/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S./
QUÉBEC CITY, Sept. 23, 2016 /CNW
Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX:
CUF.UN) announced today that it has closed its previously-announced
public offering of 12,780,000 trust units (the "Units") at a price
of $15.65 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
$192 million, after deducting the
underwriters' fee and the estimated expenses of the offering. The
net proceeds of the sale of the Units will be used to pay down debt
outstanding under its credit facility and for general and trust
purposes.
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 23,
2016
Cominar 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 538 properties in
three different market segments, that is, office properties, retail
properties and industrial and mixed-use properties. Cominar's
portfolio totals 44.8 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 units.
Participants will be entitled to receive an additional distribution
equal to 3% 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