TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (Nasdaq: REAX) today announced that it has been named as a defendant in a putative class action lawsuit, which was filed in the United States District Court for the Western District of Missouri.

The lawsuit, under the caption Umpa v. The National Association of Realtors, et al. (the “Class Action”), alleges that certain real estate brokerages, including The Real Brokerage, participated in practices resulting in inflated buyer broker commissions, in violation of federal antitrust laws.

The Company is currently evaluating the complaint and at this time cannot provide further details or comments. The Company believes that additional antitrust litigation may be possible. The Company cannot provide any assurances that results of this or similar litigation will not have a material adverse effect on its business, results of operations or financial condition. The Real Brokerage will continue to monitor the situation closely and will provide updates as more information becomes available and is appropriate for disclosure.

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports more than 13,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

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 belief’s regarding additional litigation. 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, the impact of additional litigation. 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, please contact:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

elisabeth@therealbrokerage.com
201.564.4221

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting fourth quarter 2023 results on February 14, 2024, after-market hours.

Management will host a conference call the next day on February 15, 2024 at 10:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial 1 (240) 789-2714 or 1 (888) 330-2454 enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

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.

Contacts

Ronald Nip

Senior Manager, Investor Relations

T: +1 647 417 1599

E: ronald.nip@choicereit.ca

DALLAS–(BUSINESS WIRE)–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client Denille Industries to a Private Investor Group. The transaction closed June 16, 2023.

Denille Industries (dba Auburn Rentals – AUB), located in Edmonton, Alberta, Canada, is a temporary oilfield workforce housing rental Company serving oil and gas companies in Canada. AUB manufactures its fleet of wellsite trailers for rent and is also an authorized dealer of Cargo King and Mirage utility trailers. AUB serves oil & gas businesses primarily in Western Canada including Alberta and British Columbia.

Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham and his team, led by Senior M&A Advisor, Ted Rattenberry, with support from Senior Vice President, M&A Amy Wall closed the deal. Executive Managing Director, Bill Kushnir established the initial relationship with AUB.

About Generational Equity

Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. The Generational suite of advisory services includes strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A services, wealth management and digital services.

The M&A Advisor named Generational Equity Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. The Global M&A Network named Generational USA Investment Bank of the Year in 2023. For more information visit https://www.genequityco.com/ or the Generational Equity press room.

Contacts

Carl Doerksen

972-342-0968

cdoerksen@generational.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or “the Trust”) (TSX: PMZ.UN) announced today it has entered into an agreement to upsize its $400 million revolving credit facility to $600 million, aligning to Primaris’ unsecured debt strategy, enhancing financing flexibility and liquidity.

The $600 million unsecured syndicated revolving credit facility matures January 4, 2027. Based in part on the Primaris’ credit rating of BBB (high), the credit facility bears interest at variable rates of either: (i) Prime plus 0.35% per annum or (ii) Adjusted Canadian Overnight Repo Rate Average (“CORRA”) plus 1.35% per annum. Six Canadian banks participated in the syndicate, led by CIBC, Scotiabank, TD Securities, and Desjardins Capital Markets, and included National Bank Financial and RBC.

“This upsized revolving credit facility allows us to actively manage our property portfolio while providing maximum flexibility and additional access to liquidity at very attractive terms, and complements our well-laddered debt maturity profile,” said Rags Davloor, Chief Financial Officer. “Primaris’ differentiated financial model is intentional and a critical pillar to our strategy and our growth story. Maintaining this conservative model and generating free cash flow after distributions and capital expenditures is a core focus from which we will not deviate.”

Alex Avery, Chief Executive Officer added, “After completing meaningful acquisitions in 2023, the new credit facility provides Primaris with approximately $650 million of additional financial liquidity, inclusive of cash on hand, with which to pursue further strategic acquisitions. We are excited about what is possible in 2024, and look forward to continuing to execute on the REIT’s growth strategy.”

Primaris has a well balanced capital structure and a preference for unsecured financing. As previously announced in November 2023, Primaris issued $400 million aggregate principal amount of senior unsecured debentures, consisting of a $100 million aggregate principal amount re-opening of the Series A Debentures maturing March 30, 2027 and a $300 million aggregate principal amount of Series D Debentures maturing June 30, 2029.

Disciplined capital allocation is a key pillar to Primaris’ strategy. To this end, Primaris reiterates its established targets for managing the Trust’s financial condition.

