VICTORIA, BRITISH COLUMBIA--(Marketwired - Feb. 11, 2014) - Partners Real Estate Investment Trust (TSX:PAR.UN) (the "REIT") is pleased to announce the appointments of Ron McCowan as interim-Chief Executive Officer and President and Derrick W. West as Chief Financial Officer effective immediately. Both appointments have been made pursuant to the REIT's management agreement which will be terminated on February 15, 2014 in connection with the previously announced proposed internalization of the REIT's management. Mr. McCowan and Mr. West will continue in these capacities on completion of the internalization process and more details regarding the REIT's internalization are expected to be announced on or about February 14, 2014.<br /><br />Mr. McCowan is the owner of McCowan and Associates Ltd. and an entrepreneur who possesses more than 40 years of extensive experience in real estate development, construction, ownership, and management. The REIT's Board of Trustees is currently engaged in a comprehensive executive search for a permanent Chief Executive Officer.<br /><br />Mr. West most recently served as the Chief Financial Officer of an international mining services corporation with operations in Canada, Russia, Mongolia, and Mexico. Mr. West has amassed over 15 years of experience in financial reporting, tax planning and compliance, treasury management, business development, and internal control compliance. Mr. West has additional experience in the commercial real estate sector and previously served as the Vice-President of Accounting and Administration for Plazacorp Retail Properties Limited. Mr. West is a Chartered Accountant and holds a Bachelor of Commerce degree from Mount Allison University.<br /><br />The REIT would like to thank Patrick Miniutti for his contribution and commitment to the REIT and its unitholders during his tenure as Chief Executive Officer. Mr. Miniutti has indicated that he will remain a Trustee of the REIT.