Majority acquisition will support growth strategy of sub-metering services

TORONTO–(BUSINESS WIRE)–Northleaf Capital Partners (“Northleaf”) today announced a strategic partnership with Provident Energy Management Inc. (“Provident” or the “Company”), a leading provider of sub-metering and building automation services predominantly focused on the multi-residential new construction market. Funds managed by Northleaf have acquired a majority stake in Provident, aligning with the Company’s management team, who will maintain a minority interest, to expedite growth.

Provident is committed to generating substantial energy savings through individual utility metering and billing, building automation system installations and monitoring, and energy consulting services in the markets in which it operates.

“We look forward to working with Northleaf and multi-residential developers to strategically accelerate growth in new business opportunities and to grow our services across new markets throughout Canada and the US,” said Marco Pisterzi, COO/CFO at Provident.

“We’re delighted to partner with Provident and its management team to build upon the Company’s strong track record of providing customers an essential service that promotes energy efficiency,” said Jared Waldron, Managing Director at Northleaf. “Provident’s existing and diversified installed base and robust pipeline underpins a resilient, long-term and contracted cashflow profile. This is an excellent fit with our mid-market infrastructure strategy which focuses on stable businesses with strong downside protection.”

Provident will continue its longstanding commercial relationship with OZZ Electric Inc. (“OZZ”) to foster growth. As the largest multi-residential electrical contractor in Canada, OZZ employs over 1,200 people across Ontario, British Columbia, and Washington State. “The natural and symbiotic relationship between OZZ and Provident adds substantial value to both businesses, providing our developer customers the convenience and economy of combined electrical and suite metering services,” said Steven Muzzo, founder and CEO of OZZ and Provident.

Financial terms of the transaction were not disclosed. Northleaf was advised by National Bank Financial Inc. and Torys. The associated debt financing for this transaction was led and arranged by National Bank of Canada.

About Provident Energy Management Inc.

Provident is a leading sub-metering provider based in Ontario, Canada that provides billing services and energy management solutions to multi-residential buildings and their tenants. Provident has an extensive network of key developer relationships for whom Provident acts as the trusted partner to invest in sub-meters allowing multi-residential tenants to be billed for their actual utility usage thereby promoting energy conservation.

For more information on Provident, visit www.pemi.com.

About Northleaf Capital Partners

Northleaf Capital Partners is a global private markets investment firm with more than US$23 billion in private equity, private credit and infrastructure commitments raised to date from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s more than 200-person team is located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York and Tokyo. Northleaf sources, evaluates and manages private markets investments, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.

Contacts

Media

For Provident:

Marco Pisterzi

t +1.905.695.5241

e: mpisterzi@cricketenergy.com

For Northleaf:

Sneha Satish

Stanton

t: +1.646.502.3556

e: sneha.satish@stantonprm.com

Nadine Cannata

Managing Director, Marketing & Communications

t: +1.416.477.6623

e: nadine.cannata@northleafcapital.com

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent” or the “REIT”) today reported financial results for the second quarter ended June 30, 2023.

Operational and Financial Highlights:

• Same Property and Total Portfolio occupancy for June 2023 were 95.4%, an increase of 30 basis points compared to the same period last year.
• Average Monthly Rent (“AMR”) of $1,531 for the Total Portfolio and $1,523 for the same property portfolio, an increase of 6.8% and 6.5% year-over-year (“YoY”) respectively.
• Same Property Net Operating Income (“NOI”) for Q2 was $38.3 million, an increase of $5.0 million or 15.0% YoY.
• Total Portfolio NOI was $39.1 million, an increase of $5.6 million, or 16.8% YoY.
• NOI margin for the Same Property Portfolio and Total Portfolio were 66.3%, reflecting increases of 300 bps YoY.
• Funds from Operations (“FFO”) of $19.6 million, a 3.7% increase from Q2 2022. FFO per unit (diluted) of $0.134, an increase of 2.3% YoY.
• Adjusted Funds from Operations (“AFFO”) of $16.9 million, an increase of 3.8% YoY, and AFFO per unit (diluted) of $0.116, an increase of 2.7% YoY.
• Strong financial position with $282 million of available liquidity with Debt-to-Gross Book Value (“GBV”) of 37.7%.
• Committed to sell a 54-suite property in Ottawa, Ontario for a sale price of $11.5 million, exceeding IFRS value.
• Purchased 26,300 units under the Normal Course Issuer Bid (“NCIB”), and subsequent to the quarter, purchased 130,900 units under an Automatic Unit Purchase Plan (“AUPP”), representing a total of 157,200 units at a weighted average per-unit price of $12.71.