	Targets
Debt to Total Assets**1	25% – 35%
Average Net Debt** to Adjusted EBITDA**1	4.0x – 6.0x
FFO Payout Ratio**	45% – 50%
Secured debt to Total Debt**	<40%

** Denotes a non-GAAP measure. See Section 1, “Basis of Presentation” – “Use of Non-GAAP Measures” and Section 12, “Non-GAAP Measures” in the Trust’s management’s discussion and analysis for the three and nine months ended September 30, 2023 (the “MD&A”).

1 The debt ratios are non-GAAP ratios calculated on the basis described in the indentures for the Series A, Series B, Series C and Series D debentures (the “Trust Indentures”). See Section 10.4, “Capital Structure” in the MD&A.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in the leading enclosed shopping centres in growing markets. The portfolio totals 39 properties, or 12.5 million square feet, valued at approximately $3.9 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.

Forward-Looking Statements Disclaimer

Certain statements included in this news release constitute ‘‘forward-looking information” or “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “expects”, “plans”, “estimates”, “intends” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements made or implied in this news release include but are not limited to statements regarding: Primaris’ adherence to its financial model and focus on generating free cash flow after distributions and capital expenditures. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their very nature they require making assumptions and involve inherent risks and uncertainties. Primaris cautions that although it is believed that the assumptions are reasonable in the circumstances, these risks and uncertainties give rise to the possibility that actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors and assumptions include those set out in the MD&A which will be available on SEDAR+, and in Primaris’ other materials filed with the Canadian securities regulatory authorities from time to time. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, Primaris undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.

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

Investor Relations

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announces the publication of its inaugural Environmental, Social & Governance (“ESG”) Report, in which Primaris outlines the formation of its ESG plan and the material ESG factors, governance practices, accomplishments, and metrics that impact its business.

“Through a significant amount of hard work across all our functional departments, Primaris has transitioned beyond its continuing CSR initiatives to an established ESG plan that aligns to, and enhances our strategy and responsiveness to the evolving needs of Primaris’ stakeholders,” said Alex Avery, Chief Executive Officer. “Consistent with our quarterly financial disclosures, we aim to provide clear and transparent disclosure and communication about the REIT’s business and our ESG practices. Primaris will work to achieve our business and ESG objectives while acting in a manner consistent with the best-in-class profile we have created, being a respected and sought-after partner and transaction counterparty, and a preferred place for employees to work.”

ESG Report Highlights

• Governance
  • Board Mandate and Committee Charters integrate ESG oversight;
  • Establishment of open and direct engagement between Primaris’ Trustees and Primaris’ investors, in the absence of management;
  • Two Trustees with climate expertise; and
  • 33% of Trustees are female.
• Environmental
  • 100% of shopping centres are Green Building Certified; and
  • Energy, Greenhouse Gas (“GHG”) emissions, water and waste data is third party assured.
• Social
  • 86% of employee survey participants state Primaris is a great place to work leading to “Great Place to Work” certification;
  • Primaris obtained an 85% satisfaction score pursuant to its 2022 tenant engagement survey; and
  • Females comprise of the following:
    • 29% of executives;
    • 55% of senior management; and
    • 57% of total employees.

Primaris identified its material ESG factors through an ESG materiality assessment conducted in 2022. The material ESG factors are organized into three ESG pillars: Environmental, Social, and Governance. Primaris took a step further and fully integrated the material ESG factors into Primaris’ well articulated business strategy and key performance indicators. Primaris’ business strategy is comprised of three strategic pillars: retailer affordability, consolidation opportunity and disciplined capital allocation. As depicted below, Primaris’ material ESG factors are strongly linked to its business strategy:

		Link to Strategic Objectives
	Material ESG Factors	Retailer Affordability	Consolidation Opportunity	Capital Allocation
Environment	Energy management	Strong Link	Weak Link	Moderate Link
	Tenant sustainability impacts	Strong Link	Weak Link
	GHG emissions and climate change	Moderate Link	Moderate Link	Moderate Link
	Green buildings	Moderate Link	Moderate Link	Moderate Link
	Water and waste management	Strong Link		Moderate Link
Social	Tenant relations	Strong Link	Strong Link
	Employee relations	Moderate Link	Weak Link	Weak Link
	Community relations	Moderate Link	Weak Link	Weak Link
Governance	Business ethics and transparency	Weak Link	Weak Link	Weak Link
	Supply chain	Moderate Link	Weak Link	Weak Link

Primaris’ inaugural ESG Report can be found here or at www.primarisreit.com.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in the leading enclosed shopping centres in growing markets. The proforma portfolio totals 39 properties, or 12.5 million square feet, valued at approximately $3.9 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.

Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities legislation which reflects the Trust’s current expectations regarding future events. Although the Trust believes that the expectations reflected in such forward-looking information are reasonable, assessing forward-looking ESG metrics and risks, and climate metrics and risks in particular, is more complex and longer-term in nature than traditional business metrics and risks. Many forward-looking methodologies are new and evolving, and there is limited guidance from methodology providers on the calculation or comparability of these measures. In particular, uncertainty around future climate-related policy can contribute to greater variation in transition pathway models. Future updates to factors such as changes in global emissions, available technologies or economic conditions may result in changes to the Trust’s reporting. A number of additional factors, including improvements to the coverage, quality, and availability of the Trust’s data and methodologies, may also necessitate changes. The information in this news release reflects what the Trust believes is the best available data. The Trust’s ability to achieve its ESG goals is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information and may require the Trust to adjust its ESG initiatives, activities or plans to reflect a changing landscape. Such risks and uncertainties include, but are not limited to; the availability, accessibility and suitability of comprehensive and high-quality data; the development of consistent, robust and comparable ESG metrics and methodologies, in particular in respect of climate change; the development and deployment of new technologies and industry-specific solutions; international cooperation; the development of provincial, national and international laws, policies and regulations in respect of ESG matters; and additional factors and risks discussed in the Trust’s current Annual Information Form and Annual Report to Unitholders. The forward-looking statements in this news release are presented for the purpose of assisting investors and other stakeholders in understanding the Trust’s ESG priorities, strategies and objectives, and may not be appropriate for other purposes. Undue reliance should not be placed on the forward-looking information in this news release. The Trust 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 news release are made as of December 21, 2023, and are qualified by these cautionary statements.

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

Investor Relations

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

Acquires First Property Outside U.S., Located in Fast-Growing Edmonton Market

SARATOGA SPRINGS, N.Y.–(BUSINESS WIRE)–Prime Group Holdings, LLC (“Prime Group”), a vertically-integrated private equity real estate firm, today announced the company is bringing its significant self storage expertise to the Canadian market, acquiring its first Canadian property in the Edmonton suburb of Sherwood Park, Alberta. The acquisition was made through the firm’s third flagship fund, Prime Storage Fund III, LP.

The recently constructed single-story building, located at 70 Broadview Road in Sherwood Park, is comprised of over 54,600 rentable square feet, a combined 472 indoor climate controlled and drive-up units, and 22 parking spaces. Located east of Edmonton, the Sherwood Park community offers a suburban lifestyle for families and professionals living and working in Edmonton and includes a mix of suburban residential neighborhoods as well as shopping centers, restaurants, and the Sherwood Park Mall. Already nearly 90% occupied, the property is easily accessible via car and public transportation.

“We are thrilled to bring our deep self storage sector expertise and institutional property management platform to the Canadian market as we continue to expand our business,” said Robert Moser, Prime Group’s Founder, Principal, and Chief Executive Officer. “We carefully chose the Edmonton market, as the region has experienced significant population growth in recent years due to its natural beauty, culture, history, and strong economy—particularly in the increasingly diverse and affluent Sherwood Park suburb. Accordingly, more and more residents and businesses in metro Edmonton are experiencing meaningful life changes and business opportunities that are driving the need for high-quality storage options, exhibiting similar demographic characteristics to those we see and invest in within the U.S. market. Over time, we look forward to executing our strategy across Canada, as we identify quality self storage assets backed by strong demographics and continue delivering attractive risk-adjusted returns to our investors.”

Since inception, Prime Group has owned and operated over 360 self-storage facilities representing more than 201,000 storage units and containing over 25.2 million rentable square feet. The firm operates internationally across the U.S. and Canada, with facilities spanning 28 states, the Province of Alberta, and the islands of St. Thomas and St. Croix.

About Prime Group Holdings

Prime Group Holdings is a vertically integrated private equity real estate firm focused on self storage and other alternative real estate asset classes, managing assets worth well over $4 billion on behalf of a global institutional investor base. Headquartered in Saratoga Springs, NY, with a regional office in Jupiter, FL and investment origination offices in Denver, CO and Hackensack, NJ, the firm has more than 650 employees, including investment professionals, property managers, an investor reporting team, construction and marketing personnel, and deal-sourcing professionals. For more information, please visit https://www.goprimegroup.com/.

Contacts

Media
Nathaniel Garnick/Grace Cartwright

Gasthalter & Co.

(212) 257-4170

PrimeGroup@gasthalter.com

Strategic acquisition expands ECI’s presence in Europe with the most complete residential construction and craft business management software portfolio in the Netherlands.

