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CT Real Estate Investment Trust Announces the Exercise in Full of the $39.5 Million Over-Allotment Option Associated with its Recently Completed Initial Public Offering

November 01, 2013


TORONTO, Nov. 1, 2013 /CNW/ - CT Real Estate Investment Trust ("CT REIT") (TSX: CRT.UN) announced today that pursuant to the underwriting agreement dated October 10, 2013 among CT REIT, Canadian Tire Corporation, Limited ("Canadian Tire") and a syndicate of investment banks with RBC Capital Markets and CIBC acting as joint bookrunners, the underwriters have exercised in full their option to purchase 3,952,500 additional trust units of CT REIT at a price of $10.00 per trust unit for aggregate consideration of $39,525,000. The closing of the over-allotment option is expected to occur on November 4, 2013.

The closing of the over-allotment option will increase the total gross proceeds of the initial public offering to approximately $303 million. The net proceeds of the over-allotment option will be used by CT REIT for future property acquisitions, investments in properties and for general trust purposes.

Upon closing of the over-allotment option, Canadian Tire will hold an approximate 83.1% effective interest in CT REIT on a fully diluted basis through ownership of 59,711,094 trust units and all of the issued and outstanding Class B limited partnership units of CT REIT Limited Partnership (the "Partnership"), which are economically equivalent to and exchangeable for trust units. In addition, Canadian Tire will continue to hold all of the issued and outstanding Class C limited partnership units of the Partnership.

The Units have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, ''U.S. persons'' (as defined in Regulation S under the United States Securities Act of 1933, as amended) except pursuant to certain exemptions. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units or the Debentures in the United States or to, or for the account or benefit of, U.S. persons.

About CT Real Estate Investment Trust

CT Real Estate Investment Trust (TSX:CRT.UN) is an unincorporated, closed end real estate investment trust formed to own income producing commercial properties primarily located in Canada. Its initial portfolio is comprised of 256 properties totaling approximately 19 million square feet of GLA, consisting of 255 retail properties located across Canada and one distribution centre. Canadian Tire is CT REIT's most significant tenant.

Forward-Looking Statements

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects CT REIT's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond CT REIT's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the final prospectus of CT REIT dated October 10, 2013. CT REIT does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.


For further information:

Media: Amy Cole, 416-544-7655,
Investors: Andrea Orzech, 416-480-3195,

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