TORONTO, March 11, 2019 (GLOBE NEWSWIRE) — Partners Real Estate Investment Trust (the “REIT” or “Partners”) (TSX: PAR.UN) provides an update on the previously announced sale of its 11 Quebec retail properties (the “Quebec Sale Transaction”). The purchaser has waived its due diligence condition, but completion of the Quebec Sale Transaction remains subject to receipt of certain lender approvals and to a number of closing conditions. Following completion of the purchaser’s due diligence, the REIT and the purchaser have agreed to adjust the purchase price for the Quebec properties. As a result, the REIT now expects that, if completed, the Quebec Sale Transaction will result in net cash proceeds to the REIT of approximately $63 million, after payment of related mortgages and transaction expenses.