FORT WORTH, Texas–(BUSINESS WIRE)–ECI Software Solutions, a global provider of cloud-based business management software and services, announced today it has completed the acquisition of Treetop Group, a software company specialized in business software solutions for the residential construction and craft industry in the Netherlands. This marks ECI’s first acquisition in the residential construction industry outside of North America and expands ECI’s European footprint, further broadening its residential construction software portfolio. Terms of the deal were not disclosed.

“Treetop empowers business owners through modern technology and automation that addresses the unique business challenges of the Dutch residential construction industry. ECI’s heritage as a leader in residential construction industry software and Treetop’s many decades of experience and deep, loyal customer base in the Netherlands make a great combination,” said Trevor Gruenewald, CEO of ECI Software Solutions.

Treetop offers a wide range of enterprise resource planning (ERP) software and business applications that cater to the needs of small to medium-sized businesses (SMBs) in the residential construction and crafts sector in the Netherlands. Treetop has been formed through a selective buy-and-build strategy with support from its majority stakeholder, Nedvest.

“I am proud of what we have achieved together with the Treetop team. I want to take this opportunity to thank all the people at Treetop for their dedication and energy to grow and build the company over the recent years. We know ECI well and consider them to be the ideal partner to support Treetop in further cementing its position as a market leader in the construction software ecosystem,” said Maarten van der Vlist, partner at Nedvest.

Treetop plans to launch a new cloud product in 2024: Treetop Online, a cloud-native ERP software solution designed to manage construction business processes in real time for smaller construction and craft companies.

Treetop’s existing products include: Admicom, an all-in-one ERP software built specifically for SMB construction companies; Kraan, an ERP software platform for mid-market construction companies; Technosoft, a 2D/3D building design software for constructors; TreeICT, a managed services company; HomeDNA, an expert system that streamlines customer and quality processes in the construction industry; and Frank, a construction software application that supports those who are self-employed in construction.

“ECI has forged an enduring path in the residential construction software industry, anchored by a proven track record and unmatched expertise,” said Geert-Jan den Besten, CEO of Treetop. “As this industry continues to evolve and modernize, ECI remains steadfast in its mission to empower and elevate its customers with investments in innovation, a top-notch R&D team and global support for customer growth. As Treetop and ECI join forces, we look forward to continuing the customer-centric approach that has defined Treetop’s success.”

With more than 3,000 customers, ECI Europe already has a growing presence in the Dutch manufacturing industry. Applying industry knowledge, ECI helps drive customer growth with innovative software solutions in the areas of ERP, finance, CAD/CAM, supply chain, shopfloor control, field service and business analytics. The strategic acquisition of Treetop further expands ECI’s portfolio and industry expertise in the region.

To learn more about ECI, visit its website.

About ECI Software Solutions

ECI Software Solutions provides cloud-based business software for running small and mid-sized businesses end to end. Built by experts in manufacturing, residential construction, service management, building supply, office technology and wholesale/retail distribution industries, ECI’s industry-specific software connects businesses and customers, improving visibility, operational efficiency and profitability. With ECI, businesses seamlessly integrate sales and marketing, business intelligence, CRM, data and analytics, ecommerce, mobile apps and payment processing. With more than 30 years of industry leadership, ECI is trusted by 24,000 customers in more than 80 countries globally. Headquartered in Westlake, Texas, it has offices in the U.S., Canada, Mexico, United Kingdom, the Netherlands and Australia. For more information, visit ECIsolutions.com.

About Nedvest

Nedvest is a family-run business based in Amsterdam, recognized for its active involvement as a shareholder in the companies it supports. Concentrating on investments in the Netherlands, Nedvest employs a hands-on approach and brings a wealth of experience to its partnerships. This has led to (international) deals and successful exits across a diverse range of industries. Nedvest has shown versatility and commitment to nurturing and driving growth in businesses of various sectors and is currently focusing on the digital economy within its existing portfolio. For more information, visit Nedvest.

Contacts

Brittni Borrero

Gabriel Marketing Group (for ECI Software Solutions)

Phone: +1-248-931-3418

Email: brittnib@gabrielmarketing.com

TORONTO–(BUSINESS WIRE)–DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact” or the “Trust”) today announced its December 2023 monthly distribution in the amount of 5.333 cents per Unit (64 cents annualized). The December distribution will be payable on January 15, 2024 to unitholders of record as at December 29, 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

TORONTO–(BUSINESS WIRE)–DREAM OFFICE REIT (TSX: D.UN) (“Dream Office” or the “Trust”) today announced its December 2023 monthly distribution of 8.333 cents per REIT Unit, Series A ($1.00 annualized). The December distribution will be payable on January 15, 2024 to unitholders of record as at December 29, 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)–Workers and students from across the University of Toronto campuses will come together for a Holiday Solidarity Rally in front of Simcoe Hall at 3:00 p.m. on Monday, December 18.

