risk Factors" in the annual information form of Cominar Real Estate Investment Trust. The cautionary statements qualify all forward-looking statements attributable to Cominar Real Estate Investment Trust and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and Cominar Real Estate Investment Trust has no obligation to update such statements.For further information: Mr. Michel Dallaire, P.Eng. President and Chief Executive Officer, Cominar Real Estate Investment Trust (418) 681-8151