Melcor Real Estate Investment Trust (TSX: MR.UN) today announced that the Trustees of the REIT have declared cash distributions of $0.05625 per unit for the months of January, February and March 2020, unchanged from previous months.

FOR IMMEDIATE DISTRIBUTION. NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES.

Melcor Real Estate Investment Trust (TSX:MR.UN) (the "REIT") announced today the successful issue and sale (the "Offering") of $46.0 million aggregate principal amount of 5.10% convertible unsecured subordinated debentures (the "Debentures"), including gross proceeds of $6.0 million from the exercise of the over-allotment option in full. The Offering was underwritten by a syndicate of underwriters (the "Underwriters") led by CIBC Capital Markets, and included RBC Capital Markets, BMO Nesbitt Burns Inc., Desjardins Securities Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc. and Canaccord Genuity Corp. CIBC Capital Markets was the bookrunner on the transaction. The Debentures will commence trading today on the Toronto Stock Exchange ("TSX") under the symbol "MR.DB.B".