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Press release from Marketwire

Partners REIT Announces Appointment and Senior Management Changes

Wednesday, March 27, 2013

Partners REIT Announces Appointment and Senior Management Changes15:17 EDT Wednesday, March 27, 2013VICTORIA, BRITISH COLUMBIA--(Marketwire - March 27, 2013) - Partners Real Estate Investment Trust (TSX:PAR.UN) (the "REIT" or "Partners REIT") announced today that Mr. Edward W. Boomer has been appointed Chief Investment Officer responsible for the REIT's acquisitions and property investment activities.Mr. Boomer has more than twenty years of experience in commercial real estate. As Founder and President of Reference Realty Inc. he led more than $200 million in commercial real estate transactions over the last eighteen months. Prior to this he held positions of increasing responsibility including Managing Director, Canadian Operations for Kimco Realty Corp. and Vice-President and Operations Manager for GE Real Estate. He currently sits on the Board of Directors of Timbercreek Mortgage Investment Corporation. Mr. Boomer holds a Bachelor of Law degree from Queen's University and a Bachelor of Arts (Economics) from Glendon College. He has been a Member of The Law Society of Upper Canada since 1991."We are very pleased to welcome Ed to Partners REIT. We are confident his considerable real estate experience will make a strong contribution to the REIT's growth, and we look forward to working with him in the years to come," commented Lou Maroun, Chairman.About Partners REITPartners REIT is a growth-oriented real estate investment trust which currently owns (directly or indirectly) 35 retail properties well-located in in Ontario, Quebec, Manitoba, Alberta and British Columbia aggregating approximately 2.4 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 more information, please visit www.partnersreit.com.Certain statements included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "will" and similar expressions to the extent they relate to Partners REIT. The forward-looking statements are not historical facts but reflect Partners REIT's current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including access to capital, regulatory approvals, intended acquisitions and general economic and industry conditions. Although Partners REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Partners Real Estate Investment TrustPatrick MiniuttiPresident(250) 940-5530www.partnersreit.com