/NOT FOR DISTRIBUTION IN THE UNITED
STATES OR OVER UNITED
STATES WIRE SERVICES /
QUÉBEC CITY, Sept. 16, 2014 /CNW
Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX:
CUF.UN) announced today that it has closed its previously-announced
public offering of 15,131,700 trust units (the "Units") at a price
of $19.00 per Unit to a syndicate of
underwriters led by National Bank Financial Inc. and BMO Capital
Markets for total net proceeds to Cominar of approximately
$275.7 million, after deducting the
underwriters' fee and the estimated expenses of the offering. The
Units include 1,973,700 trust units which were issued and sold to
the underwriters upon the exercise in full of an over-allotment
option. The net proceeds from the sale of the Units will be used to
finance a portion of the previously-announced acquisition of a real
estate portfolio of 15 properties in Québec and Ontario from Ivanhoé Cambridge Inc., the real
estate subsidiary of Caisse de dépôt et placement du Québec. The
Units have been offered in all provinces and territories in
Canada by way of a short form
prospectus of Cominar.
The Units have not been and will not be registered under
the United States Securities
Act of 1933, as amended, and accordingly will not be offered,
sold or delivered, directly or indirectly, within the United States, its territories, 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 September 16,
2014
Cominar is the third largest diversified real estate investment
trust in Canada and remains the
largest commercial property owner in the Province of Québec. The
REIT owns a real estate portfolio of 526 properties in three
different market segments, that is, office properties, retail
properties and industrial and mixed-use properties. Cominar's
portfolio totals 39.5 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 through proactive management and the
expansion of its portfolio.
Cominar offers unitholders the opportunity to participate in its
Unitholder Distribution Reinvestment Plan, which allows them to
receive their monthly cash distributions as additional trust units.
Participants will be entitled to receive an additional distribution
equal to 5% of the distributions reinvested, which will be
reinvested in additional units. For more information and to obtain
a participation form, please visit Cominar's website at
www.cominar.com.
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