Melcor REIT Completes $20.235 Million Public Offering of Trust Units

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Melcor Real Estate Investment Trust (TSX:MR.UN) (the "REIT") announced today the
successful issue and sale (the "Offering") of 1,900,000 trust units at a price
of $10.65 per Unit (the "Offering Price"). The Offering raised gross proceeds of
$20,235,000 and was underwritten by a syndicate of underwriters (the
"Underwriters") co-led by RBC Capital Markets and CIBC, and included Scotia
Capital Inc., TD Securities Inc., National Bank Financial Inc., Desjardins
Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Laurentian Bank
Securities Inc. and Raymond James Ltd. RBC Capital Markets and CIBC were the
bookrunners on the transaction. 


The REIT has granted the Underwriters an over-allotment option, exercisable for
a period of 30 days following the closing, to purchase up to an additional
285,000 trust units at the Offering Price which, if exercised in full, will
increase the total gross proceeds of the offering to the REIT to $23,270,250.  


As previously announced, the net proceeds of the Offering (after deducting the
underwriting fee and estimated offering expenses) are intended to be used by the
REIT to partially fund the purchase price of two multi-tenant retail properties
(together, the "Acquisitions") representing approximately 54,126 square feet of
gross leasable area ("GLA"). The closing of the Acquisitions is expected to be
completed on or about May 9, 2014. 


The Acquisitions are subject to certain conditions and there can be no assurance
that either of the Acquisitions will be completed on their terms or at all. The
REIT continues to actively pursue acquisition and investment opportunities.


About Melcor REIT 

Melcor REIT is an unincorporated, open-ended real estate investment trust.
Melcor REIT owns, acquires, manages and leases quality retail, office and
industrial income-generating properties with exposure to high growth Canadian
markets. Its portfolio is currently made up of interests in 30 properties
representing approximately 1.76 million square feet of gross leasable area
located across Alberta and in Regina, Saskatchewan and Kelowna, British
Columbia. For more information, please visit www.melcorREIT.ca.


Forward-Looking Statements 

This press release contains "forward-looking information" as defined under
applicable Canadian securities law ("forward-looking information" or
"forward-looking statements") which reflect management's expectations regarding
objectives, plans, goals, strategies, future growth, results of operations,
performance, business prospects and opportunities of the REIT. Statements other
than statements of historical fact contained in this press release may be
forward-looking information. Some of the specific forward-looking statements in
this press release include, but are not limited to, statements with respect to:
the closing of the Acquisitions and the expected terms and closing dates
thereof; the REIT's intended use of proceeds of the Offering; the REIT's pursuit
of acquisition and investment opportunities; and expectations, projections or
other characterizations of future events or circumstances and the future
economic performance of the REIT. The REIT has based these forward-looking
statements on its current expectations and assumptions about future events,
which may prove to be incorrect. 


When relying on forward looking statements to make decisions, readers are
cautioned not to place undue reliance on these statements, as forward-looking
statements involve significant risks and uncertainties, should not be read as
guarantees of future performance or results and do not take into account the
effect of transactions or other items announced or occurring after the
statements are made. All forward-looking information in this press release
speaks as of the date of this press release. A number of factors could cause
actual results to differ materially from the results discussed in the
forward-looking statements. The REIT does not undertake any obligation to update
any such forward-looking information, whether as a result of new information,
future events or otherwise, except as required by applicable law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Business Contact
Darin Rayburn
Chief Executive Officer
780.423.6931
info@melcorREIT.ca


Investor Relations
Jonathan Chia, CA
Chief Financial Officer
780.423.6931
ir@melcorREIT.ca

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