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Partners Real Estate Investment Trust Announces Discontinuation of Strategic Alternative Process

VICTORIA, BRITISH COLUMBIA -- (Marketwired) -- 12/04/13 -- Partners REIT (TSX: PAR.UN) (the "REIT" or "Partners REIT") announced today that the REIT's Board of Trustees, as reconstituted today, has determined to discontinue the special process involving the evaluation of strategic alternatives previously announced on October 18, 2013. The Trustees, however, will continue to evaluate the ongoing impact on the REIT of League Assets Corp.'s Companies' Creditors Arrangement Act (Canada) filing and the independent Trustees will take all action as they deem necessary or desirable in the best interests of unitholders.

Partners REIT

Partners REIT is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) 39 retail properties, well-located in British Columbia, Alberta, Manitoba, Ontario and Quebec, aggregating approximately 2.7 million square feet of leasable space. Partners REIT focuses on expanding and managing a portfolio of retail and mixed-use community and neighbourhood shopping centres located in both primary and secondary markets across Canada.

Partners Real Estate Investment Trust
Patrick Miniutti
Chief Executive Officer
(250) 940-5500

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