Brad Cutsey, President and CEO of InterRent REIT, commented on the results:

“We’re pleased to report on another solid quarter marked by back-to-back double-digit NOI growth and sustained expansion of NOI margins. AMR growth remained steady across our core markets, benefitting from the robust industry fundamentals that are showing no signs of slowing down. Our capital recycling program is now in motion, as we are committed to sell a non-strategic property at a price higher than its IFRS value. We continue to explore capital recycling opportunities and have identified various assets that could potentially provide net proceeds of over $75 million. While the completion of such transactions is subject to various factors and cannot be assured, we are confident that our well-defined disposition strategy will strengthen our balance sheet, help fund further growth opportunities, and allow us to continue to be active in our NCIB.”

Selected Consolidated Information In $000’s, except per Unit amounts and other non-financial data	3 Months Ended June 30, 2023			3 Months Ended June 30, 2022			Change
Total suites		12,709(1)			12,573(1)		+1.1%
Average rent per suite (June)	$	1,531		$	1,433		+6.8%
Occupancy rate (June)		95.4	%		95.1	%	+30 bps
Proportionate operating revenues	$	58,963		$	52,845		+11.6%
Proportionate net operating income (NOI)	$	39,068		$	33,446		+16.8%
NOI %		66.3	%		63.3	%	+300 bps
Same Property average rent per suite (June)	$	1,523		$	1,430		+6.5%
Same Property occupancy rate (June)		95.4	%		95.1	%	+30 bps
Same Property proportionate operating revenues	$	57,787		$	52,662		+9.7%
Same Property proportionate NOI	$	38,334		$	33,322		+15.0%
Same Property NOI %		66.3	%		63.3	%	+300 bps
Net Income	$	36,786		$	77,607		-52.6%
Funds from Operations (FFO)	$	19,584		$	18,880		+3.7%
FFO per weighted average unit – diluted	$	0.134		$	0.131		+2.3%
Adjusted Funds from Operations (AFFO)	$	16,877		$	16,262		+3.8%
AFFO per weighted average unit – diluted	$	0.116		$	0.113		+2.7%
Distributions per unit	$	0.0900		$	0.0855		+5.3%
Adjusted Cash Flow from Operations (ACFO)	$	20,627		$	16,648		+23.9%
Proportionate Debt-to-GBV		37.7	%		37.3	%	+40 bps
Interest coverage (rolling 12 months)	2.37x			3.19x			-0.82x
Debt service coverage (rolling 12 months)	1.54x			1.82x			-0.28x

⁽¹⁾ Represents 12,041 (2022 – 11,965) suites fully owned by the REIT, 1,214 (2022 – 1,214) suites owned 50% by the REIT, and 605 (2022 – nil) suites owned 10% by the REIT.

Disciplined portfolio growth underpinned by industry fundamentals

As of June 30, 2023, InterRent had proportionate ownership in 12,709 suites, up 1.1% from 12,573 as of June 2022. Including properties that the REIT owns in its joint ventures, InterRent owned or managed 13,860 suites at June 30, 2023. At 95.4%, the June 2023 occupancy rate in InterRent’s same property and total portfolios improved 30 bps over June 2022. Total portfolio occupancy is 140 bps lower than March 2023, and same property occupancy is 150 bps lower, this is due to seasonal fluctuations and is in line with the long-term average for June. AMR growth across the total portfolio was 6.8% for June 2023 as compared to June 2022, while same property AMR increased by an impressive 6.5% for the same period.

With record setting immigration in 2022 and continuing ambitious federal targets for 2023, strong leasing demand continues to drive AMR growth and strong occupancy numbers, resulting in total portfolio operating revenue growth of 11.6% over Q2 2022. Within the same property portfolio, these same factors have grown operating revenues by 9.7% compared to Q2 2022. NOI margin expansion for the overall portfolio and same property portfolio both accelerated to 300 basis points, reaching 66.3% during the quarter.

