Partners Announces Results for the Third Quarter of 2016
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/02/16 -- Partners Real Estate Investment Trust (the "REIT" or "Partners") (TSX: PAR.UN) today announced its results for the three month period ended September 30, 2016 (the "third quarter").
THIRD QUARTER 2016 HIGHLIGHTS
"Partners'' results for the third quarter of 2016 reflect the REIT''s focus on our existing portfolio, including the decision earlier this year to internalize the management of our properties outside of Quebec," stated Jane Domenico, the REIT''s CEO. "The initial benefits of this decision are evident in today''s results, which reflect improvements in both our operational costs and portfolio occupancy, including the addition of three new tenants at our Cornwall Square property in Ontario. We look forward to creating similar opportunities across our portfolio. The Canadian retail real estate landscape remains challenging. However, today''s results give us confidence that the operational changes we have made to date have laid the foundation for Partners'' long-term success."
Further Information
A more detailed analysis of the REIT''s financial results for the third quarter is included in the REIT''s Management Discussion and Analysis and Condensed Consolidated Financial Statements, which have been filed on SEDAR and can be viewed at or on the REITs'' website at .
Conference Call
Partners will host a conference call at 8:30 AM Eastern on November 3, 2016, at which time the REIT''s management will both review these financial results and discuss the REIT''s strategic outlook.
Conference Dial-In Details
Toll Free (North America): 866-225-0198
Local: 416-340-2218
Instant Replay Details (Available until November 10, 2016)
Toll Free (North America): 800-408-3053
Passcode: 5515563
A recording of the conference call will also be available via Partners'' website.
About Partners REIT
Partners REIT is a growth-oriented real estate investment trust focused on the expansion and management of a portfolio of 36 retail and mixed-use community and neighbourhood shopping centres. These properties are located in both primary and secondary markets across British Columbia, Alberta, Manitoba, Ontario, and Quebec, and comprise a total of approximately 2.5 million square feet of leasable space.
Disclaimer
Certain statements included in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "will" and similar expressions to the extent they relate to Partners REIT. The forward- looking statements are not historical facts but reflect Partners REIT''s current expectations regarding future results or events. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including access to capital, regulatory approvals, intended acquisitions and general economic and industry conditions. Although Partners REIT believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein.
Contacts:
Partners REIT
Investor Relations
1 (844) 474-9620 ext. 401
Partners REIT
Jane Domenico
Chief Executive Officer
(416) 855-3313 ext. 501
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Datum: 02.11.2016 - 17:21 Uhr
Sprache: Deutsch
News-ID 1467615
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