Huntingdon REIT completes sale of Manitoba industrial property

WINNIPEG, Oct. 1 /CNW/ - Huntingdon Real Estate Investment Trust ("HREIT") (TSX: HNT.UN) announced that it has completed the previously announced sale of an industrial property in Winnipeg, Manitoba, known as Marion Street Business Park for $3.875 million. HREIT provided second mortgage financing to the purchaser in the amount of $0.8 million, bearing interest at 5% and due on January 1, 2012. Net of the second mortgage, the sale resulted in net cash to HREIT of approximately $1.18 million, after expenses, closing adjustments and the assumption by the purchaser of approximately $1.78 million of first mortgage debt.

HREIT is a real estate investment trust, which is listed on the Toronto Stock Exchange under the symbols HNT.UN (Trust Units) and HNT.DB.C (Series C Convertible Debentures). HREIT owns 71 income producing office, industrial, retail and standalone parking lot properties that have a total gross leaseable owned area of 4.8 million square feet; two land parcels held for development; two properties held for sale; and other development and expansion opportunities within the existing portfolio. The properties are located in Manitoba, Ontario, Saskatchewan, Alberta, British Columbia and Northwest Territories. HREIT also owns CRESI, a third party property management business. For further information on HREIT, please visit our website at www.hreit.ca.

    
    The Toronto Stock Exchange has not reviewed or 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: For further information: Arni Thorsteinson, President & Chief Executive Officer, or Gino Romagnoli, Investor Relations, Tel: (204) 475-9090, Fax: (204) 452-5505, Email: info@hreit.ca

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HUNTINGDON REAL ESTATE INVESTMENT TRUST

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