Cominar announces closing of issue of units

    




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

 QUÉBEC CITY, Oct. 20, 2011 /CNW Telbec/ - Cominar Real Estate Investment  Trust ("Cominar")  announces today that it has closed its  previously announced public offering of 5,207,000 units (the "Units").  The Units were sold to a syndicate of underwriters led by National Bank  Financial Inc. and BMO Nesbitt Burns Inc. for total net proceeds to  Cominar of approximately $107,2 million, after deducting the  underwriters' fee and the estimated expenses of the offering. The  proceeds from the sale of the Units will be used to pay down debt  outstanding under current credit facilities, which debt was used to  finance Cominar's ongoing acquisition and development pipeline, and  will be used to finance future acquisitions and developments. The Units  have been offered in all provinces of Canada by way of a short-form  prospectus. 

 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. 

 Portfolio as at October 20, 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 to its unitholders and to maximize  unitholder value through proactive management and the growth of its  portfolio. 

 Forward-Looking Statements 

 This press release may contain forward-looking statements with respect  to Cominar Real Estate Investment Trust and its operations, strategy,  financial performance and condition. These statements generally can be  identified by use of forward looking words such as "may", "will",  "expect", "estimate", "anticipate", "intends", "believe" or "continue"  or the negative thereof or similar variations. The actual results and  performance of Cominar Real Estate Investment Trust 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 Real  Estate Investment Trust. The cautionary statements qualify all  forward-looking statements attributable to Cominar Real Estate  Investment Trust and persons acting on its behalf. Unless otherwise  stated, all forward-looking statements speak only as of the date of  this press release and Cominar Real Estate Investment Trust has no  obligation to update such statements. 

COMINAR REAL ESTATE INVESTMENT TRUST


CONTACT:  Mr. Michel Dallaire, P.Eng.President and Chief Executive Officer, Cominar Real Estate InvestmentTrust(418) 681-8151 


    

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