Strong debt profile, focused on optimizing mortgages

Financing costs in Q2 2023 came in at $15.0 million, compared to $10.4 million in Q2 last year, reflecting the impact from the Bank of Canada’s interest rate increases between March of 2022 and June of 2023.

Weighted average cost of mortgage debt increased marginally from March 2023 to 3.43%, and variable rate exposure ended the quarter at 5%, a marginal increase from 4% at the prior quarter but decreased substantially from the same period last year at 14%. The REIT has continued to actively manage its mortgage ladder, with its share of CMHC insured mortgages at 83%, consistent with March 2023.

Debt-to-GBV was at 37.7%, an increase of 40 basis points year over year and a decrease of 30 basis points when compared to March. With a conservative debt-to-GBV and $282 million of available liquidity, the REIT has significant financial flexibility for future capital programs, development opportunities and acquisitions.

Net income affected by fair value adjustments

Net income for the quarter was $36.8 million, a decrease of $40.8 million compared to Q2 2022. This decrease was primarily due to a $20.4 million difference in fair value adjustments of investment properties (moving from a $27.8 million gain to a $7.4 million gain). These fair value adjustments reflect an expansion of capitalization rates during the year. The REIT’s weighted average capitalization rate used across the portfolio at the end of Q2 2023 was 4.07%, an expansion of 3 basis points from Q1 2023, driven by greater cap rate increase in the suburban Other Ontario region.

The decrease in net income during Q2 2023 is also attributable to a $21.1 million drop in unrealized gain on financial liabilities (a $10.1 million gain compared to a $31.2 million gain during the same period last year).

FFO increased 3.7% from last year to $19.6 million and on a per unit basis increased 2.3% to $0.134. AFFO during the quarter increased 3.8% to $16.9 million, and on a per unit basis increased 2.7% on a per unit basis to $0.116.

Momentum at the Slayte remains strong

The Slayte development in Ottawa, the REIT’s first office conversion project, has reached the final stages of its interior construction. Located near LRT lines and steps to the Parliament, the building has captured considerable attention. The lease rate has surpassed 60% and the REIT is optimistic that the leasing momentum will continue throughout the rest of the leasing season.

Conference Call

Management will host a webcast and conference call to discuss these results and current business initiatives on Wednesday, August 2, 2023 at 10:00 AM EST. The webcast will be accessible at: https://www.interrentreit.com/2023-q2-results. A replay will be available for 7 days after the webcast at the same link. The telephone numbers for the conference call are 1-888-396-8049 (toll free) and 416-764-8646 (international). No access code required.

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure, and offer opportunities for accretive acquisitions.

InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) maintain a conservative payout ratio and balance sheet.

*Non-GAAP Measures

InterRent prepares and releases unaudited quarterly and audited consolidated annual financial statements prepared in accordance with IFRS (GAAP). In this and other earnings releases, as a complement to results provided in accordance with GAAP, InterRent also discloses and discusses certain non-GAAP financial measures, including Proportionate Results, Gross Rental Revenue, NOI, Same Property results, Repositioned Property results, FFO, AFFO, ACFO and EBITDA. These non-GAAP measures are further defined and discussed in the MD&A dated August 2, 2023, which should be read in conjunction with this press release. Since Proportionate Results, Gross Rental Revenue, NOI, Same Property results, Repositioned Property results, FFO, AFFO, ACFO and EBITDA are not determined by GAAP, they may not be comparable to similar measures reported by other issuers. InterRent has presented such non-GAAP measures as Management believes these measures are relevant measures of the ability of InterRent to earn and distribute cash returns to Unitholders and to evaluate InterRent’s performance. These non-GAAP measures should not be construed as alternatives to net income (loss) or cash flow from operating activities determined in accordance with GAAP as an indicator of InterRent’s performance.

Cautionary Statements

The comments and highlights herein should be read in conjunction with the most recently filed annual information form as well as our consolidated financial statements and management’s discussion and analysis for the same period. InterRent’s publicly filed information is located at www.sedar.com.

