TORONTO, ONTARIO--(Marketwire - Dec. 19, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Whiterock Real Estate Investment Trust ("Whiterock" or the "REIT") (TSX:WRK.UN) announced today that, in connection with its recently completed public offering of trust units of the REIT (the "Units") and concurrent public offering of convertible unsecured subordinated debentures, Series H (the "Debentures"), for aggregate gross proceeds to Whiterock of approximately $65 million (collectively, the "Offering"), the underwriters have exercised their over-allotment option to purchase an additional 234,000 Units at a price of $12.85 per unit and an additional $6,650,000 principal amount of Debentures, for additional aggregate gross proceeds to Whiterock of approximately $9.7 million. The aggregate gross proceeds to Whiterock from the Offering and the completed over-allotment option exercise totalled approximately $74.7 million.

The Offering was completed on a bought deal basis by a syndicate of underwriters led by TD Securities Inc. and including CIBC World Markets Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc., Dundee Securities Ltd., Raymond James Ltd., Brookfield Financial Corp., Desjardins Securities Inc., Macquarie Capital Markets Canada Ltd., and Laurentian Bank Securities Inc.

Whiterock intends to use the net additional proceeds from this over-allotment option to fund potential future property acquisitions and for general trust purposes.

About Whiterock REIT

Whiterock REIT is a growth-oriented diversified commercial REIT with a wholly-owned and co-owned aggregate real estate portfolio that, subsequent to the recently announced Airway Centre acquisition and Edmonton portfolio acquisition, will total approximately 10.8 million square feet of gross leasable area across 88 properties, geographically diversified across 8 Canadian provinces and 2 U.S. states.

Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities legislation, including, among others, statements relating to Whiterock's intended use of the net proceeds of the underwriters' over-allotment option. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" or "continue", the negative forms thereof and similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. These statements are not guarantees of future events or performance and, by their nature, are based on Whiterock's estimates and assumptions, which are subject to known and unknown risks, uncertainties and other factors that may cause the actual events, results or prospects to be materially different from those expressed or implied herein. Readers are cautioned that a number of risks, uncertainties and other factors, including, but not limited to, the risk that the transactions described herein may not be completed in a timely way or at all, and the risks discussed in Whiterock's various securities filings, including the section entitled "Risk Factors" in Whiterock's Annual Information Form (available at [ www.sedar.com ]), that could cause actual events, results or prospects to differ materially from those stated or implied. These risks, uncertainties and other factors should be considered carefully, and a reader should not place undue reliance on forward-looking statements, as there can be no assurance that actual events, results or prospects will be consistent with such statements. Except as required by law, Whiterock specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

Contributing Sources

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