OneREIT Announces Closing of Transaction to Sell Mountainview Mall and Kenora Shoppers Mall

TORONTO, ONTARIO--(Marketwired - Aug. 26, 2015) -

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OneREIT ("REIT") (TSX:ONR.UN) today announced that it has completed the sale of Mountainview Mall in Midland, Ontario and Kenora Shoppers Mall in Kenora, Ontario for an aggregate price of $16.1 million.

"This transaction is in line with the REIT's strategic plan which includes the disposition of non-core assets and repositioning of our portfolio," said Richard Michaeloff, President and CEO.

About OneREIT

OneREIT is an unincorporated, open-end real estate investment trust which focuses on owning and acquiring retail properties across Canada with the goal of enhancing long-term Unitholder value.

This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward -looking statements are market and general economic conditions and the risk factors detailed from time to time in the REIT's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com. Readers are cautioned not to rely on forward-looking statements. Except as required under continuous disclosure obligations, the REIT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.