This news release contains “forward-looking statements” within the meaning applicable to Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. InterRent is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. A full description of these risk factors can be found in InterRent’s most recently publicly filed information located at www.sedar.com. InterRent cannot assure investors that actual results will be consistent with these forward looking statements and InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts

For further information:
Renee Wei

Director of Investor Relations & Sustainability

renee.wei@interrentreit.com
www.interrentreit.com

Not for distribution to U.S. News Wire Services or dissemination in the United States

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it has completed its previously announced issuance, on a private placement basis in certain Provinces of Canada (the “Offering”), of $350 million aggregate principal amount of series T senior unsecured debentures of the Trust bearing interest at a rate of 5.699% per annum and maturing on February 28, 2034 (the “Debentures”).

The Trust intends to use the net proceeds of the Offering (i) to repay all or a portion of the balance drawn on the Trust’s credit facility and (ii) for general business purposes.

DBRS Morningstar has provided the Debentures with a credit rating of “BBB” (high) with a “stable” trend and S&P Global Ratings has provided the Debentures with a credit rating of “BBB”. The Debentures rank equally with all other unsecured indebtedness of the Trust that has not been subordinated.

The Debentures were sold on an agency basis by a syndicate of agents co-led by RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets, and CIBC Capital Markets. The Debentures offered 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 Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties.

We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

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

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Choice Properties’ current expectations regarding future events, including the expected repayment of the maturing debentures and the intended use of proceeds of the Offering. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Choice Properties’ control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed in Choice Properties’ 2022 Annual Report, current Annual Information Form and 2023 Second Quarter Report. Choice Properties does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. All forward-looking statements contained in this press release are made as of the date hereof and are qualified by these cautionary statements.

Contacts

Mario Barrafato

Chief Financial Officer

Choice Properties Real Estate Investment Trust

(416) 628-7872

Mario.Barrafato@choicereit.ca

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX), the fastest growing publicly traded real estate brokerage, today announced that it will release its second quarter 2023 financial results before market open on Wednesday, August 9, 2023.

The Company will subsequently hold a conference call to discuss operating and financial results for the quarter on Wednesday, August 9, 2023 at 11:00 a.m. ET.

Conference Call Details:

Date:		Wednesday, August 9, 2023
Time:		11:00 a.m. ET
Dial-in Number:		North American Toll Free: 877-545-0523
		International: 973-528-0016
Access Code:		774191
Webcast:		https://www.webcaster4.com/Webcast/Page/2699/48756
Replay Number:		North American Toll Free: 877-481-4010
		International: 919-882-2331
Passcode:		48756
Replay Link:		https://www.webcaster4.com/Webcast/Page/2699/48756

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to Real’s second quarter 2023 earnings call, the release of the financial results and the business and strategic plans of Real.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

About Real

The Real Brokerage Inc. is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for home buyers and sellers. The company was founded in 2014 and serves 47 states, D.C., and four Canadian provinces with over 11,000 agents. Additional information can be found on its website at www.onereal.com.

Contacts

For additional information:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com
201.564.4221

By integrating with SAP, MaintainX’s mobile-first maintenance and asset management app allows large, multi-site manufacturers to capture more accurate and reliable maintenance and parts usage data from the shop floor.

SAN FRANCISCO–(BUSINESS WIRE)–MaintainX today announced that its mobile-first maintenance and asset management solution is now available on SAP® Store, the online marketplace for SAP and partner offerings. MaintainX integrates with SAP ERP and SAP S/4HANA®, enabling frontline maintenance, safety and operations teams to more easily manage work orders, parts inventory, purchase orders and more, using a mobile app built specifically for maintenance.

MaintainX CEO Chris Turlica said: “MaintainX helps SAP customers drive transformational change by making it easier than ever for their frontline teams to perform and record maintenance work. This integration enables manufacturers to get higher quality maintenance and equipment data into their ERP, unlocking new opportunities to reduce waste and keep production lines running for longer.”

MaintainX is available for free trial on SAP Store. It provides a top-rated mobile CMMS experience for maintenance managers and technicians, enabling customers to:

• Increase asset availability by preventing equipment breakdowns through preventive and predictive maintenance

• Save money by doing less reactive maintenance work, reducing inventory costs and planning maintenance work more effectively

• Reduce safety incidents with improved tracking and reporting of safety walkthroughs and audits

According to Jarrod Kipp, North America Supply Process Transformation Manager at Duracell, Inc., “Moving to MaintainX was one of the smoothest integrations I’ve ever seen in my career. We wanted to design a process that complemented our SAP technology, and MaintainX really understood exactly how to fit in. The store room associates now have a tool that’s a lot easier to use for looking up parts. We’re looking at savings of almost $50,000 per year in inventory variability.”

