TORONTO–(BUSINESS WIRE)–$SRU.UN #CapitalMarkets–The Board of Trustees of SmartCentres Real Estate Investment Trust (“SmartCentres”, the “Trust” or the “REIT”) (TSX: SRU.UN) today provided a further update regarding certain existing arrangements referred to in the REIT’s press release dated February 27, 2026.

The parties have agreed to further extend the existing agreements to April 16, 2026 for the reasons previously set out and allow additional time for the agreements to be finalized. We anticipate the good faith negotiations to result in mutually acceptable arrangements.

The Independent Committee of the Board, composed entirely of independent trustees, is overseeing the discussions on behalf of the REIT with Penguin and Mr. Goldhar.

About SmartCentres

SmartCentres is one of Canada’s largest fully integrated REITs, with a best-in-class and growing mixed-use portfolio featuring 198 strategically located properties in communities across the country. SmartCentres has approximately $12.1 billion in assets consisting of income producing value-oriented retail, purpose-built rental, first-class office and self-storage properties. SmartCentres owns 35.6 million square feet of leasable space with 98.6% in place and committed occupancy, on 3,500 acres of owned land across Canada.

For more information, please visit www.smartcentres.com.

Cautionary Statements Regarding Forward-Looking Statements

Certain statements in this Press Release are “forward-looking statements” that reflect management, the Board and the Independent Committee’s expectations regarding the Trust’s future arrangements, growth, operations, performance and business prospects and opportunities. More specifically, certain statements including, but not limited to, statements related to ongoing discussions with Mr. Goldhar and Penguin, the potential outcomes, terms and timing of these discussions or any existing or new arrangements resulting therefrom and the focus of the Board and Independent Committee and statements that contain words such as “could”, “should”, “can”, “anticipate”, “expect”, “ensures”, “believe”, “will”, “may” and similar expressions and statements relating to matters that are not historical facts, constitute “forward-looking statements”.

Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking information may include, but are not limited to: continued performance of the parties in the ordinary course in accordance with the terms of the existing arrangements, as extended; expectations regarding ongoing constructive discussions between the Trust and Mr. Goldhar and Penguin; and the likelihood of a mutually acceptable outcome on or before the agreed April 16, 2026 extension date.

Such forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including that the discussions between the parties could be unsuccessful; that the existing agreements could be terminated in accordance with their terms and that Mr. Goldhar does not remain with the Trust; that the terms of any amended, extended, supplemented or replaced definitive agreements could be on terms and conditions less favourable to the Trust than current arrangements; that the parties may not complete discussions or that definitive agreements may not be reached on or before the agreed extension date, or at all, or that one or more further extensions may be required; and the potential effects and outcomes, including on the Trust’s unit price and trading liquidity, arising from the discussions between the parties. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive. Readers should consult the more complete discussion of the Trust’s business, financial condition and prospects under the heading “Risks and Uncertainties” and elsewhere in SmartCentres’ most recent Management’s Discussion and Analysis, as well as under the heading “Risk Factors” in SmartCentres’ most recent annual information form. Although the forward-looking statements contained in this Press Release are based on what management believes to be reasonable assumptions, SmartCentres cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as at the date of this Press Release and SmartCentres assumes no obligation to update or revise them to reflect new events or circumstances unless otherwise required by applicable securities legislation.

Contacts

For further information, please contact:
Peter Slan

Chief Financial Officer

(905) 326-6400 ext. 7571

pslan@smartcentres.com

Media inquiries (on behalf of the Independent Committee)

Peter Block

FGS Longview

peter.block@fgslongview.com

TORONTO–(BUSINESS WIRE)–RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced a distribution of 9.65 cents per unit for the month of March. The distribution will be payable on April 8, 2026, to unitholders of record as at March 31, 2026.

About RioCan

RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based retail properties in densely populated communities. As at December 31, 2025, our portfolio is comprised of 168 properties with an aggregate net leasable area of approximately 31 million square feet (at RioCan’s interest). To learn more about us, please visit www.riocan.com.

Contacts

RioCan Real Estate Investment Trust

Investor Relations Inquiries

Email: ir@riocan.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, today announced that it has been recognized by Newsweek readers as one of the top climate-controlled storage providers in the U.S. in the publication’s 2026 Readers’ Choice rankings. Among the companies included on the list, SmartStop was the highest-ranked publicly traded self-storage provider, underscoring the strength of its brand, customer experience, and national platform.

