North American REIT Income Fund Files Final Prospectus

TORONTO, Oct. 29, 2012 /CNW/ - North American REIT Income Fund (the "Fund") announces that it has filed a final prospectus dated October 26, 2012 with the securities regulatory authorities of all of the Canadian provinces and territories for an initial public offering of transferable trust units (the "Units") of the Fund at $10.00 per Unit.

The Fund's investment objectives are to provide holders of Units with (a) stable monthly cash distributions; and (b) the opportunity for capital appreciation. The Fund has been created to invest in an actively managed portfolio (the "Portfolio") comprised primarily of listed equity securities issued by real estate investment trusts ("REITs") and to a lesser extent other issuers principally engaged in the real estate industry in Canada and the United States. The Portfolio will be managed by CBRE Clarion Securities LLC. The Fund will be managed by Propel Capital Corporation ("Propel").

The initial distribution target for the Fund is $0.05 per Unit per month ($0.60 per annum to yield 6.0% on the subscription price of $10.00 per Unit). The Fund will not have a fixed distribution amount but intends to at least annually set periodic distribution targets.

Prospective purchasers may purchase Units either by cash payment or an exchange of freely tradeable securities described in the table below. Prospective purchasers under the exchange option will be required to deposit their exchange eligible securities prior to 5:00 p.m. (Toronto time) on November 9, 2012, in the manner described in the prospectus.

Name	TSX Symbol	CUSIP
Allied Properties Real Estate Investment Trust	AP.UN	019456102
Artis Real Estate Investment Trust	AX.UN	04315L105
Boardwalk Real Estate Investment Trust	BEI.UN	096631106
Brookfield Office Properties Canada	BOX.UN	112823109
Brookfield Office Properties Inc.	BPO	112900105
Calloway Real Estate Investment Trust	CWT.UN	131253205
Canadian Apartment Properties Real Estate Investment Trust	CAR.UN	134921105
Canadian Real Estate Investment Trust	REF.UN	13650J104
Chartwell Seniors Housing Real Estate Investment Trust	CSH.UN	16140U100
Cominar Real Estate Investment Trust	CUF.UN	199910100
Crombie Real Estate Investment Trust	CRR.UN	227107109
Dundee Real Estate Investment Trust	D.UN	265270207
Extendicare Inc.	EXE	30224T863
First Capital Realty Inc.	FCR	31943B100
H&R Real Estate Investment Trust	HR.UN	404428203
InnVest Real Estate Investment Trust	INN.UN	45778F101
Killam Properties Inc.	KMP	494104870
Morguard Real Estate Investment Trust	MRT.UN	617914106
Northwest Healthcare Properties Real Estate Investment Trust	NWH.UN	667495105
Primaris Retail Real Estate Investment Trust	PMZ.UN	74157U109
RioCan Real Estate Investment Trust	REI.UN	766910103
Temple Real Estate Investment Trust	TR.UN	880018106

The syndicate of agents for this offering is being led by RBC Capital Markets and CIBC, and includes GMP Securities L.P., BMO Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc., Raymond James Ltd., Canaccord Genuity Corp., Macquarie Private Wealth Inc., Desjardins Securities Inc., Dundee Securities Ltd., and Manulife Securities Incorporated.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from one of the above-noted agents. Investors should read the prospectus before making an investment decision.

SOURCE: North American REIT Income Fund

please call Raj Lala, President, Propel Capital at 416-572-2364 or visit  www.propelcapital.ca