QUEBEC CITY, Sept. 15, 2020 /CNW Telbec/ - Cominar
Real Estate Investment Trust ("Cominar" or the "REIT") (TSX:
CUF.UN) announced today that its board of trustees (the
"Board") has initiated a formal strategic review process to
identify, review and evaluate a broad range of potential strategic
alternatives available to it with a view to continuing to enhance
unitholder value.
The strategic review process will be overseen by a special
committee of independent trustees of the Board, comprised of
Luc Bachand, Paul Campbell, Mitchell
Cohen, Zachary George and
Karen Laflamme. Cominar has also
retained National Bank Financial and BMO Capital Markets to act as
its financial advisors with respect to the process.
The REIT has not established a definitive timeline to complete
the strategic review process and no decisions have been reached at
this time. There can be no assurance that this strategic review
process will result in any transaction or, if a transaction is
undertaken, as to the terms or timing of such a transaction. The
REIT does not currently intend to disclose further developments
with respect to this process, unless and until it is determined
that disclosure is necessary or appropriate.
PROFILE AS AT SEPTEMBER 15,
2020
Cominar is one of the largest diversified real estate investment
trusts in Canada and the largest
commercial property owner in the Province of Quebec. Our portfolio consists of 315
high-quality office, retail and industrial properties, totalling
35.9 million square feet located in the Montreal, Quebec
City and Ottawa areas.
Cominar's primary objective is to maximize total return to
unitholders by way of tax-efficient distributions and maximizing
unit value through the proactive management of our portfolio.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements with
respect to Cominar and its operations, strategy, financial
performance and financial condition, including as regards its
strategic review process. These statements generally can be
identified by the use of forward-looking words such as "may",
"will", "expect", "estimate", "anticipate", "intend", "believe" or
"continue" or the negative thereof or similar variations. The
actual results and performance of Cominar discussed herein could
differ materially from those expressed or implied by such
statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future expectations.
Some important factors that could cause actual results to differ
materially from expectations include, among other things, general
economic and market factors, competition, changes in government
regulation and the factors described under "Risk Factors" in the
Annual Information Form of Cominar. The cautionary statements
qualify all forward-looking statements attributable to Cominar and
persons acting on its behalf. Unless otherwise stated, all
forward-looking statements speak only as of the date of this press
release.
SOURCE COMINAR REAL ESTATE INVESTMENT TRUST