The Newsweek Readers’ Choice Awards are based on consumer voting and reflect the opinions of customers who interact with storage providers across the U.S. SmartStop’s placement highlights growing brand awareness and reinforces the company’s reputation for delivering clean, secure, and well-maintained climate-controlled storage options in major markets throughout North America.

“Being recognized by Newsweek readers is especially meaningful because it reflects direct customer sentiment,” said H. Michael Schwartz, SmartStop’s Chairman and CEO. “This recognition affirms our commitment to providing a consistent, high-quality storage experience and positions SmartStop among the most trusted names in climate-controlled storage nationwide.”

The ranking serves as an independent validation of SmartStop’s continued focus on customer satisfaction, facility standards, and operational excellence across its North American portfolio. With a presence in major markets throughout the United States and Canada, the company has invested in modern storage environments designed to help protect customers’ belongings from extreme temperatures and humidity. As the highest-ranked public company on the list, SmartStop stands out for its ability to deliver a consistent experience at scale while continuing to grow its presence in key markets.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary, SmartStop REIT Advisors, LLC, also sponsors other self-storage programs and, through its Managed Platform, offers third-party management services in the U.S. and Canada. As of March 13, 2026, SmartStop has an owned or managed portfolio of over 460 operating properties in 35 states, the District of Columbia, and Canada, comprising over 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 50 operating self-storage properties across four provinces in Canada, which total approximately 43,000 units and 4.3 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

Investor Relations Contact:
David Corak

Senior VP of Corporate Finance and Strategy

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

Media Relations Contact:
Spotlight Marketing Communications

949-427-5172

info@spotlightmc.com

TORONTO–(BUSINESS WIRE)–#ChoiceProperties–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting first quarter 2026 results on Wednesday, April 29, 2026, after-market hours.

Management will host a conference call the next day on Thursday, April 30, 2026 at 9:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial 1 (888) 330-2454 or 1 (240) 789-2714 and enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

Choice Properties’ Annual Meeting of Unitholders will be held on Thursday, April 30, 2026 at 11:00 AM (ET) in a virtual meeting format via live webcast. Unitholders can attend the meeting by joining the live webcast online at https://meetings.lumiconnect.com/400-970-939-471. Refer to “How do I attend and participate in the virtual Meeting?” in the Management Proxy Circular which will be available to be viewed online at www.choicereit.ca or under Choice Properties’ SEDAR+ profile at www.sedarplus.ca as of March 31, 2026, for detailed instructions on how to attend and vote at the meeting. The webcast of the meeting will be archived on our website following the meeting. Please refer to the events & webcasts page at www.choicereit.ca for additional details on the virtual meeting.

About Choice Properties Real Estate Investment Trust

Choice Properties is Canada’s largest Real Estate Investment Trust, guided by a clear purpose: to create places where people thrive. This is how we build enduring value. As a national owner, operator, and developer of high-quality commercial and residential real estate, we go beyond managing assets. We create spaces that strengthen how tenants and communities live, work, and connect. Our strategy is grounded in industry leadership across sustainability, community engagement, and social impact, embedded throughout our business. Our core values of Care, Ownership, Respect and Excellence guide our actions and decisions, shaping how we operate, build, and grow.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedarplus.ca.

Contacts

For more information:


Erin Johnston

Chief Financial Officer

Choice Properties REIT

(647) 294-8724

Erin.Johnston@choicereit.ca

TAMPA, Fla.–(BUSINESS WIRE)–Ram Realty Advisors (“Ram”), a real estate investment management firm specializing in multifamily, grocery-anchored retail, and mixed-use in select high-growth markets throughout the Southeast, today announced the acquisition of Beacon 430, a 327-unit apartment community located in Downtown St. Petersburg, Florida (Tampa MSA). The property was acquired by an affiliate of Ram Realty Partners VII.

The acquisition reflects Ram’s strategy of investing in well-located multifamily assets within infill urban markets where development constraints limit new supply. Developed in 2014, Beacon is a four-story, elevator-served residential community situated on a 4.3-acre site spanning two city blocks in the heart of Downtown St. Pete. The property provides a low-rise residential alternative with extensive outdoor amenities in a submarket where limited site availability and rising land costs increasingly favor high-rise development.

Downtown St. Pete has emerged as one of Florida’s most vibrant urban submarkets, supported by strong population growth, a diversified employment base, and a highly walkable waterfront environment. The property is within walking distance of several of the area’s largest employers, including Johns Hopkins All Children’s Hospital, Orlando Health Bayfront Hospital, and the University of South Florida St. Petersburg campus, as well as the Central Avenue retail and entertainment district and the city’s waterfront cultural attractions.

