Cominar announces bought deal financing for gross proceeds of $125 Million

    




 /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE  U.S./ 

 MONTREAL, Dec. 5, 2011 /CNW Telbec/ - Cominar Real Estate Investment  Trust ("Cominar")  announced today that it has entered  into an agreement to sell, on a bought deal basis, 5,734,000 Units from  treasury to a syndicate of underwriters led by National Bank Financial  Inc. and BMO Capital Markets. The Units will be offered at a price of  $21.80 per Unit, for gross proceeds to Cominar of $125,001,200. The net  proceeds of the sale of the Units will be used to pay down debt  outstanding under current credit facilities, to finance Cominar's  ongoing acquisition and development pipeline, including the proposed  acquisition of Canmarc Real Estate Investment Trust and for general and  corporate purposes. 

 Cominar has also granted the underwriters an over-allotment option to  purchase 860,100 additional Units, representing 15% of the size of the  offering. The over-allotment option may be exercised until 30 days  following the closing of the offering. 

 Cominar will, by December 8, 2011, file with the securities commissions  and other similar regulatory authorities in each of the provinces of  Canada a preliminary short form prospectus relating to the issuance of  the Units. Closing of the offering is expected to take place on or  about December 22, 2011. 

 The Units have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or  indirectly within the United States, 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 December 5, 2011 

 Cominar is the largest commercial property owner in the Province of  Québec. Cominar owns a real estate portfolio of 269 high-quality  properties, consisting of 53 office, 55 retail and 161 industrial and  mixed-use buildings that cover a total area of 21.0 million square feet  in the Greater Québec City, Montréal and Ottawa-Gatineau areas, as well  as in the Atlantic Provinces. Cominar's objectives are to deliver  growing cash distributions payable monthly to its unitholders and to  maximize unitholder value by way of integrated management and the  expansion of its portfolio. 

 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, increased  indebtedness associated to the proposed acquisition of Canmarc Real  Estate Investment Trust, 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.  

COMINAR REAL ESTATE INVESTMENT TRUST


CONTACT:  Mr. Michel Dallaire, P.Eng.President and Chief Executive Officer, Cominar Real Estate InvestmentTrust(418) 681-8151Mr. Michel BerthelotVice President and Chief Financial Officer, Cominar Real EstateInvestment Trust(418) 681-6300 ext. 2266 


    

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