BW Park Place Limited Partnership - Successful Completion of Takeover Bid for Limited Partnership Units

BURLINGTON, ON, Aug. 18, 2015 /CNW/ - BW Park Place Limited Partnership (the "Partnership") and Waterloo Heights Properties Ltd. ("Waterloo") today announced that Waterloo's offer (the "Offer") to purchase all of the outstanding Partnership units not already owned by Waterloo or its affiliates had expired at 5:00 p.m. (Toronto time) on August 10, 2015.  As of the closing of the transaction, in which Waterloo took up all tendered Partnership units that were free and clear of encumbrances, Waterloo owns and controls 80.4% of the Class F units and 60.9% of the Class G units. Waterloo may or may not take up further Partnership units, subject to applicable securities legislation.

A copy of this press release will be available for review at www.sedar.com.

No Securities Commission or Exchange has either approved or disapproved the information contained herein.

SOURCE BW Park Place Limited Partnership

Ms. Gloria M. Paron, [phone], [email protected]