Partners Real Estate Investment Trust has extended and amended its existing revolving credit facility (the "revolver") which is provided by a consortium of Canadian chartered banks consisting of Royal Bank of Canada, Bank of Nova Scotia and Laurentian Bank of Canada. The revolver has a formula-based maximum not to exceed $40 million, bearing interest at the bank's prime rate plus 1.0% per annum or the Banker's Acceptance stamping fee plus 2.25% per annum, along with a .45% fee on the undrawn portion of the maximum facility committed. The amended revolver is currently secured by five of the REIT's properties and can be expanded up to an additional $20 million to a $60 million maximum with the securitization of additional unencumbered properties. The revolver can be utilized for general operating purposes, including the acquisition of additional assets.

The amended revolver also now includes a $5 million carve out tied to the Partners REIT's bank account to efficiently managed daily cash inflows and outflows. The revolver will mature in March of 2015 and may be extended for one additional year and each year thereafter, subject to lender approval.

Partners REIT is a growth-oriented real estate investment trust, which currently owns (directly or indirectly) 39 retail properties located in Ontario, Quebec, Manitoba, Alberta and British Columbia aggregating approximately 2.7 million square feet of leasable space. Partners REIT focuses on expanding and managing a portfolio of retail and mixed-use community and neighbourhood shopping centres located in both primary and secondary markets across Canada.