Partners Real Estate Investment Trust Announces Appointment of New Chief Financial Officer Effective April 13, 2012

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Partners Real Estate Investment Trust (the "REIT" or "Partners REIT") (TSX
VENTURE:PAR.UN)(TSX VENTURE:PAR.DB) is pleased to announce that the board of
trustees has appointed Mr. Tony Quo Vadis as Chief Financial Officer of the
REIT, effective April 13, 2012. Mr. Quo Vadis brings over 25 years of accounting
experience and has worked in both public practice and industry, including 11
years as a Chief Financial Officer and participation in an Initial Public
Offering.


Ms Dionne Barnes, who has served as the REIT's Chief Financial Officer since
June of 2010, has resigned her position effective April 13, 2012, to pursue
other opportunities. Mr. Adam Gant, Chief Executive Officer of Partners REIT
stated that, "On behalf of the board of trustees and management of Partners
REIT, I would like to thank Dionne for her significant contributions to Partners
REIT and wish her the best in her future endeavours. In addition, we are excited
to have Tony join the team with his depth of experience both financially and
operationally."


About Partners REIT

Partners REIT is a growth-oriented real estate investment trust, which currently
owns (directly or indirectly) twenty-eight retail properties located in British
Columbia, Alberta, Manitoba, Ontario and Quebec, aggregating approximately 2.1
million square feet of leaseable 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.


Forward-looking Statements

Certain statements included in this press release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"believe", "expect," "will", "offers the opportunity", "intend", "look forward"
and similar expressions to the extent they relate to Partners REIT. The
forward-looking statements are not historical facts but reflect Partners REIT's
current expectations regarding future results or events. These forward looking
statements are subject to a number of risks and uncertainties that could cause
actual results or events to differ materially from current expectations,
including the replacement of our Chief Executive Officer effective April 13
2012, our status as a "real estate investment trust" and general economic and
industry conditions. Although Partners REIT believes that the assumptions
inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and, accordingly, readers
are cautioned not to place undue reliance on such statements due to the inherent
uncertainty therein.


The forward-looking statements contained in this press release reflect our
current views with respect to future events and are also subject to certain
other risks and uncertainties and other risks detailed from time-to-time in
Partners REIT's ongoing filings with the securities regulatory authorities,
which filings can be found at www.sedar.com. Actual results, events, and
performance may differ materially from those contemplated in Partners REIT's
forward-looking statements. Readers are cautioned not to place undue reliance on
these forward-looking statements. Partners REIT does not undertake any
obligation to publicly update or revise any forward-looking statements either as
a result of new information, future events or otherwise, except as required by
applicable securities laws.