Temple Real Estate Investment Trust Announces Closing of Previously Announced Convertible Debenture Offering

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WINNIPEG, Aug. 8, 2012 /CNW/ - Temple Real Estate Investment Trust ("TREIT" or the "REIT") announced today that it has closed its previously announced public offering (the "Offering") of  5 Year 7.25% Series E Convertible Redeemable Unsecured Subordinated Debentures due September 30, 2017 (the "Debentures").  Pursuant to the Offering, TREIT sold 46,000 Debentures for gross proceeds to the REIT of $46,000,000, on a bought deal basis, to a syndicate of underwriters led by National Bank Financial Inc. and including Laurentian Bank Securities Inc., Raymond James Ltd., Dundee Securities Ltd., Mackie Research Capital Corporation, Desjardins Securities Inc., and Macquarie Capital Markets Canada Ltd. (collectively, the "Underwriters").  The amount of the Offering included $6,000,000 of Debentures issued pursuant to an over-allotment option that was granted to the Underwriters and exercised at closing of the Offering.

TREIT will use the net proceeds from the Offering to fund additional acquisitions of income-producing hotel properties, to repay existing debt, for general trust purposes, and for working capital.

The Debentures are listed for trading on the Toronto Stock Exchange under the trading symbol "TR.DB.E".

About Temple REIT

TREIT is a real estate investment trust, which is listed on the Toronto Stock Exchange under the symbols TR.UN (trust units), TR.DB.B, TR.DB.C, TR.DB.D, TR.DB.E and TR.DB.S (convertible debentures). The objective of TREIT is to provide Unitholders with stable cash distributions from investment in a geographically diversified Canadian portfolio of hotel properties and related assets. For further information on TREIT, please visit our website at www.treit.ca.

This press release contains certain statements that could be considered as forward-looking information. The forward-looking information is subject to certain risks and uncertainties, which could result in actual results differing materially from the forward-looking statements.

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: Temple REIT

Arni Thorsteinson, Chief Executive Officer, or Gino Romagnoli, Investor Relations
Tel: [phone], Fax: [phone], Email: [email protected]