Cominar announces closing of issue of units

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

QUÉBEC CITY, Aug. 21, 2012 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announces today that it has closed its previously announced public offering of 11,640,300 units (the "Units"). The Units include 1,518,300 units of Cominar which were issued upon the exercise of an over-allotment option and were sold to a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets for total net proceeds to Cominar of approximately $276 million, after deducting the underwriters' fee and the estimated expenses of the offering. The net proceeds of the sale of the Units will be used to finance a portion of the GE Capital Real Estate acquisition previously announced or to pay down debt outstanding under current credit facilities and for general and trust purposes. Indebtedness incurred under the credit facilities was used to finance Cominar's acquisitions and investments and for general and trust purposes. The Units have been offered in all provinces and territories 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.

Profile as at August 21, 2012

Cominar is the third largest diversified real estate investment trust in Canada and currently remains the largest commercial property owner in the Province of Québec. Cominar owns a real estate portfolio of 415 high-quality properties, consisting of 82 office, 158 retail and 175 industrial and mixed-use buildings that cover a total area of 30.7 million square feet in Québec, Ontario, the Atlantic Provinces and Western Canada. Cominar's objectives are to pay growing cash distributions to unitholders and to maximise unitholder value by way of proactive 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, 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.

SOURCE: COMINAR REAL ESTATE INVESTMENT TRUST

Mr. Michel Dallaire, P.Eng.
President and Chief Executive Officer, Cominar Real Estate Investment Trust
[phone]

Mr. Michel Berthelot
Executive Vice President and Chief Financial Officer, Cominar Real Estate Investment Trust
[phone] ext. 2266