Mr. Daniel Lewis reports

INNVEST REAL ESTATE INVESTMENT TRUST ANNOUNCES APPOINTMENT OF ACTING CHIEF EXECUTIVE OFFICER

InnVest Real Estate Investment Trust is appointing Edward Pitoniak as acting president and chief executive officer (CEO), effective today. Mr. Pitoniak has served as managing director, directly overseeing InnVest's business, since April, 2014. Mr. Pitoniak will remain a member of the board of trustees.

Mr. Pitoniak has extensive hospitality real estate experience, having served as president, CEO and board trustee of Canadian Hotel Income Properties REIT (CHIP REIT) from 2004 through to its 2007 sale to British Columbia Investment Management Corp. During Mr. Pitoniak's tenure, CHIP REIT was recognized as a leading hotel owner listed on the Toronto Stock Exchange.

The board is continuing its search for a permanent full-time CEO and expects a successful resolution to the process in the near term.

Mr. Pitoniak succeeds Anthony Messina, who has served as president and CEO per a two-year agreement that concluded on Nov. 30, 2014.

"On behalf of the board," said Daniel Lewis, lead independent director, "I would like to take this opportunity to thank Tony for his valuable contributions to InnVest over these last two years of service as CEO. He led the authorship and execution of a portfolio strategic plan that has established a solid foundation for InnVest's future."

"The last two years have been an active time for InnVest," commented Mr. Messina. "I am proud of the achievements we have been able to make over this period and look forward to continuing my working relationship with InnVest in my ongoing role with Westmont Hospitality Group."

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