Ram plans to implement a targeted value-add program focused on operational enhancements, common area and amenity improvements, and select unit interior upgrades designed to further position the property within the market.

“Beacon stood out to us because of its scale, location, and ability to offer a different residential experience than much of the new product in Downtown St. Pete,” said Nate Wilson, Vice President of Multifamily Investments at Ram. “We believe targeted operational improvements and selective upgrades will further strengthen the property’s position within the market.”

“The Tampa Bay area has been a primary market for Ram for more than two decades,” said Casey Cummings, Chief Executive Officer of Ram. “We have been investing in this market since 2000 and continue to see strong long-term fundamentals in Downtown St. Pete. Beacon represents another opportunity to expand our footprint in a market we know well.”

About Ram

Ram Realty Advisors LLC is a real estate investment management firm specializing in multifamily, grocery-anchored retail, and mixed-use in select high-growth markets throughout the Southeast. The firm’s portfolio comprises assets across the investment risk spectrum, including core-plus, value-add, and opportunistic strategies. Founded in 1978, Ram and its predecessor entities have deployed over $5.0 billion of capital on behalf of institutional partners. The firm is headquartered in Palm Beach Gardens, Florida, and has offices in Tampa, Florida; Charlotte and Chapel Hill, North Carolina; and Nashville, Tennessee. www.ramrealestate.com

Contacts

Kaylee McCall Correa

Ram Realty Advisors

kmccall@ramrealestate.com
(954) 232-5573

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the opening of a new Class A self-storage facility in Toronto, Ontario. The property represents SmartStop’s 50th self-storage location in Canada, marking a significant milestone in the company’s continued expansion across the country. With this opening, SmartStop further strengthens its position as the largest self-storage operator in the Greater Toronto Area.

Situated at 1983 Kipling Avenue, the property is a five-story, Class A building encompassing roughly 90,300 net rentable square feet of climate-controlled self storage. Built with customer convenience in mind, the facility includes multiple elevators, spacious interior loading areas, advanced security features, and a contemporary architectural aesthetic. With direct connectivity to Highway 401 along a heavily trafficked corridor, the site benefits from a trade area approaching 600,000 residents, reinforcing robust demand for premium self storage throughout the Greater Toronto Area.

“The opening of our 50th property in Canada represents a significant milestone for SmartStop and reflects the strength and scale of our Canadian platform,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “Canada continues to be a key growth market for us, and this Toronto location exemplifies our focus on delivering institutional-quality facilities in premier urban locations. We are proud to reach this milestone and remain committed to meeting the evolving storage needs of residents and businesses across the country.”

The facility will serve customers throughout Toronto and surrounding communities, including Rexdale, Mississauga, Brampton, Vaughan, Woodbridge, and North York, providing modern storage solutions in one of the Greater Toronto Area’s most dynamic and densely populated corridors.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary, SmartStop REIT Advisors, LLC, also sponsors other self-storage programs and, through its Managed Platform, offers third-party management services in the U.S. and Canada. As of March 11, 2026, SmartStop has an owned or managed portfolio of over 460 operating properties in 35 states, the District of Columbia, and Canada, comprising over 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 50 operating self-storage properties across four provinces in Canada, which total approximately 43,000 units and 4.3 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

Investor Relations Contact:
David Corak

Senior VP of Corporate Finance and Strategy

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

Media Relations Contact:
Spotlight Marketing Communications

949-427-5172

info@spotlightmc.com

• Morningstar DBRS Confirms BBB Credit Ratings and Changes Trend to Positive from Stable
• The closing of this seven-year debenture issuance aligns with the financing plan outlined at Investor Day and supports a well-distributed debt maturity profile

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO–(BUSINESS WIRE)–RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it has completed its previously announced issuance of $200 million principal amount of Series AQ senior unsecured debentures (the “Debentures”). The Debentures were sold at a price of $100 per $100 principal amount, carry a coupon rate of 4.308% per annum, are payable semi-annually in arrears, and mature on March 11, 2033.

The net proceeds of the Debentures will be used by the Trust to repay existing indebtedness at or prior to maturity. The balance of the net proceeds, if any, will be used for general business purposes.

The Debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, Desjardins Capital Markets, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital.

Morningstar DBRS assigned the Debentures a credit rating of BBB with a Positive trend.

The Debentures were issued pursuant to RioCan’s trust indenture dated March 8, 2005, as supplemented. The Debentures rank equally with all other senior unsecured indebtedness of the Trust.

The Debentures have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About RioCan

RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based retail properties in densely populated communities. As at December 31, 2025, our portfolio is comprised of 168 properties with an aggregate net leasable area of approximately 31 million square feet (at RioCan’s interest). To learn more about us, please visit www.riocan.com.

Forward Looking Information

This News Release contains forward-looking information within the meaning of applicable Canadian securities laws. This information reflects RioCan’s objectives, our strategies to achieve those objectives, as well as statements with respect to management’s beliefs, estimates and intentions concerning anticipated future events or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plan”, “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. All forward-looking information in this News Release is qualified by these cautionary statements.

Forward-looking information is not a guarantee of future events or performance and, by its nature, is based on RioCan’s current estimates and assumptions, which are subject to numerous risks and uncertainties, including those described in the “Risks and Uncertainties” section in RioCan’s MD&A for the period ended December 31, 2025 and in our most recent Annual Information Form, which could cause actual events or results to differ materially from the forward-looking information contained in this News Release.

Although the forward-looking information contained in this News Release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with this forward-looking information. The forward-looking statements contained in this News Release are made as of the date hereof, and should not be relied upon as representing RioCan’s views as of any date subsequent to the date of this News Release. Management undertakes no obligation, except as required by applicable law, to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Contacts

Dennis Blasutti

Chief Financial Officer

RioCan REIT

(416) 866-3033

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced it has acquired a 1.75-acre parcel of land in Edmonton, Alberta. SmartStop intends to develop the project into a new Class A self-storage facility in partnership with SmartCentres (TSX: SRU.UN).

The site is located at 8403 127 Ave NW, approximately 3.5 miles north of downtown, and offers strong visibility to southbound traffic along 82 Street NW. The proposed development is expected to deliver a single four-story building with two elevators and approximately 99,650 net rentable square feet of storage space, featuring 100% climate-controlled units.

The surrounding three-mile area has a population of approximately 193,000 and is projected to grow by 8.6% over the next five years, supporting continued demand for high-quality self storage.

Construction is scheduled to begin in the second quarter of 2027, with a planned soft opening in the third quarter of 2028. When complete, the facility will serve the neighborhoods of Balwin, Delton, Elmwood Park, Killarney, Calder, Sherbrooke, and Westwood.

This development will be SmartStop’s sixth location in the Edmonton metropolitan area, further strengthening the company’s presence in Alberta.

“This acquisition is a compelling opportunity to expand our presence in a growing, supply-constrained market,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “Edmonton continues to demonstrate strong fundamentals, and partnering with SmartCentres allows us to deliver a best-in-class facility that meets the needs of the surrounding communities and enhances long-term value for our shareholders.”

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary, SmartStop REIT Advisors, LLC, also sponsors other self-storage programs and, through its Managed Platform, offers third-party management services in the U.S. and Canada. As of March 10, 2026, SmartStop has an owned or managed portfolio of over 460 operating properties in 35 states, the District of Columbia, and Canada, comprising over 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 50 operating self-storage properties across four provinces in Canada, which total approximately 43,000 units and 4.3 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

Investor Relations Contact:
David Corak

Senior VP of Corporate Finance and Strategy

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

Media Relations Contact:
Spotlight Marketing Communications

949-427-5172

info@spotlightmc.com

This marks the 18^th time the business services leader earned this award for its strong reputation and innovation.

CINCINNATI–(BUSINESS WIRE)–Cintas Corporation (Nasdaq: CTAS) has earned a spot on FORTUNE’s 2026 World’s Most Admired Companies list. This recognition underscores the strong reputation Cintas has built amongst peers and celebrates its ongoing success as a leading company.

“We are proud to receive this award once again,” said Todd Schneider, President and CEO of Cintas. “It speaks to our commitment to providing quality products and services for our customers, the power of our culture and the dedication of our employee-partners who make our success possible.”

This is the fifth consecutive year Cintas has been named to this list, and it marks the 18th time FORTUNE has recognized Cintas for this honor.

To determine the best-regarded companies in 51 industries, Korn Ferry asked executives, directors and analysts to rate enterprises in their own industry on nine criteria, from investment value and quality of management and products to social responsibility and ability to attract talent. A company’s score must rank in the top half of its industry survey to be listed.

The findings ranked Cintas first in its industry, diversified outsourcing services, for the following categories:

• Quality of management
• Quality of products/services

The complete listing of FORTUNE’s 2026 World’s Most Admired Companies is available on fortune.com.

