Mr. Jean-Daniel Cohen reports

INOVALIS REAL ESTATE INVESTMENT TRUST ANNOUNCES THE APPOINTMENT OF STEPHANE AMINE AS CHIEF EXECUTIVE OFFICER

Inovalis Real Estate Investment Trust has appointed Stephane Amine as president and chief executive officer of the REIT. Mr. Amine, the founder of Inovalis SA, the manager of the REIT, has replaced David Giraud, who is stepping down as chief executive officer of the REIT for personal reasons.

"We welcome Stephane to this new role. His deep knowledge of Inovalis and Inovalis REIT coupled with his experience in European real estate investment and syndication of funds provides steady and strong leadership for the REIT," said Jean-Daniel Cohen, chairman of the board.

About Inovalis Real Estate Investment Trust

Inovalis is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 13 assets. Inovalis acquires (indirectly) real estate properties via CanCorPEurope, an authorized alternative investment fund (AIF) by the CSSF in Luxemburg and managed by Inovalis.