Aug 22 (Reuters) - Cominar Reit CUF_u.TO
* Cominar REIT - has decided to sell its properties located in regions outside its core markets which have an estimated fair value exceeding $1.2 billion
* Cominar - board of trustees of co has authorized a normal course issuer bid to purchase for cancellation a maximum of 9 million outstanding units of REIT
* Cominar REIT - to use majority of sales proceeds to reduce its debt-to-gross book value to below 48 percent