MaintainX has also been selected to become a member of the SAP.iO Foundry New York 2023 program focused on innovation in supply chain management. During the 5-month program, MaintainX will work to build and develop a long-term partnership with SAP by defining joint use cases, product integration and exploring business development opportunities.

SAP Store, found at store.sap.com, delivers a simplified and connected digital customer experience for finding, trying, buying and renewing more than 2,300 solutions from SAP and its partners. There, customers can find the SAP solutions and SAP-validated solutions they need to grow their business. And for each purchase made through SAP Store, SAP will plant a tree.

About MaintainX

MaintainX is a mobile-first maintenance and asset management platform built for the new industrial workforce.

It empowers frontline teams to more efficiently manage work orders, assets, parts inventory, purchase orders and more, reducing unexpected downtime and boosting production capacity. Today, MaintainX powers operational excellence for 6,000+ customers around the world, including ABInBev, Duracell, and Univar.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.

For more information on MaintainX, please visit our website.

Contacts

For more information, press only:
Tyler Hufstetler, Head of Partnerships, MaintainX

press@getmaintainx.com

CALGARY, Alberta–(BUSINESS WIRE)–#fintech–Zenbase, offering Canada’s only automated rent reporting and most popular split rent payments, is pleased to announce a partnership with unitii corp., a premier provider of residential property management services in Alberta. This collaboration aims to revolutionize the renting experience by offering residents the combined benefits of rent reporting for building credit and the option to split rent, facilitating easier budgeting.

Zenbase has gained recognition for its innovative credit-building solutions, empowering individuals to enhance their financial well-being. Through its solution, Zenbase enables users to report their rental payments automatically to Equifax, allowing them to establish or strengthen their creditworthiness.

Unitii is a trusted name in the real estate industry. By joining forces with Zenbase, unitii further enhances its suite of resident-focused offerings. In addition to traditional property management services, residents now have access to the option of splitting their rent payments, promoting more manageable budgeting and financial planning.

The partnership between Zenbase and unitii aligns perfectly with the ever-evolving needs of modern renters. By combining the power of credit building through rent reporting and the flexibility of splitting rent, residents will enjoy newfound financial freedom and the ability to achieve their long-term financial goals.

“We are excited to partner with unitii and bring our industry-leading credit-building technology to their residents,” said Koray Can Oztekin of Zenbase. “We believe that everyone should have the opportunity to build a strong credit history, and this partnership will provide unitii’s residents with the tools they need to take control of their financial futures.”

Lizaine Wheeler, COO of unitii corp, expressed her enthusiasm about the partnership, stating, “unitii is committed to delivering exceptional living experiences for our residents. By teaming up with Zenbase, we are not only enhancing our services but also empowering our residents with the opportunity to improve their credit scores and create better financial prospects for themselves. We are thrilled to provide our residents with this valuable resource.”

About Zenbase

Zenbase, a leader in rewarding and flexible rent payments, is committed to economic inclusion that fosters financial empowerment for renters. Our solutions aid the financial wellness of renters while improving operational efficiency for property managers. Rent is usually due on the first of the month, but that doesn’t align with most people’s bi-monthly pay cycle. Zenbase fixed that misalignment by offering residents the option to split their rent into two monthly payments and provide other financial health solutions such as rent reporting. For more information on how to get started with Zenbase or CreditBuilder, visit myzenbase.com.

About unitii corp.

At unitii our focus is reimagining property ownership and enhancing residents experience. Owning properties should be seamless and stress free. Our senior leadership team has combined their decades of experience, managing over 60,000 apartments to create a platform that transforms the rental journey. We make it a priority to stay up to date on all the latest market information, technology, and talent that will provide best in class property management. We live and breathe Property Management! For more information visit unitii.ca.

Contacts

Zenbase Press Contact:
Philipp Postrehovsky

philipp@myzenbase.com
604.657.2775

Unitii Property Management Press Contacts:
Lizaine Wheeler

lizaine@unitii.ca
825-910-8258

Lisa Russell

lisa@unitii.ca

CINCINNATI–(BUSINESS WIRE)–Cintas Corporation (Nasdaq: CTAS) announced that the Company’s Board of Directors approved a quarterly cash dividend of $1.35 per share of common stock payable on September 15, 2023 to shareholders of record at the close of business on August 15, 2023. This represents a 17.4% increase compared to last fiscal year’s dividend. Cintas has a strong record of returning capital to its shareholders and has consistently raised its dividend each year since Cintas’ initial public offering 40 years ago in 1983.

