TORONTO, Dec. 27, 2012 /CNW/ - KEYreit (TSX: KRE.UN) today provided an
update on its previously disclosed claim for a portion of the proceeds
of sales of certain locations formerly tenanted by Priszm Income Fund
("Priszm"). The Ontario Superior Court has rendered a decision that
the claims of Priszm's secured creditor take priority to the lease
compensation claims advanced by KEYreit and therefore KEYreit is not
entitled to any sales proceeds generated by the sales of Priszm's
restaurant operations. KEYreit is reviewing the decision and is
considering all options available to it, including a possible appeal.
KEYreit (TSX: KRE.UN) (formerly Scott's Real Estate Investment Trust) is
Canada's premier small-box retail property owner with 227 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.
For further information:
For investor information, please contact:
Chief Financial Officer
For media information, please contact: