Mr. Jon Love of KingSett reports

KINGSETT REAL ESTATE GROWTH LP NO. 5 ACQUIRES TRUST UNITS OF INNVEST REIT

In connection with the announcement by InnVest Real Estate Investment Trust that it has closed its previously announced public offering of trust units, on a bought-deal basis, and concurrent private placements of units from certain of its largest unitholders, KingSett Real Estate Growth LP No. 5 acquired 5.52 million units representing approximately 4.8 per cent of the outstanding units, at a price of $5.25 per unit for an aggregate purchase price of $28.98-million. The units were acquired pursuant to a subscription agreement on a private placement basis. After giving effect to the transaction, KS has control and direction over a total of 15,536,366 units, representing approximately 13.4 per cent of the outstanding units. The units were acquired in the ordinary course of business, for investment purposes only.