QUEBEC CITY, April 13 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announces that it has acquired an industrial property representing a leasable area of 30,996 square feet, for a consideration of $ 5.6 million. The capitalization rate related to this acquisition is 9%. This property is a very recent construction located in Brossard (Quebec) and is fully occupied by a AAA client under a long-term lease.
Portfolio as at April 13, 2010
Cominar is the largest commercial property owner and manager in the Province of Québec. Cominar owns a real estate portfolio of 242 high quality properties, consisting of 45 office, 51 retail and 146 industrial and mixed-use buildings that cover a total area of over 19.4 million square feet in the Greater Québec City, Montreal and Ottawa areas and in the Maritimes. Cominar's objectives are to deliver growing cash distributions to its unitholders and to maximize unitholder value through proactive management and the growth of its portfolio.
This press release may contain forward-looking statements with respect to Cominar and its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Cominar could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described under "Risk Factors" in the annual information form of Cominar. The cautionary statements qualify all forward-looking statements attributable to Cominar and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and Cominar has no obligation to update such statements.
SOURCE Cominar Real Estate Investment Trust
For further information: For further information: Mr. Michel Dallaire, P.Eng., President and Chief Executive Officer, (418) 681-8151, firstname.lastname@example.org; Mr. Michel Berthelot, CA, Executive Vice-President and Chief Financial Officer, (418) 681-8151, email@example.com