Cominar Real Estate Investment Trust Announces Closing of Previously-Announced Public Offering of Trust Units

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES /

QUÉBEC CITY, Sept. 16, 2014 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announced today that it has closed its previously-announced public offering of 15,131,700 trust units (the "Units") at a price of $19.00 per Unit to a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets for total net proceeds to Cominar of approximately $275.7 million, after deducting the underwriters' fee and the estimated expenses of the offering. The Units include 1,973,700 trust units which were issued and sold to the underwriters upon the exercise in full of an over-allotment option. The net proceeds from the sale of the Units will be used to finance a portion of the previously-announced acquisition of a real estate portfolio of 15 properties in Québec and Ontario from Ivanhoé Cambridge Inc., the real estate subsidiary of Caisse de dépôt et placement du Québec. The Units have been offered in all provinces and territories in Canada by way of a short form prospectus of Cominar.

The Units have not been and will not be registered under the United States Securities Act of 1933, as amended, and accordingly will not be offered, sold or delivered, directly or indirectly, within the United States, its territories, 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 September 16, 2014

Cominar is the third largest diversified real estate investment trust in Canada and remains the largest commercial property owner in the Province of Québec. The REIT owns a real estate portfolio of 526 properties in three different market segments, that is, office properties, retail properties and industrial and mixed-use properties. Cominar's portfolio totals 39.5 million square feet spread out across Québec, Ontario, the Atlantic Provinces and Western Canada. Cominar's objectives are to pay growing cash distributions to unitholders and to maximize unitholder value through proactive management and the expansion of its portfolio.

Cominar offers unitholders the opportunity to participate in its Unitholder Distribution Reinvestment Plan, which allows them to receive their monthly cash distributions as additional trust units. Participants will be entitled to receive an additional distribution equal to 5% of the distributions reinvested, which will be reinvested in additional units. For more information and to obtain a participation form, please visit Cominar's website at www.cominar.com.

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

Michel Dallaire, Eng., President and CEO; Sylvain Cossette, Executive Vice-President and COO; Gilles Hamel, CPA, CA, Executive Vice-President and CFO; Tel: [phone]; [email protected]; [email protected]; [email protected]