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Press release from Marketwire

Partners Real Estate Investment Trust Strengthens Management Team With Appointment of New Chief Operating Officer

Thursday, October 18, 2012

Partners Real Estate Investment Trust Strengthens Management Team With Appointment of New Chief Operating Officer07:30 EDT Thursday, October 18, 2012VICTORIA, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2012) - Partners Real Estate Investment Trust (the "REIT") (TSX:PAR.UN) announced today that it has appointed Mr. Peter D. Morris, SCLS, SCSM, SCMD, as the REIT's Chief Operating Officer, effective immediately. Mr. Patrick Miniutti will remain as the REIT's President and will have oversight on the REIT's financial and operating activities.Mr. Morris brings significant real estate experience to the REIT. Prior to his joining the REIT he was Founding Principal and Lead Consultant of Greenstead Group LLC, an international real estate asset management and development consulting firm. Prior to this, Mr. Morris was Senior Vice President, Management Services for Colliers International from 1997 to 2009, and held senior management positions with Brookfield Properties, Marathon Realty and the Cadillac Fairview Corporation. "We are very pleased to welcome Peter Morris to our senior management team," commented Patrick Miniutti, President of the REIT. "With the significant increase in the size and scale of our portfolio, Peter's depth and experience will be invaluable as we continue to execute our proven value enhancing property management strategies.""Peter is a strong addition to our team, and we look forward to working with him as we continue to grow our asset base and build value for our unitholders over the long term," added Adam Gant, Chief Executive Officer of the REIT.About Partners REITPartners REIT is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) thirty retail properties, well-located in British Columbia, Alberta, Manitoba, Ontario and Quebec, aggregating approximately 2.2 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.FOR FURTHER INFORMATION PLEASE CONTACT: Patrick MiniuttiPartners Real Estate Investment TrustPresident(250) 595-9328