FAM REIT receives favourable voting recommendation from leading independent proxy advisory firm

 Recommends that Unitholders Vote FOR Its Transformational Acquisition of Seven GTA Office Properties

TORONTO, Nov. 24, 2014 /CNW/ - FAM Real Estate Investment Trust (the "REIT") (TSX: F.UN) (TSX: F.WT) is pleased to announce that ISS Proxy Advisory Services ("ISS"), a leading independent proxy advisory firm, has recommended that unitholders (the "Unitholders") of the REIT vote in favour of the unitholder resolution approving the acquisition (the "Acquisition") of a portfolio of seven office properties (the "Acquisition Properties") from an affiliate of Slate Properties Inc. for approximately $190.0 million.

While endorsing the Acquisition, ISS notes that "[t]he Acquisition represents a transformational transaction for the REIT which will benefit Unitholders through increased scale and improved asset quality. The Acquisition Properties are located in attractive submarkets within the GTA which have compelling real estate fundamentals and are complementary to the REIT's existing office property portfolio. The purchase price paid by the REIT appears reasonable as it is below the estimated appraisal value."

ISS concludes: "Overall, despite the somewhat negative market reaction, in light of the sound strategic rationale behind the acquisition, a vote FOR this [Acquisition] resolution is warranted."

Welcoming the ISS recommendation, Gary Samuel, Chairman of the special committee of independent trustees of the REIT said, "I am pleased that ISS, a leading independent proxy research firm, supports this transaction and supports the underlying benefits of the Acquisition.  We encourage Unitholders to vote FOR the Acquisition accordingly".

Unitholders are invited to attend a special meeting of Unitholders of the REIT to be held on December 5, 2014 at 10:00 a.m. (Toronto time) at the offices of Blake, Cassels & Graydon LLP, Suite 4000, Commerce Court West, 199 Bay Street, Toronto, Ontario.  Unitholders are urged to ensure their votes are cast no later than December 3, 2014 at 5:00 p.m. (Toronto time) to ensure that their REIT units will be represented at the meeting, whether or not they are personally able to attend.  If you have any questions or requests for assistance, please contact the REIT's information agent, Laurel Hill Advisory Group, by email at [email protected], or by telephone at 1 [phone] (Toll Free in North America) or [phone] (Collect Outside North America).

About FAM Real Estate Investment Trust
The REIT is presently a diversified commercial real estate investment trust currently focused on owning and acquiring strategically well-located office, industrial and retail real estate located primarily across Canada's large population centres.

SOURCE: FAM Real Estate Investment Trust

Laurel Hill Advisory Group, North America Toll Free: 1-877-452-7184, Collect Calls outside North America: 416-304-0211, Email: [email protected]