An unknown buyer agreed to buy Nine Properties Located in Western Canada from Partners Real Estate Investment Trust (TSX:PAR.UN) on September 19, 2018. The transaction is subject to consummation of due diligence and other closing conditions. The buyer completed the due diligence for this transaction. The transaction is expected to close on October 22, 2018. The Partners Real Estate Investment Trust Board of Trustees has considered various alternatives for the cash proceeds and has concluded that a special cash distribution to all of the unit holders of a portion of the net cash proceeds is most appropriate and in the best interests of all unit holders. The Board will meet after the closing of the sale of the 9 Western Canada properties and decide on the amount of the special cash distribution based upon, among other things, the ongoing cash requirements of the REIT. BMO Capital Markets Real Estate Inc. acted as real estate broker to Partners REIT. An unknown buyer completed the acquisition of Nine Properties Located in Western Canada from Partners Real Estate Investment Trust (TSX:PAR.UN) for $94.7 million on October 24, 2018. The consideration was paid in cash. A portion of the proceeds from the disposition were used to repay eight mortgages totaling $56.6 million .