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Press release from CNW Group

Cominar announces closing of the public offering of its 4.941% series 4 senior unsecured debentures due July 27, 2020 in the principal amount of $100 million

Thursday, July 25, 2013

Cominar announces closing of the public offering of its 4.941% series 4 senior unsecured debentures due July 27, 2020 in the principal amount of $100 million

08:16 EDT Thursday, July 25, 2013

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

QUÉBEC CITY, QC, July 25, 2013 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announces today that it has closed the previously announced public offering of its 4.941% Series 4 senior unsecured debentures due July 27, 2020 in the principal amount of $100 million (the "Debentures"). The Debentures were offered at a price of $1,000 per $1,000 principal amount of Debentures.

The Debentures were sold pursuant to an Agency Agreement with National Bank Financial Inc. and BMO Capital Markets, as co-lead agents, along with a syndicate that also includes RBC Dominion Securities Inc., Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc. and Macquarie Capital Markets Canada Ltd., for total net proceeds to Cominar of approximately $99.4 million after deducting the agents' fee and the expenses of the offering. Cominar intends to use the net proceeds of the offering to repay amounts outstanding under its credit facility and for general trust purposes, thus replacing shorter-term debt with longer-term debt without increasing its aggregate indebtedness.

The Debentures 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.

PROFILE as at July 25, 2013

Cominar Real Estate Investment Trust is the third largest diversified real estate investment trust in Canada and currently remains the largest commercial property owner in the Province of Québec. The REIT owns a real estate portfolio of 499 properties in three different market segments, that is, office buildings, retail buildings and industrial and mixed-use buildings. Cominar's portfolio totals 36.9 million square feet spread out across Québec, Ontario, the Atlantic Provinces and Western Canada. Cominar's objectives are to pay growing cash distributions to unitholders and to maximize unitholder value by way of integrated, proactive management and the expansion of its portfolio.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to Cominar and its operations, strategy, financial performance and financial condition. These statements generally can be identified by the use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative  thereof or similar variations. The actual results and performance of Cominar discussed herein 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. The cautionary statements qualify all forward-looking statements attributable to Cominar and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release.

SOURCE COMINAR REAL ESTATE INVESTMENT TRUST

For further information:

Mr. Michel Dallaire, P.Eng.
President and Chief Executive Officer, Cominar Real Estate Investment Trust
(418) 681-8151

Mr. Sylvain Cossette
Executive Vice President and Chief Operating Officer, Cominar Real Estate Investment Trust
(418) 681-6300 ext. 2245

Mr. Michel Berthelot
Executive Vice President and Chief Financial Officer, Cominar Real Estate Investment Trust
(418) 681-6300 ext. 2266

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