About Cintas Corporation

Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index.

Contacts

Cintas Media Contact:
Michelle Goret, Cintas Vice President of Corporate Affairs | media@cintas.com, 513-972-4155

ST. LOUIS–(BUSINESS WIRE)–Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced the acquisition of Soberman Engineering by KJA, a subsidiary of ATIS, a TSCP portfolio company and premier provider of elevator and escalator safety inspections, consulting, and managed services across North America.

Soberman Engineering has built a strong reputation for independent advisory services, with expertise spanning new construction, modernization, inspections, ongoing maintenance support, and general technical assistance. With this addition, KJA further expands its capabilities in the Toronto and new construction market while maintaining its core values of independence, technical excellence, and client-first service. Terms of the transaction were not disclosed.

About KJA

With more than 60 years of experience and headquarters in Toronto, KJA is Canada’s largest and premier provider of vertical transportation consulting and managed services. Serving clients from coast to coast, our team delivers independent, technically rigorous guidance for elevators, escalators, and related systems. We are committed to long-term client outcomes through deep expertise, advanced tools, and a national platform that supports building owners across all of Canada.

About ATIS

ATIS (www.atis.com) is one of North America’s largest providers of vertical transportation inspections, consulting, and managed services. With a team of over 200 licensed QEI professionals and expert consultants, ATIS provides unparalleled service across the US and Canada to more than 15,000 clients, promoting the safety and performance of nearly 100,000 elevators and escalators. Renowned for its commitment to excellence and innovation, ATIS provides safety inspections and expert consulting services for a wide range of projects across all sectors, including new construction, modernization, and asset management, while also offering fully managed elevator solutions that include maintenance management and certificate management.

About Thompson Street Capital Partners

Thompson Street Capital Partners (tscp.com) is a St. Louis-based private equity firm focused on investing in founder-owned middle market businesses in the life sciences and healthcare, software and technology, business and consumer services and products sectors. Founded in 2000, the firm has acquired more than 250 companies and had assets under management of over $4.5 billion as of September 30, 2025. TSCP partners with management teams to increase value by accelerating growth, both organically and via complementary acquisitions.

Contacts

Gregory

Camaryn Sapienza

csapienza@gregoryagency.com
(630) 699-9865

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announced today that its Board of Trustees has declared a distribution of $0.07333 per unit for the month of March 2026, representing $0.88 per unit on an annualized basis. The distribution will be payable on April 15, 2026 to unitholders of record on March 31, 2026.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 15.2 million square feet, valued at approximately $5.2 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

For more information:

TSX: PMZ.UN

www.primarisreit.com

www.sedarplus.ca

 

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations

& Sustainability

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

TORONTO–(BUSINESS WIRE)–Granite Real Estate Investment Trust (TSX: GRT.UN) (“Granite”) announced today the recent acquisition of five income-producing properties in the United States comprising approximately 1.2 million square feet at a combined purchase price of approximately $256.1 million (US$185.7 million). The properties were acquired at an in-going weighted average yield of approximately 4.7% and are expected to stabilize at an approximate 6.0% yield within two years. In addition, Granite has acquired an income-producing property on a 15-acre parcel of land in the United Kingdom for the planned future development of a 0.3 million square foot state-of-the-art e-commerce and logistics warehouse.

On December 19, 2025, Granite completed the disposition of three income-producing properties in the United States, comprising 1.7 million square feet, for total proceeds of $189.5 million (US$137.5 million). The properties were identified as part of Granite’s strategic disposition program and were sold at a weighted average in-going yield of 6.1%. As at September 30, 2025, the sold assets were classified as assets held for sale.

Granite also announced today that during the fourth quarter of 2025, Granite entered into new leases for approximately 769,000 square feet of previously vacant space.

Kevan Gorrie, Granite’s President and CEO, commented that, “The transactions announced today reflect a successful execution and rebalancing of the portfolio, including our reentry into the United Kingdom, which we expect in the near term, to generate accretive income and net asset value growth for our unitholders. In addition, recent leasing momentum and an in-place occupancy rate of 98% further underscores the strength and quality of Granite’s portfolio and our ability to provide the best-in-class locations and functionality that cater to tenants’ current requirements.”

201 NW 22nd Avenue, Fort Lauderdale, Florida

On December 17, 2025, Granite acquired a modern distribution facility, comprising 0.2 million square feet in Fort Lauderdale, Florida for $88.5 million (US$64.1 million). The property was constructed in 2018 and is fully leased to an e-commerce 3PL with 1.0 year of term remaining. Acquired at an in-going yield of 3.4%, the property offers a significant mark-to-market opportunity which is expected to stabilize at approximately 6.0%. This last mile facility is strategically located with immediate access to the I-95 and is only 1.5 miles from downtown Fort Lauderdale and Fort Lauderdale International Airport.

