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TEMPLE REIT ANNOUNCES EXTENSION OF ASSET MANAGEMENT AGREEMENT

^{Published on 2010-09-08 09:11:23 - Market Wire}
 

WINNIPEG, Sept. 8 /CNW/ - Temple Real Estate Investment Trust ("TREIT") (TSX-V: TR.UN) today announced that it has agreed with Shelter Canadian Properties Limited ("Shelter") to extend the original five-year term of the 2006 Asset Management Agreement to October 1, 2016, with all other terms and conditions remaining the same.  Pursuant to the Asset Management Agreement, Shelter provides asset and trust management services to TREIT for an annual fee equal to 1.5% of gross revenues.

ABOUT TREIT

TREIT is a real estate investment trust, which is listed on the TSX Venture Exchange under the symbols TR.UN (trust units), TR.DB.A, TR.DB.B and TR.DB.S (convertible debentures).  The objective of TREIT is to provide Unitholders with stable cash distributions from investment in a geographically diversified Western Canadian portfolio of hotel properties and related assets.  There are currently 12,825,352 trust units outstanding.  For further information on TREIT, please visit our website at [ www.treit.ca ].

The TSX Venture Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.