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Press release from CNW Group

Cominar announces closing of issue of units

Thursday, October 20, 2011

Cominar announces closing of issue of units08:29 EDT Thursday, October 20, 2011NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.QUÉBEC CITY, Oct. 20, 2011 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announces today that it has closed its previously announced public offering of 5,207,000 units (the "Units"). The Units were sold to a syndicate of underwriters led by National Bank Financial Inc. and BMO Nesbitt Burns Inc. for total net proceeds to Cominar of approximately $107,2 million, after deducting the underwriters' fee and the estimated expenses of the offering. 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. The Units have been offered in all provinces of Canada by way of a short-form prospectus.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 United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to applicable exemptions from the registration requirements.Portfolio as at October 20, 2011Cominar is the largest commercial property owner in the Province of Québec. Cominar owns a real estate portfolio of 269 high quality properties, consisting of 53 office, 55 retail and 161 industrial and mixed-use buildings that cover a total area of 21.0 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