Huntingdon REIT Announces Redemption of Outstanding Series C Convertible Debentures Due March 31, 2012

RICHMOND, BC, Nov. 16, 2011 /CNW/ - Huntingdon Real Estate Investment Trust (the "Trust" or "HREIT") (TSX: HNT.UN) announces that it has exercised its right to redeem its 5 Year 7.50% Series C Convertible Redeemable Debentures maturing on March 31, 2012 (the "Debentures") in accordance with the terms of the indenture governing the Debentures. On December 5, 2011 (the "Redemption Date"), the Trust will redeem all of the outstanding Debentures. On redemption, the Trust will pay to the holders of redeemed Debentures the redemption price (the "Redemption Price") equal to the outstanding principal amount of the Debentures to be redeemed, together with all accrued and unpaid interest thereon up to but excluding the Redemption Date, for a total of $1,013.56 per $1,000 principal amount of Debentures.

The aggregate principal amount of Debentures currently outstanding is $38,016,000. The Trust intends to use the proceeds of its previously announced offering of debt units, which closed on November 14, 2011, to pay the Redemption Price of the redeemed Debentures.

HREIT is a real estate investment trust which is listed on the Toronto Stock Exchange under the symbols HNT.UN (Trust Units), HNT.DB.C (Series C Convertible Debentures), HNT.DB (Secured Debentures) and HNT.WT (Warrants).  HREIT owns, directly or indirectly, 76 income producing commercial properties that have a total gross leasable area of 5.5 million square feet, located in five provinces and the Northwest Territories.

Forward‐Looking Information:

Certain statements contained in this press 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. These risks and uncertainties include, but are not limited to, general and local economic and business conditions; the financial condition of our tenants; our ability to refinance maturing debt; leasing risks, including those associated with the ability to lease vacant space; and interest rate fluctuations. Forward‐looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. The forward‐looking statements are subject to risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations including, but not limited to, the risks detailed from time to time in HREIT's filings with Canadian provincial securities regulators, including its most recent annual information form and management's discussion and analysis. HREIT cautions you not to place undue reliance upon any such forward‐looking statements, which speak only as of the date they are made. Forward‐looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and HREIT does not undertake any obligation to update forward‐looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change, except as required by applicable law.

The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.


SOURCE Huntingdon Real Estate Investment Trust

For further information:

Zachary R. George, Trustee, President and Chief Executive Officer
Tel: (604) 249-5119
Fax: (604) 249-5101
Email: zgeorge@hreit.ca

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Huntingdon Real Estate Investment Trust

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