PROREIT ANNOUNCES MAY 2023 DISTRIBUTION

MONTREAL, May 23, 2023 /CNW/ - PRO Real Estate Investment Trust ("PROREIT" or the "REIT") (TSX: PRV.UN) announced today that a cash distribution of $0.0375 per trust unit of the REIT for the month of May 2023 will be payable on June 15, 2023 to unitholders of record as at May 31, 2023.

PROREIT (TSX: PRV.UN) is an unincorporated open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. Founded in 2013, PROREIT owns a portfolio of high-quality commercial real estate properties in Canada, with a strong industrial focus in robust secondary markets.

For more information on PROREIT, please visit the website at: https://proreit.com.

SOURCE PROREIT

For further information:

PRO Real Estate Investment Trust
Gordon G. Lawlor, CPA, President and Chief Executive Officer
514-933-9552

PRO Real Estate Investment Trust
Alison J. Schafer, CPA, Chief Financial Officer and Secretary
514-933-9552