TORONTO, ONTARIO--(Marketwired - Dec 12, 2014) - Moray Tawse announced that he has indirectly acquired, through entities controlled by him, 418,600 trust units ("Units") of Partners Real Estate Investment Trust ("Partners REIT"), through the facilities of the Toronto Stock Exchange between October 22, 2014 and December 10, 2014, at an average price of approximately $4.12 per Unit. The Units acquired by Mr. Tawse represent approximately 1.6% of the issued and outstanding Units of Partners REIT. Following this acquisition of Units, Mr. Tawse now owns 3,136,400 Units, representing approximately 12% of the issued and outstanding Units of Partners REIT.
The acquisition of Units by Mr. Tawse is for investment purposes. Depending on market conditions, circumstances and other relevant factors, Mr. Tawse may, from time to time, increase or decrease his interest in Partners REIT.
This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers which requires a report to be filed under the REIT's profile on SEDAR (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Moray Tawse at 100 University Avenue, Suite 700, North Tower, Toronto, Ontario M5J 1V6 and will be filed under the REIT's profile on SEDAR (www.sedar.com).
Mr. Tawse has over 30 years of experience in the real estate finance industry and sits on the boards of First National Financial Corporation and Regal Lifestyle Communities Inc., and is the Executive Vice President and Secretary of First National Financial Corporation.