Cominar announces closing of acquisition of industrial and office properties from Alexis Nihon



    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    U.S./

    QUEBEC CITY, June 5 /CNW Telbec/ - Cominar Real Estate Investment Trust
("Cominar") (TSX: CUF.UN) announced the closing, as of June 1, 2007, of the
acquisition (the "Acquisition") from Alexis Nihon Real Estate Investment Trust
("Alexis Nihon") and its wholly-owned entities of 28 industrial and 19 office
properties, representing approximately 6.1 million square feet of leasable
area, pursuant to the previously announced agreement between Cominar and
Homburg Invest Inc.
    The closing of the Acquisition is subject to normal course property
registrations expected in the next few days. The subscription receipts issued
May 8, 2007 will be exchanged for units once such registrations have taken
place. Cominar will make a further announcement once such registrations have
taken place, the Acquisition has been completed and all conditions have thus
been satisfied for the exchange for units of such subscription receipts.
    Cominar has also unconditionally offered to purchase Alexis Nihon's
interest in seven co-owned industrial properties representing approximately
400,000 square feet of leasable area for a purchase price of approximately
$17.3 million, including the assumption of approximately $3.2 million of debt
relating to those properties, subject to the exercise or waiver by the third
party co-owner of such properties of its rights of first refusal. There can be
no assurances that Cominar will acquire such properties.

    Portfolio as at June 5, 2007
    ----------------------------

    Cominar is one of the largest commercial real estate property owners and
managers in the Province of Québec. Cominar owns a high quality portfolio of
193 properties in the Greater Montréal, Québec City and Gatineau/Ottawa areas,
consisting of 35 office, 32 retail, and 126 industrial and mixed-use
buildings, totaling over 16.5 million square feet. Cominar's objectives are to
deliver to its unitholders growing cash distributions and to maximize
unitholder value through proactive management and the growth of its portfolio.

    Forward-Looking Statements
    --------------------------

    This press release may contain forward-looking statements with respect to
Cominar Real Estate Investment Trust 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 Real Estate
Investment Trust 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 Real Estate
Investment Trust. The cautionary statements qualify all forward-looking
statements attributable to Cominar Real Estate Investment Trust 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 Real Estate
Investment Trust has no obligation to update such statements.
    %SEDAR: 00010204EF




For further information:

For further information: Mr. Michel Dallaire, P.Eng., President and
Chief Executive Officer, Cominar Real Estate Investment Trust, (418) 681-8151;
Media: Laird Greenshields, Morin Public Relations, (514) 289-8688, ext. 221

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Cominar Real Estate Investment Trust

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