Partners Announces Results for the Third Quarter of 2015
(firmenpresse) - BARRIE, ONTARIO -- (Marketwired) -- 11/05/15 -- Partners Real Estate Investment Trust (the "REIT," or "Partners") (TSX: PAR.UN) today announced its results for the three month period ended September 30, 2015 (the "third quarter").
THIRD QUARTER 2015 HIGHLIGHTS
"We are satisfied with Partners' third quarter results, which demonstrate the early signs of improvement within our business," stated Jane Domenico, the REIT's CEO. "Our payout ratio and overhead costs continue to stabilize, and the increase in our same property NOI is reflective of our efforts to improve the performance of our existing property portfolio. This improvement remains at the centre of our strategy for 2015. To date, we have focused on enhancing the appeal of our existing properties, placing the best possible tenants within those properties, and delivering those tenants the best possible service. Over the balance of 2015, we will expand the scope of our improvement efforts to include a thorough analysis of our cost structure. We believe this analysis will lead to further growth of our NOI, and a commensurate increase in unitholder value."
Further Information
A more detailed analysis of the REIT's 2015 financial results (including results for the three and nine months ended September 30, 2015) 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 6, 2015, at which time the REIT's management will both review these financial results and discuss their strategic outlook.
Conference Dial-In Details
Toll Free (North America): 866-223-7781
Local: 416-340-2216
Instant Replay Details (Available until November 13, 2015)
Toll Free (North America): 800-408-3053
Passcode: 7300542
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 Real Estate Investment Trust
Investor Relations
(705) 725-6020 ext. 401
Renmark Financial Communications Inc.
Barry Mire
Renmark Financial Communications Inc.
Robert Thaemlitz
(514) 939-3989 or (416) 644-2020
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Datum: 05.11.2015 - 22:51 Uhr
Sprache: Deutsch
News-ID 432429
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BARRIE, ONTARIO
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Commercial & Investment Banking
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