Any future dividend declarations, including the amount of any dividends, are at the discretion of the Board of Directors and dependent upon then-existing conditions, including the Company’s operating results and financial condition, capital requirements, contractual restrictions, business prospects and other factors that the Board of Directors may deem relevant.

Cintas

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 a wide range of products and services that enhance our customers’ image and help keep their facilities and employees clean, safe and looking their best. With products and services including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety and compliance training, 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

J. Michael Hansen, Executive Vice President and Chief Financial Officer – 513-972-2079

Jared S. Mattingley, Vice President – Treasurer & Investor Relations – 513-972-4195

Top 1% company led by renowned real estate professional John McMonigle aligns with Real to provide agents more opportunities, propel growth

TORONTO & NEW YORK–(BUSINESS WIRE)–$REAX #therealbrokerage–The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX), the fastest-growing publicly traded real estate brokerage, announced today that agentinc, led by well-known Southern California real estate professional and five-time winner of RealTrends’ No.1 real estate team John McMonigle, is the latest top-producing independent brokerage to align with Real.

Formed in 2019 by McMonigle and Scott MacDonald, also one of Southern California’s most respected real estate professionals who ranked in the top 1% of agents nationally as a producer, agentinc has generated annual sales of $1 billion and earned the distinction of the No. 1 brokerage in Corona Del Mar, California in 2022. The 125-agent team, which has presence from Fresno to San Diego, also has team members in Arizona, Texas and Washington through its cloud-based office model.

“We are thrilled to have agentinc join the Real family. I am personally excited to work with John McMonigle again and welcome his visionary thinking and innovative marketing to Real. Scott MacDonald has been widely recognized as one of the top real estate leaders in California having seen amazing success from being an agent, to running an office, to building a franchise to co-founding and growing agentinc with John,” said Real President Sharran Srivatsaa.

“Our vision now and from the beginning has always been to offer our agents more than any other brokerage can,” McMonigle said. “The decision to join Real empowers agentinc to offer more financial incentives than ever before, including stock awards, an industry-low cap and revenue share program with potential attraction opportunities across the U.S. and Canada as well as Real’s collaborative business model.”

MacDonald said, “We’re always looking out for the future. To meet our growth objectives, we knew our next move was to continue to expand our capabilities and income opportunities and financial benefits. With Real, our agents gain a low cap and an industry-best tech stack combined with stock awards opportunities in one of the world’s most dominant real estate juggernauts.”

About Real

The Real Brokerage Inc. (TSX: REAX) (NASDAQ: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for home buyers and sellers. The company was founded in 2014 and serves 47 states, D.C., and four Canadian provinces with over 11,000 agents. Additional information can be found on its website at www.onereal.com.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding Real’s ability to continue to attract and retain agents.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns and Real’s ability to attract new agents and retain current agents. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contacts

Investor inquiries:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Senior Director, Communications

elisabeth@therealbrokerage.com
201.564.4221

Five parks each receive $50,000 for park restoration, beautification or enhancement needs and a new Bobcat zero-turn mower

WEST FARGO, N.D.–(BUSINESS WIRE)–Bobcat Company, a global compact equipment, innovation and worksite solutions brand, has extended five grants, each worth $50,000, to parks across the nation as part of its partnership with the National Recreation and Park Association (NRPA).

In addition to the grant offering, every park and recreation department that applied for the grant—regardless of receiving the grant or not—will receive a new Bobcat zero-turn mower to help them accomplish more for their community spaces.

The recipients of the $50,000 grants include City of Stonecrest in Stonecrest, Ga.; Davidson County Parks and Recreation in Lexington, N.C.; City of Buffalo Parks in Buffalo, N.Y.; San Antonio River Authority in San Antonio, Texas; and City of Auburn Parks, Arts & Recreation in Auburn, Wash.

“Our commitment to positively impact communities is ingrained in all of us at Bobcat, and we are humbled to give back to these deserving communities in support of this mission,” said Mike Ballweber, president, Doosan Bobcat North America. “By supporting sustainability efforts today, we can offer a better tomorrow to the generations to come.”

