Boulevard Industrial REIT Announces Issuance of Deferred Units

TORONTO, ONTARIO–(Marketwired – Dec. 31, 2014) –

NOT FOR RELEASE OR DISSEMINATION INTO THE UNITED STATES

Boulevard Industrial REIT (“Boulevard” or “the REIT”) (TSX VENTURE:BVD.UN) today announced it has granted 248,160 deferred units to its independent trustees pursuant to the REIT’s long term incentive plan. The independent trustees’ elected to receive their trustee fees payable for 2014 in deferred units. The number of deferred units granted was based on a price of $0.136 per unit, which is equal to the 10 day weighted average closing price of units on the TSX Venture Exchange.

About Boulevard Industrial REIT

Boulevard Industrial REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT was established to grow and manage a portfolio of light industrial properties in primary and secondary markets in Canada. Its objectives are to generate stable cash distributions, expand the asset base of the REIT and increase distributable cash flow and enhance the value of the REIT’s assets to maximize long-term unit value.

The TSXV has in no way approved or disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.