Partners Announces Results for the Second Quarter of 2016
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/03/16 -- Partners Real Estate Investment Trust (the "REIT," or "Partners") (TSX: PAR.UN) today announced its results for the three month period ended June 30, 2016 (the "second quarter").
SECOND QUARTER 2016 HIGHLIGHTS
"Partners' results for the second quarter of 2016 serve as evidence of the measured improvement taking place throughout our business," stated Jane Domenico, the REIT's CEO. "With a secure operational foundation now in place, we anticipate that we will continue to generate gradual improvements moving forward. These improvements will be aided by the internalization of this property management function west of Quebec, which was completed during the second quarter, and the consolidation of our property management services in Quebec, which took place on August 1. Although the Canadian retail real estate landscape remains challenging, I am confident that these steps, our focus on our existing property portfolio, and our superior tenant service will allow us to continue to grow unitholder value."
Further Information
A more detailed analysis of the REIT's financial results for the second 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 August 4, 2016, at which time the REIT's management will both review these financial results and discuss the REIT's strategic outlook.
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
1 (844) 474-9620 ext. 401
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Datum: 04.08.2016 - 00:20 Uhr
Sprache: Deutsch
News-ID 487185
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TORONTO, ONTARIO
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Commercial & Investment Banking
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