Partners Announces Results for the First Quarter of 2016
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/04/16 -- Partners Real Estate Investment Trust (the "REIT," or "Partners") (TSX: PAR.UN) today announced its results for the three month period ended March 31, 2016 (the "first quarter").
FIRST QUARTER 2016 HIGHLIGHTS
"Partners' results for the first quarter of 2016 demonstrates the stabilization our business," stated Jane Domenico, the REIT's CEO. "Despite the challenges inherent in the current Canadian retail landscape, our occupancy remained relatively consistent, which serves to highlight the strength of our property portfolio. During the current quarter, we will look to build upon this strength by completing the internalization of the property management function at our properties throughout Ontario and western Canada. We expect that this process will create a meaningful improvement in our results, and anticipate demonstrating this improvement over the balance of 2016."
RELOCATION OF HEAD OFFICE
The REIT has completed their relocation from Barrie to Toronto. The new corporate head office is located at 36 Toronto Street, suite 1160. The Barrie office will remain a satellite office for the REIT.
Further Information
A more detailed analysis of the REIT's financial results for the first 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 May 5, 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): 866-223-7781
Local: 416-340-2216
Instant Replay Details (Available until May 12, 2016)
Toll Free (North America): 800-408-3053
Passcode: 5816770
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
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Datum: 04.05.2016 - 23:34 Uhr
Sprache: Deutsch
News-ID 468849
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