Sunstone Realty Advisors - Announcement of Return of Capital to Unitholders

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

VANCOUVER, July 17, 2012 /CNW/ - Sunstone Opportunity Fund (2006) Limited Partnership ("Sunstone (2006) LP") and Sunstone Opportunity (2006) Debenture Fund (the "Fund", and together with Sunstone (2006) LP, "Sunstone") today announce a special distribution by way of return of capital to the Unitholders of the Fund.

As a result of the sale of Place des Quatre-Bourgeois, the Fund is returning $125.00 per $450.00 Fund unit as a return of capital.  The payment date for the return of capital is expected to be July 17, 2012 and the revised value of each Fund unit, upon such payment, will be $325.00. The record date for payment is July 12, 2012.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, United States persons absent United States registration or an applicable exemption from the United States registration requirements. This release does not constitute an offer for sale of securities in the United States.

Additional information about the Issuers is available at or www.sedar.com.

Forward-Looking Information:

Certain statements contained in this news release may constitute forward-looking statements.  Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Issuers, including: expectations and assumptions concerning the payment date for the return of capital. Forward-looking intents in this news release include: the payment date for the return of capital is expected to be July 17, 2012.

Although the Issuers believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Issuers can give no assurance that they will prove to be correct.  Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.  Actual results could differ materially from those currently anticipated due to a number of factors and risks.

The forward-looking statements contained in this news release represent the Issuers' expectations as of the date hereof, and are subject to change after such date.  The Issuers disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

Andrew Greig, Director of Business Development

Sunstone Opportunity (2006) Debenture Fund
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: [phone] or [phone]
E-mail: [email protected]