FAM Real Estate Investment Trust Announces Unitholder Approval of the Acquisition of Seven Office Properties from Slate GTA Suburban Office

/NOT FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 5, 2014 /CNW/ – FAM Real Estate Investment Trust ("FAM REIT") (the "REIT") (TSX: F.UN) (TSX: F.WT) is pleased to announce that minority unitholders have approved the previously announced indirect acquisition (the "Acquisition") of a portfolio of seven office properties from Slate GTA Suburban Office Inc. for approximately $190.0 million (subject to adjustment in accordance with the terms of the definitive purchase and sale agreement in respect of the Acquisition). Details of the pending Acquisition are set forth in the REIT's information circular dated October 30, 2014 in respect of the special meeting of unitholders held today (the "Meeting") and the REIT's press release dated October 29, 2014 announcing the Acquisition.

Final results on all matters voted on at the Meeting will be filed shortly with the Canadian securities regulators and will be available on SEDAR.

The REIT anticipates closing the Acquisition prior to December 31, 2014.

Huntingdon Capital Corp., a wholly-owned subsidiary of Toronto-based Slate Asset Management LP ("Slate"), is the REIT's manager.

About FAM REIT

FAM REIT is an open-ended real estate investment trust.  Assuming completion of the Acquisition, the REIT's portfolio comprises 35 strategic and well-located real estate assets located primarily across Canada's major population centres.  The REIT is focused on maximizing value through internal organic rental and occupancy growth and strategic acquisitions.

About Slate

Slate Asset Management LP is a leading real estate investment platform with over $2 billion in assets under management. Slate is a value-oriented company and a significant sponsor of all its private and publicly-traded investment vehicles, which are tailored to the unique goals and objectives of its investors. The firm's careful and selective investment approach creates long term value with an emphasis on capital preservation and outsized returns. Slate is supported by exceptional people, flexible capital and a proven ability to originate and execute on a wide range of compelling investment opportunities. More information is available at www.slateam.com.

SOURCE: FAM Real Estate Investment Trust

Slate Asset Management LP, 200 Front St W, Suite 2400, Toronto, ON M5V 3K2; Blair Welch, Partner and Co-Founder, Slate Asset Management, 416 644 4267; Brady Welch, Partner and Co-Founder, Slate Asset Management, 416 644 4263