TORONTO, ONTARIO--(Marketwired - July 25, 2017) - On June 30, 2017, Partners Real Estate Investment Trust (the "REIT," or "Partners") (TSX:PAR.UN) announced its intention to partially redeem its outstanding Series II 6.0% Convertible Unsecured Subordinated Debentures due September 30, 2017 (TSX:PAR.DB.A) ("Series II Debentures"). The REIT confirms that on the date of redemption, July 31, 2017, 50% of the principal amount of Series II Debentures outstanding will be redeemed, on a pro rata basis, upon payment of a redemption amount of $1,020.054795 for each $1,000 principal amount of Series II Debentures, being equal to the aggregate of $1,000 and all accrued and unpaid interest hereon to but excluding the redemption date.
About Partners REIT
Partners REIT is a growth-oriented real estate investment trust focused on the expansion and management of a portfolio of 34 retail and mixed-use community and neighbourhood shopping centres. These properties are located in both primary and secondary markets across British Columbia, Alberta, Manitoba, Ontario, and Quebec, and comprise a total of approximately 2.3 million square feet of leasable space.
Certain statements included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "will" and similar expressions to the extent they relate to Partners REIT. The forward-looking statements are not historical facts but reflect Partners REIT's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including access to capital, regulatory approvals, intended acquisitions and general economic and industry conditions. Although Partners REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.
Partners REIT Investor Relations
1 (844) 474-9620 ext. 401
Chief Executive Officer
(416) 855-3313 ext. 401