Partners Real Estate Investment Trust (the "REIT" or "Partners") (TSX: PAR.UN) and McCowan and Associates Ltd. ("MAA") today jointly announced that the REIT has entered into an arrangement agreement (the "Arrangement Agreement") with MAA pursuant to which MAA will acquire all of the outstanding units of the REIT (each a "Unit"), except for approximately 9,229,704 Units (representing approximately 20.03% of the outstanding Units) owned by MAA and its affiliates, for a price of Cdn. $0.78 per Unit in cash (the "Transaction").

Partners Real Estate Investment Trust (the "REIT," or "Partners") (TSX: PAR.UN) today announced its results for the three month period ended June 30, 2019 (the "second quarter").

Partners Real Estate Investment Trust (the "REIT" or "Partners") (TSX: PAR.UN) today announced that its board of trustees (the "Board") has initiated a process to explore and evaluate strategic alternatives available to the REIT, which may include, but is not limited to a sale of the REIT itself; a business combination with another party; and any other options that may be available and considered by the Board to be in the best interests of the REIT and its unitholders. The Board has retained BMO Capital Markets to advise and assist the Board in its exploration and evaluation of strategic alternatives.