KEYreit announces new $15 million credit facility

TORONTO, March 11, 2013 /CNW/ - KEYreit (TSX: KRE.UN) ("KEYreit" or the "REIT") announced today that it has entered into a commitment letter for a $15,000,000 revolving credit facility (the "Facility") with a Canadian Chartered Bank. The Facility will be secured by 23 of the REIT's properties and is renewable annually at the lender's discretion. The Facility is expected to close early in the second quarter of 2013 and is subject to customary closing conditions and documentation requirements for facilities of this type. The Facility will provide the REIT with attractive financing and greater financial flexibility to execute on its business plan and growth strategy going forward.

"Securing the operating line was a significant objective for KEYreit to execute its planned aggressive growth in 2013 and into the future," said Teresa Neto, Chief Financial Officer of KEYreit. "The recent de-levering of our balance sheet has allowed the REIT to secure such cost effective and flexible financing."

About KEYreit
KEYreit (TSX: KRE.UN) is Canada's premier small-box retail property owner with 226 properties in nine provinces across Canada. KEYreit's properties are well located and geographically diverse across Canada with the majority of all properties containing long-term quadruple net leases.

To find out more about KEYreit (TSX: KRE.UN), visit our website at www.keyreit.com


SOURCE: KEYreit

For further information:

For investor information, please contact:
Teresa Neto
Chief Financial Officer
416-361-9953
teresa.neto@keyreit.com

KEYreit unitholders, please contact:
Kingsdale Shareholder Services Inc.
1-888-518-1562 toll-free in North America
1-416-867-2272 outside of North America (collect calls accepted)
contactus@kingsdaleshareholder.com

Media, please contact: 
Longview Communications Inc.
Alan Bayless 604-694-6035, abayless@longviewcomms.ca
Olena Lobach 416-649-8009, olobach@longviewcomms.ca

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