Through Bobcat and NRPA’s shared commitment to creating vibrant and sustainable community park and recreation areas, the grant dollars will support various restoration, sustainability, beautification or enhancement activities at these sites.

The grant recipients’ plans include:

• City of Stonecrest in Stonecrest, Ga.: The City of Stonecrest, located east of Atlanta, plans to develop a walking trail at Everett Park. The new trail aims to encourage community residents to engage with the outdoors and attend the park and recreation department’s programs which include forest therapy programs, bird watching walks, summer camps, fishing and camping opportunities. The local park and recreation team will utilize the grant dollars, plus Bobcat equipment for forest mulching, grading and compacting to support development of this new ADA-compliant trail.
• Davidson County Parks and Recreation in Lexington, N.C.: A pollinator garden and bog garden is being developed at a newly created park called Yadkin River Park. The project is being led by the Davidson County Parks and Recreation Department in collaboration with the master gardeners of Davidson County, Catawba College Department of Environment and Sustainability, North Carolina state agencies, Town of Spencer and Friends of Rowan County. The gardens will demonstrate the resilience of the native bog plants in North Carolina, and it will also protect the surrounding community from adverse effects like water pollution and flooding. Educational signage will be on display for the public and local educators to use these spaces to teach children as they play at the nearby playgrounds. The agencies will work together to plant, mulch, maintain and teach people how these plants help the environment.
• City of Buffalo in Buffalo, N.Y.: The City of Buffalo Parks and Buffalo Niagara River Land Trust are partnering on a 22-acre conservation easement known as Houghton Park. What was once a dumping ground of large broken concrete slabs, bricks and stones, will become an open nature conservation area in a dense urban neighborhood overlooking the Buffalo River. The project team will leverage compact equipment from Bobcat to remove the heavy construction debris, while offering a light footprint on the sensitive landscape. The conservation area will reconstruct pedestrian trails and create access points from the area neighborhoods.
• San Antonio River Authority in San Antonio, Texas: The San Antonio River Authority plans to develop new trails, create two bioswales and plant native species at its 351-acre Trueheart Ranch Park which fronts the San Antonio River. These park initiatives aim to make the park more resistant to climate outcomes. After the completion of this project, the park plans to open these areas to the public and offer various programming opportunities such as fishing clinics, tent building and nature hikes. The team will utilize Bobcat equipment for use in constructing the trails.
• City of Auburn Parks, Arts & Recreation in Auburn, Wash.: Located south of Seattle, the City of Auburn Parks, Arts & Recreation will create a more inclusive environment for the community by creating new ADA-accessible gravel pathways at Auburndale Park. The project will reinvigorate two existing pathways to remove the outdated asphalt and replace it with crushed gravel. To complete the project, the team will use Bobcat equipment to demo the asphalt, then to install the gravel paths to proper grade.

“We are so excited to help create more sustainable and resilient communities by extending grants to these deserving communities,” said Ayanna Williams, NRPA director of community and environmental resilience. “Park and recreation professionals are champions in addressing our most pressing environmental challenges and we are grateful to Bobcat for their support to improve, preserve and beautify these spaces.”

Each park will begin its project this summer with varying stages of completion over the next several months.

To learn more about Bobcat’s community involvement, visit bobcat.com. To learn more about NRPA, visit nrpa.org.

Media Resources: To see photos of the project sites in their current state prior to work starting, please visit this Dropbox link. Davidson County also provided renderings to showcase its plans, which are available via the link. Additional updates will be shared as project work commences and is completed.

About Bobcat Company

Since 1958, Bobcat Company has been empowering people to accomplish more. As a leading global manufacturer of compact equipment, Bobcat has a proud legacy of innovation and a reputation based on delivering smart solutions to customers’ toughest challenges. Backed by the support of a worldwide network of independent dealers and distributors, Bobcat offers an extensive line of compact equipment, including loaders, excavators, compact tractors, utility products, telehandlers, mowers, attachments, implements, parts, and services. In 2024, Bobcat will expand its brand with the addition of portable power, industrial air and industrial vehicle offerings. Headquartered in West Fargo, North Dakota, Bobcat continues to lead the industry with its new and innovative offerings.

