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FAM Real Estate Investment Trust Completes $58.8 Million Initial Public Offering

/NOT FOR DISSEMINATION IN THE UNITED STATES./

RICHMOND, BC, Dec. 28, 2012 /CNW/ - Huntingdon Capital Corp. ("Huntingdon") (TSX: HNT, HNT.DB and HNT.WT) announced today that FAM Real Estate Investment Trust (the "REIT"), has completed its initial public offering of units raising gross proceeds of $58.8 million (the "Offering"). A total of 5,880,000 units (the "Offered Units") were sold.  Each Offered Unit consists of one trust unit in the capital of the REIT (a "Trust Unit") and one quarter of one Trust Unit purchase warrant of the REIT (each whole warrant being a "Warrant") at a price of $10.00 per Offered Unit. Each Warrant entitles the holder thereof to acquire one Trust Unit (each a "Warrant Unit") at an exercise price of $10.50 per Warrant Unit at any time following closing of the Offering and prior to 5:00 p.m. on December 28, 2015.  The Trust Units and Warrants commenced trading today on the Toronto Stock Exchange under the symbol "F.UN" and "F.WT", respectively.

The REIT used approximately $48.5 million of the proceeds of the Offering, together with approximately $6.2 million drawn under the REIT's revolving credit facility, to indirectly acquire a portfolio of 27 properties (the "Properties") from Huntingdon. Huntingdon has retained an approximate 30% interest in the REIT (or a 27% interest in the REIT if the over-allotment option granted to the underwriters is exercised in full) through the ownership of Class B limited partnership units of a subsidiary of the REIT, which are economically equivalent to, and exchangeable for, Trust Units, and holds a vendor take-back note issued by a subsidiary of the REIT in an amount of approximately $9.2 million.

Huntingdon will provide strategic, asset management, administrative, property management, leasing, construction management and administrative services necessary to manage the day-to-day operations of the REIT and its assets pursuant to the terms of a management agreement entered into on closing of the Offering.

About Huntingdon

Huntingdon is a real estate operating company listed on the TSX (Common Shares: HNT; Debentures: HNT.DB; Warrants: HNT.WT). Huntingdon owns and manages a portfolio of 38 industrial, office, retail and aviation-related properties throughout Canada that have a total gross leasable area of 2.9 million square feet.  In addition, Huntingdon owns an approximate 30% interest in the REIT and manages, on behalf of the REIT, a portfolio of 27 industrial, office, and retail properties throughout Canada that have a gross leasable area of 1.7 million square feet.

SOURCE Huntingdon Capital Corp.

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