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CORRECTION: Fronsac REIT Reports a Strong Increase in FFO per Unit for the Period Ended June 30th, 2014

MONTREAL, QUEBEC -- (Marketwired) -- 08/14/14 --

This document corrects and replaces the press release that was sent today at 2:11 PM EDT.

Fronsac Real Estate Investment Trust ("Fronsac REIT" or "Fronsac") (TSX VENTURE:GAZ.UN) today released its consolidated financial statements for the quarter ended June 30th, 2014.

For the three month ended June 30th of 2014, Fronsac reported funds from operations ("FFO") of $195,170, an increase of 85.44% over the comparable three month period of 2013 ($105,245 in Q2-2013). For the quarter ended June 30th, 2014, FFO per unit was 0.57 cents, compared to 0.32 cents per unit for the the comparable period of 2013, an increase of 78.13%.

For the first six month of 2014, Fronsac reports funds from operations ("FFO") of $412,485, an increase of 76.13% over the comparable six month period of 2013 ($234,191 in Q2-2013). As at June 30th, 2014, FFO per unit was 1.2 cents, compared to 0.72 cents per unit for the the comparable period of 2013, an increase of 66.67%.

Michel Lassonde President and CEO said: "Our second quarter results are strong and show a sustained growth in our FFO and our cash flow. We are very pleased that our growth continues to be accretive on a per unit basis."

The AFFO/FFO summary and the highlights for the quarter ending on June 30th are presented in the tables below :


OPERATIONAL AND FINANCIAL HIGHLIGHTS                                        
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For the periods ended          June 30,    June 30,    June 30,    June 30, 
                                   2014        2013        2014        2013 
                             (3 months)  (3 months)  (6 months)  (6 months) 
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OPERATIONAL DATA                                                            
Number of properties                 10           6          10           6 
Occupancy                           100%        100%        100%        100%
Value of properties                                                         
 (including joint venture)   20,128,310  18,464,042  20,128,310  18,464,042 
                                                                            
FINANCIAL PERFORMANCE                                                       
Property rental revenue         372,517     253,972     749,672     460,480 
Funds from operations (FFO)     195,170     105,245     412,485     234,191 
Adjusted funds from                                                         
 operations (AFFO)              195,170     105,245     412,485     234,191 
EBITDA                          303,291     201,020     613,329     377,107 
Distributions                   127,431     220,902     254,863     220,902 
                                                                            
PER UNIT FINANCIAL                                                          
 PERFORMANCE                                                                
Weighted average units                                                      
 outstanding                 34,440,964  32,645,094  34,435,439  32,630,669 
FFO                              0.0057      0.0032      0.0120      0.0072 
AFFO                             0.0057      0.0032      0.0120      0.0072 
Variation                         78.13%        n/a       66.67%        n/a 
Distributions per unit           0.0037    0.003375      0.0074     0.00675 
AFFO payout ratio                 64.91%     105.47%      61.67%      93.75%
                                                                            
FINANCING                                                                   
Leverage                          50.04%      42.06%      50.04%      42.06%
Interest coverage ratio             2.8         2.4         2.7         2.9 
Debt service coverage ratio         1.9         1.8         1.9         2.1 
                                                                            
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About Fronsac - Fronsac Real Estate Investment Trust is an open-ended trust that acquires and owns high quality commercial real estate properties, rented to strong tenants under long term, management free and net leases.

Forward-Looking Statements - This press release contains forward-looking statements and information as defined by applicable securities laws, including statements relating to Fronsac and expectations of the management regarding a proposed transaction and the expected benefits thereof. There is no assurance that the proposed transaction will be carried out and that the anticipated benefits will materialize. The proposed transaction is subject to approval and consent of stakeholders and there is no certainty that these will be achieved. Fronsac warns the reader that actual events may differ materially from current expectations due to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such statements. Among these include the risks related to economic conditions, the risks associated with the local real estate market, the dependence to the financial condition of tenants, the uncertainties related to real estate activities, the changes in interest rates, the availability of financing in the form of debt or equity, the effects related to the adoption of new standards, as well as other risks and factors described from time to time in the documents filed by Fronsac with securities regulators, including the management report. Fronsac does not update or modify its forward-looking statements even if future events occur or for any other reason, unless required by law or any regulatory authority.

Neither the TSX Venture Exchange Inc., nor its Regulatory Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accept any responsibility for the adequacy or accuracy of this release.

The June 30th, 2014 financial statements of Fronsac REIT may be viewed on SEDAR at www.sedar.com

Contacts:
Michel Lassonde
President
(450) 536-5328

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