The Bobcat brand is owned by Doosan Bobcat, Inc., a company within the Doosan Group. Committed to empowering people to accomplish more, Doosan Bobcat is dedicated to building stronger communities and a better tomorrow.

About the National Recreation and Park Association

The National Recreation and Park Association (NRPA) is the leading not-for-profit organization dedicated to building strong, vibrant and resilient communities through the power of parks and recreation. With more than 60,000 members, NRPA advances this mission by investing in and championing the work of park and recreation professionals and advocates — the catalysts for positive change in service of equity, climate-readiness, and overall health and well-being. For more information, visit nrpa.org. For digital access to NRPA’s flagship publication, Parks & Recreation, visit parksandrecreation.org.

©2023 Bobcat Company. All rights reserved.

Contacts

Nadine Erckenbrack, Bobcat Public Relations Manager

Email: na.newsroom@doosan.com
Mobile: 701-205-9207

Danielle Doll, NRPA Sr. Manager of Strategic Communications

Email: ddoll@nrpa.org
Mobile: 571-223-2420

VANCOUVER, British Columbia–(BUSINESS WIRE)–Metrie^®, North America’s largest manufacturer and distributor of millwork solutions, announced that they are adding a new Retail distribution center in Louisville, KY.

The new facility, set to be fully operational by year-end, puts Metrie in a position to continue to grow with its top retail customer, Lowe’s. The Louisville facility will provide enhanced customer service, speed to market, and flexibility – supporting operational and logistical efficiencies across its Retail business.

“The addition of the Louisville facility supports our commitment to building the best supply chain solutions in the industry,” commented Joe Woods, VP & GM Retail, Metrie. “The Metrie Retail team is excited for the new opportunities that this facility will bring for both the Metrie team and Lowe’s.”

“Growth continues to be on the forefront at Metrie as we continue to expand through new and improved facilities and recent acquisitions. The addition of the Louisville facility is another step in the pursuit of Metrie’s growth strategy – to be North America’s most trusted integrated millwork provider,” commented Kent Bowie, President & CEO, Metrie. “In an ever-changing and dynamic industry, we are making commitments and business decisions to continue delivering the exceptional customer service that Metrie is known for. The Louisville facility is one example of how we continue to execute on our customer promise.”

About Metrie^®:

For nearly 100 years, Metrie has helped people transform their homes with high-quality millwork products. The Metrie story began in 1926 as a small, family-owned and -operated business in Vancouver, B.C. Since then, Metrie’s commitment to innovative design and fine craftsmanship has helped the company expand operations to include six solid wood and MDF manufacturing facilities, plus 26 distribution centers in the U.S. and Canada. Metrie has grown over the last nine decades to become the largest MDF moulding manufacturer in North America. For more information, please visit www.Metrie.com or visit us on social media: LinkedIn, Facebook, Instagram, Twitter, Pinterest, YouTube and Houzz.

Contacts

Jonathan Anthony, Director, Corp. Communications | Jonathan.Anthony@metrie.com | 604-630-3262

TORONTO–(BUSINESS WIRE)–DREAM OFFICE REIT (TSX: D.UN) (“Dream Office” or the “Trust”) today announced its July 2023 monthly distribution of 8.333 cents per REIT Unit, Series A ($1.00 annualized). The July distribution will be payable on August 15, 2023 to unitholders of record as at July 31, 2023.

Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest office markets in the world. For more information, please visit our website at www.dreamofficereit.ca.

Contacts

For further information, please contact:

Michael J. Cooper

Chairman and Chief Executive Officer

(416) 365-5145

mcooper@dream.ca

Jay Jiang

Chief Financial Officer

(416) 365-6638

jjiang@dream.ca

TORONTO–(BUSINESS WIRE)–DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact” or the “Trust”) today announced its July 2023 monthly distribution in the amount of 5.333 cents per Unit (64 cents annualized). The July distribution will be payable on August 15, 2023 to unitholders of record as at July 31, 2023.

About Dream Impact Trust

Dream Impact Trust is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and investing holdings, and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities; while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

Contacts

DREAM IMPACT TRUST

Meaghan Peloso

Chief Financial Officer

(416) 365-6322

mpeloso@dream.ca

Kimberly Lefever

Director, Investor Relations

(416) 365-6339

klefever@dream.ca