TORONTO, Jan. 02, 2019 (GLOBE NEWSWIRE) — Partners Real Estate Investment Trust (the “REIT” or “Partners”) (TSX: PAR.UN) announces it has entered into an agreement for the sale of its 11 Quebec retail properties (the “Quebec Sale Transaction”). The Quebec Sale Transaction is subject to completion of satisfactory due diligence by the purchaser, satisfaction of any applicable Competition Act (Canada) requirements and certain customary closing conditions. Subject to satisfaction or waiver of all conditions, the Quebec Sale Transaction is expected to close early in the second quarter of 2019. If completed, the Quebec Sale Transaction is currently expected to result in net cash proceeds to the REIT, after payment of related mortgages and transaction expenses, of approximately $65 million.