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Partners Announces Results for the Fourth Quarter and Full Year 2016

TORONTO, ONTARIO — (Marketwired) — 03/22/17 — Partners Real Estate Investment Trust (the “REIT,” or “Partners”) (TSX: PAR.UN) today announced its results for the three and twelve month periods ended December 31, 2016 (the “fourth quarter” and “full year 2016,” respectively).


“Partners– results for the fourth quarter of 2016 reflect the REIT–s focus on our existing portfolio, including the decision earlier this year to internalize the management of our properties outside of Quebec and the concentration of external management services inside Quebec to a single service provider,” stated Jane Domenico, the REIT–s CEO. “The initial benefits of this decision are evident in today–s quarterly results, which reflect improvements in both our operational costs and portfolio occupancy. The recently announced new pad development at Mariner Square and at Place Desormeaux coupled with significant new tenants at our Cornwall Square property in Ontario are concrete examples of this focus. We look forward to creating similar opportunities across our portfolio in 2017. Even though the Canadian retail real estate landscape remains challenging, today–s results give us confidence that the operational changes we have made to date have laid the foundation for Partners– long-term success.”

Further Information

A more detailed analysis of the REIT–s financial results for the fourth quarter and full year 2016 are included in the REIT–s Management Discussion and Analysis and Consolidated Financial Statements, which have been filed on SEDAR and can be viewed at or on the REITs– website at .

Conference Call

Partners will host a conference call at 8:30 AM Eastern on Thursday, March 23, 2017, at which time Partners– management will both review the financial results and discuss the REIT–s strategic outlook.

Conference Dial-In Details

Toll Free (North America): 800-377-0758

Local: 416-340-2216

Instant Replay Details (Available until March 30, 2017)

Toll Free (North America): 800-408-3053

Passcode: 9254601

A recording of the conference call will also be available via Partners– website.

About Partners REIT

Partners REIT is a growth-oriented real estate investment trust focused on the expansion and management of a portfolio of 35 retail and mixed-use community and neighbourhood shopping centres. These properties are located in both primary and secondary markets across British Columbia, Alberta, Manitoba, Ontario, and Quebec, and comprise a total of approximately 2.5 million square feet of leasable space.


Certain statements included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect,” “will” and similar expressions to the extent they relate to Partners REIT. The forward- looking statements are not historical facts but reflect Partners REIT–s current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including access to capital, regulatory approvals, intended acquisitions and general economic and industry conditions. Although Partners REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.

Partners REIT
Investor Relations
1 (844) 474-9620 ext. 401

Partners REIT
Jane Domenico
Chief Executive Officer
(416) 855-3313 ext. 501

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