Cominar announces closing of the re-opening of its 4.23% Series 2 senior unsecured debentures due December 4, 2019 in the principal amount of $100 million

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

QUÉBEC CITY, Feb. 8, 2013 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announces today that it has closed its previously announced re-opening of its 4.23% Series 2 senior unsecured debentures due December 4, 2019 in the principal amount of $100 million (the "Debentures"). The Debentures were offered at a price of $991.88 per $1,000 principal amount of Debentures, plus accrued and unpaid interest for the period from and including December 4, 2012 to, but excluding, the date of the closing of the offering. The effective yield of the Debentures (if held to maturity) is 4.368% per annum.

The Debentures were sold pursuant to an Agency Agreement with National Bank Financial Inc. and BMO Capital Markets, as co-lead agents, along with a syndicate that also includes Desjardins Securities Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Genuity Corp., Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. for total net proceeds to Cominar of approximately $98.6 million after deducting the agents' fee and the expenses of the offering. Cominar intends to use the net proceeds of the offering to repay amounts outstanding under its credit facility and for general trust purposes, thus replacing shorter-term debt with longer-term debt at a favorable long-term interest rate without increasing its aggregate indebtedness .

The Debentures 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 February 8, 2013

Cominar is the second 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 501 high-quality properties, consisting of 123 office, 158 retail and 220 industrial and mixed-use buildings that cover a total area of 36.7 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 maximize 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