7865-7909 Northcourt Road, Houston, Texas

On December 17, 2025, Granite acquired four distribution facilities, comprising 1.0 million square feet in Houston, Texas for $167.6 million (US$121.5 million). The properties are 98% leased to a diverse tenant mix with a weighted average lease term of 3.3 years and were acquired at an in-going yield of 5.4%. Located just north of Highway 290 and inside Beltway 8, the properties benefit from the Northwest submarket’s historically strong demand, low vacancy and near-term mark-to-market income growth potential.

Brackmills Industrial Estate, Salthouse Road, Northampton, United Kingdom

On December 1, 2025, Granite acquired a distribution facility, comprising 0.2 million square feet in Northampton, United Kingdom for $36.2 million (£19.6 million). The property is fully leased to a global logistics company with a remaining term of 2.0 years and was acquired at an in-going yield of 8.4%. Upon expiry, the 15-acre site is planned to be redeveloped into a 0.3 million square foot modern distribution facility and is expected to achieve a yield on cost in excess of 7.0%. The property is located in close proximity to the M1 motorway and is within one of the United Kingdom’s premier regional distribution areas, known as the Golden Triangle.

The six properties were acquired using a combination of net proceeds from Granite’s recent dispositions, borrowings on Granite’s credit facility and cash on hand. Granite’s current liquidity, following the acquisitions and dispositions is approximately $0.9 billion. Granite expects to reduce the current credit facility balance with future asset dispositions and operating cash flow throughout 2026.

Leasing update

In the fourth quarter of 2025, Granite executed approximately 769,000 square feet of new leases consisting of the following:

A new lease for the full building commenced on December 5, 2025 at Granite’s previously vacant approximate 712,800 square foot development property located in Avon, Indiana for a 188 month term with a leading global material handling company.

A lease expansion of approximately 56,000 square feet of previously vacant space commenced on December 31, 2025 at Granite’s approximate 122,500 square foot property in Lebanon, Tennessee for a 91 month term with a national packaging company.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.

OTHER INFORMATION

Copies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval+ (SEDAR+) which can be accessed at www.sedarplus.ca. For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Senior Director, Legal & Investor Services, at 647-925-7504.

FORWARD LOOKING INFORMATION

This press release may contain statements that, to the extent they are not recitations of historical fact, constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding Granite’s expectations with respect to the mark to market income growth and the expected stabilized yield of the properties, the development of the property in the United Kingdom and the expected development yield of the project, Granite’s ability to reduce its credit facility balance, dispose of assets or generate operating cash flow and Granite’s plans, goals, strategies, intentions, beliefs, estimates, costs, objectives, economic performance, expectations, or foresight or the assumptions underlying any of the foregoing. Words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “seek”, “objective” and similar expressions are used to identify forward-looking information. Forward-looking information should not be read as guarantees of events, performance or results and will not necessarily be accurate indications of whether or the times at or by which such events, performance or results will be achieved. Undue reliance should not be placed on such statements. Forward-looking information are based on information available at the time and/or management’s good faith assumptions and analyses made in light of its perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances, and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Granite’s control, that could cause actual events or results to differ materially from such forward-looking information. Important factors that could cause such differences include, but are not limited to, the mark to market income growth and the expected stabilized yield for the properties., the development of the property in the United Kingdom and the expected development yield of the project, Granite’s ability to reduce its credit facility balance, dispose of assets or generate operating cash flow and the risks set forth in the annual information form of Granite Real Estate Investment Trust dated February 26, 2025 (the “Annual Information Form”) and management’s discussion and analysis of results of operations and financial position for the three months ended September 30, 2025 (the “Q3 MD&A). The “Risk Factors” section of the Annual Information Form and the Q3 MD&A also contain information about the material factors or assumptions underlying such forward-looking statements and forward-looking information. Forward-looking information speak only as of the date the statements and information were made and unless otherwise required by applicable securities laws, Granite expressly disclaims any intention and undertakes no obligation to update or revise any forward-looking information contained in this press release to reflect subsequent information, events or circumstances or otherwise.

Contacts

Teresa Neto, Chief Financial Officer

647-925-7560

or

Andrea Sanelli, Senior Director, Legal & Investor Services

647-925-7504