Cominar Further Expands its Montreal Real Estate Portfolio

Cominar Real Estate Investment Trust (the REIT) has completed the acquisition of a Montreal office building covering a leasable area of 136,000 square feet. The transaction amounts to $12.2 million and the capitalization rate related to this acquisition is 8.4%. It is to be noted that this property is 97% leased.

It is a quality building located in the Côte-des-Neiges-Notre-Dame-de-Grâce district, where the REIT already owns several other properties and will therefore benefit from synergies. This acquisition brings to 1.3 million square feet the leasable area of the income-producing properties acquired by Cominar in 2010 for a total consideration of $131.6 million and an 8.9 % weighted average capitalization rate.

PROFILE as at December 21, 2010 Cominar is the largest commercial property owner in the Province of Québec. The REIT owns a real estate portfolio of 255 high-quality properties, consisting of 48 office, 51 retail and 156 industrial and mixed-use buildings that cover a total area of over 20 million square feet in the Greater Québec City, Montréal and Ottawa areas as well as in the Atlantic Provinces. Cominar's objectives are to deliver growing cash distributions to its unitholders and to maximize unitholder value through proactive management and the growth of its portfolio.

on December 21, 2010