Pure Multi-Family REIT LP (TSXVRUF.UN) terminates the sales process under its strategic review process. Pure Multi-Family REIT LP's Special Committee of independent directors, appointed to run a strategic process including the potential sale of the REIT, has terminated the formal process to explore the potential sale of the REIT. A significant amount of the REIT's time and resources have been committed to the sale process.

From the beginning of the process through the subsequent negotiations with the one bidder, the Special Committee and the Board held over 50 meetings with its financial and/or legal advisors so the REIT could respond in a timely fashion during every step of the process. Given the outcome of the process, the Board and management will re-focus their efforts on existing operations and will consider potential future strategic opportunities that may become available to the REIT to maximize unitholder value. The Bank of Nova Scotia acted as financial advisor to Pure Multi-Family REIT LP in the process.