KEYreit closes purchase of $16.07 million property portfolio from Dundee REIT

KEYreit closes purchase of $16.07 million property portfolio from Dundee REIT 
TORONTO, Oct. 4, 2012 /CNW/ - KEYreit (TSX: KRE.UN) ("KEYreit") today 
announced that it has closed the previously announced acquisition of three 
retail properties from companies affiliated with Dundee Real Estate Investment 
Trust ("Dundee REIT") for a purchase price of $16.07 million (excluding 
transaction costs). 
The acquisition is comprised of two properties located in Charlottetown, 
Prince Edward Island and one property in Halifax, Nova Scotia, totalling 
101,473 square feet of gross leasable area ("GLA"). The property portfolio is 
100% leased with an overall average lease term of approximately four years. 
The total purchase price was satisfied through the assumption of existing 
mortgage debt of approximately $7.0 million bearing a weighted average 
interest rate of 5.43% and net proceeds received from KEYreit's equity 
offering completed in August 2012. 
"This acquisition fits perfectly with KEYreit's investment strategy: "small 
box" retail, located in solid markets, with over 84% of GLA leased to national 
or major retail tenants," said Kevin Salsberg, Chief Operating Officer of the 
REIT. "With tenants such as Bed Bath & Beyond, Staples and Lawton's Drugs, we 
continue to strengthen and diversify KEYreit's tenant base." 
Including this acquisition, KEYreit now owns a portfolio of 232 retail 
properties and more than 1.2 million square feet of retail space in nine 
provinces across Canada. 
About KEYreit 
KEYreit (TSX: KRE.UN) (formerly Scott's Real Estate Investment Trust) is 
Canada's premier small-box retail property owner with 232 properties in nine 
provinces across Canada. KEYreit's properties are well located and 
geographically diverse across Canada with the majority of all properties 
containing long-term quadruple net leases. 
To find out more about KEYreit (TSX: KRE.UN), visit our website 
atwww.keyreit.com. 
For investor information, please contact: Teresa Neto Chief Financial Officer 
416-361-9953 teresa.neto@keyreit.com 
For media information, please contact: Trevor Boudreau 604-564-8209 
trevor.boudreau@keyreit.com 
SOURCE: KEYreit 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/October2012/04/c4528.html 
CO: KEYreit
ST: Ontario
NI: REL REL  
-0- Oct/04/2012 21:36 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.