TORONTO, ONTARIO--(Marketwire - Jan. 13, 2012) - NorRock Realty Finance Corporation (TSX:RF.PR.A)(TSX:RF.A) ("NorRock" or the "Corporation") announced today the results of voting at its special meeting of shareholders (the "Meeting"), held to consider the acquisition of substantially all of the assets of NorRock by Partners Real Estate Investment Trust ("Partners REIT") (TSX VENTURE:PAR.UN) through a plan of arrangement (the "Transaction").

A total of 863,100 NorRock Preferred shares and 1,952,836 NorRock Class A shares were represented in person or by proxy at the Meeting, representing approximately 58.8% and 66.7%, respectively, of the issued and outstanding preferred shares and Class A shares.

The Transaction was approved by the affirmative vote of the holders of (i) 1,951,668 NorRock Class A shares, representing 99.9% of the votes cast by holders present in person or by proxy at the Meeting, (ii) 985,508 NorRock Class A shares, representing 99.9% of the votes cast by holders present in person or by proxy at the Meeting excluding votes attaching to Class A shares held by certain related parties, (iii) 583,270 NorRock preferred shares, representing 67.6% of the votes cast by holders present in person or by proxy at the Meeting, and (iv) 579,770 NorRock preferred shares, representing 67.5% of the votes cast by holders present in person or by proxy at the Meeting excluding votes attaching to preferred shares held by certain related parties.

The Transaction was previously approved by the unitholders of Partners REIT at a special meeting of unitholders held on December 15, 2011.

Information concerning the Transaction is set out in a joint management information circular (the "Circular") dated November 16, 2011 that was mailed to all shareholders of NorRock. A copy of the Circular is available electronically at [ www.sedar.com ].

Completion of the Transaction is subject to certain conditions precedent, including the issuance of a final order of the Ontario Superior Court of Justice. NorRock's application for the final order will be heard by the Court in Toronto on January 18, 2012. If all of the conditions to completion of the Transaction are met or waived, NorRock expects that the Transaction will be completed on or about February 1, 2012.

NorRock Realty Finance Corporation

The Corporation is a mutual fund corporation incorporated under the laws of the Province of Ontario. The Corporation was created to obtain exposure to the investment performance of an actively managed portfolio of secured loans and investments in the Canadian commercial real estate sector on a tax-efficient basis.

Certain statements included in this news release constitute forward-looking statements including statements identified by the words "plan", "will" and "intend", and similar expressions or the negative thereof. The forward-looking statements are not historical facts but reflect the Corporation'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. Readers are cautioned not to place undue reliance on forward-looking information. The Corporation undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information except as required by law.

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