Temple REIT Announces Appointment of Executive Vice President

WINNIPEG, Oct. 16, 2012 /CNW/ - Temple Real Estate Investment Trust ("Temple REIT") (TSX: TR.UN) is pleased to announce the appointment of Douglas N. Wells as Executive Vice President of Temple REIT.

Mr. Wells is the newly appointed Chief Investment Officer of Shelter Canadian Properties Limited ("Shelter") and his services are being provided to Temple REIT pursuant to the asset management agreement entered into between Temple REIT and Shelter. Mr. Wells will have primary responsibility for operations, capital markets and acquisitions for Temple REIT and report to Arni C. Thorsteinson the Chief Executive Officer of Temple REIT.

Mr. Wells has an extensive background in real estate capital markets, operations and portfolio management. Prior to joing Shelter, Mr Wells was most recently employed as a Managing Principal of Lazard Real Estate Partners, LLC the real estate investment management business of Lazard Freres & Co (collectively "Lazard") in the New York office. Mr Wells started his real estate career with Shelter in 1988.

During his 15 year tenure at Lazard, Mr Wells represented the Lazard sponsored real estate funds on numerous public and private boards, including Atria Senior Living Group, LLC and CenterTrust, Inc (formerly traded CTA:NYSE).  Mr. Wells also served as President and a board member of InTown Suites, Inc (a Lazard portfolio company), an Atlanta based extended-stay hotel company with 127 hotels and 1,200 employees from 2004 to 2007.

Temple REIT is a real estate investment trust, which is listed on the Toronto Stock Exchange under the symbols TR.UN (trust units), TR.DB.B, TR.DB.C, TR.DB.D, TR.DB.E and TR.DB.S (convertible debentures).  The objective of Temple REIT is to provide Unitholders with stable cash distributions from investment in a diversified portfolio of hotel properties and related assets.  For further information on Temple REIT, please visit our website at www.treit.ca.

The Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

SOURCE: Temple REIT

Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Investor Relations
Tel: [phone], Fax: [phone], Email: [email protected]