Huntingdon REIT completes sale of two retail properties



    WINNIPEG, Sept. 9 /CNW/ - Huntingdon Real Estate Investment Trust
("HREIT") (TSX: HNT.UN) announced that it has completed the previously
announced sale of a retail property in Peterborough, Ontario, known as
Willowcreek Centre. The property was sold for $7.25 million and resulted in
net cash to HREIT of approximately $2.5 million, after expenses and closing
adjustments, and the repayment of approximately $4.5 million of first mortgage
debt.
    HREIT also announced that it has completed the previously announced sale
of a retail property in Calgary, Alberta, known as Douglasview Centre. The
property was sold for $3.9 million and resulted in net cash to HREIT of
approximately $1.24 million, after expenses and closing adjustments, and the
assumption by the purchaser of approximately $2.5 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
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
Inc., 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.
    





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

Organization Profile

HUNTINGDON REAL ESTATE INVESTMENT TRUST

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