The historic rally will see members of the university’s academic union, CUPE 3902, its maintenance and custodial union, CUPE 3261, and library workers represented by CUPE 1230 and students together.

Together, the three locals of the Canadian Union of Public Employees will voice their wish for respect, dignity and a living wage for University of Toronto workers.

Collectively, the three locals represent some 8,000 workers who are in negotiations with the University. They include caretakers, food service workers, library staff, student casuals, postdocs, teaching assistants, contract and sessional instructors, and many others.

All three CUPE locals have filed for conciliation.

Highlights include a performance by the CUPE 3902 Labour Choir, and workers and students delivering their holiday wishes to the University’s Governing Council.

WHO: CUPE locals 3902, 3261 and 1230

WHAT: Holiday Solidarity Rally

WHEN: 3-4:30 p.m., Monday, December 18

WHERE: Simcoe Hall, King’s College Circle, University of Toronto.

lf/cope491

Contacts

Craig Saunders, CUPE Communications, 416-576-7316

IRVINE, Calif.–(BUSINESS WIRE)–Dahua Technology, a global leader in innovative security solutions, has announced the launch of its state-of-the-art video access controller. This cutting-edge device aims to redefine residential access control systems by incorporating advanced security technology and intuitive user-friendly features, ensuring a new level of security for residential environments.

Installation contractors can leverage this advanced security product – the DHI-ASI8213SA-W video controller – to provide immense value to their clients, including small and medium-sized business owners, factories, casinos, and warehouses.

Setting itself apart from existing products in the market, the DHI-ASI8213SA-W excels through its seamless integration into the DSS Pro platform while still functioning as a standalone product. This unique capability not only ensures a smooth transition for users but also eliminates the need for additional software purchases, resulting in significant cost savings for clients.

The DHI-ASI8213SA-W video access controller, equipped with the cutting-edge Android 11 operating system, offers a seamless integration platform for third-party applications, delivering an all-encompassing and adaptable security solution. This advanced device supports various identification methods, including face detection+, card reading, password entry, and QR code access.

“Our DHI-ASI8213SA-W redefines residential security by combining seamless entry with the convenience of multiple unlock methods, including face detection+, card reading, password, and the highly demanded QR code access, accommodating residents’ fast-paced lifestyles,” said Kevin Sok, Product Marketing Manager at Dahua Technology.

If residents find themselves in a situation where they are in a hurry and accidentally locked themselves outside, there is no need to worry. Our system offers a convenient solution for individuals to swiftly reach out to their Homeowners’ Association (HOA) and receive prompt assistance. Residents can easily contact the HOA using our device via the Dahua indoor monitor (VTH) or the VMS platform, DSS Pro v8. Following the call, the HOA can generate a temporary QR code for access.

Moreover, the device’s noteworthy feature of displaying rotating advertisements presents an excellent opportunity to effectively communicate HOA regulations and community updates to all residents. This ensures that important information reaches every corner of the community, enhancing awareness and cooperation among residents in adhering to HOA guidelines.

Key Features and Benefits:

Intuitive User Interaction: Featuring an 8-inch LCD display with a high-definition resolution of 800 x 1280, the DHI-ASI8213SA-W provides clear and intuitive user interactions, keeping residents informed and in control.

Crystal-Clear Video Quality: Equipped with a 2MP dual-lens CMOS camera and True Wide Dynamic Range (WDR) of 120 dB, this device delivers unparalleled video clarity in various lighting conditions, ensuring accurate identification.

Ample Storage Capacity: With storage capacity for up to 100,000 users, 100,000 faces, 500,000 cards, 50 administrators, and a log of 300,000 records, the DHI-ASI8213SA-W caters to large user bases and ensures efficient management.

Multiple Unlocking Methods: The video access controller offers multiple unlocking methods, including facial detection+ within a distance ranging from 0.98 ft to 9.84 ft, ensuring efficient and reliable entry for residents.

Face Detection+ Technology: With a remarkable 99.9% accuracy rate and an average comparison time of just 0.2 seconds, the DHI-ASI8213SA-W’s Face Detection+ technology combines accuracy and speed for seamless access control.

The product operates on a 12V DC, 2A power supply and offers flexible user management. Users can be enrolled directly at the device through face detection setup or by using the DSS Pro system, ensuring efficiency and convenience.

The product will be available through Dahua’s local distributors starting in November. The manufacturer’s suggested retail price (MSRP) for this video access controller is $1399.99 USD and $1931.99 CAD.

About Dahua Technology USA

Dahua Technology USA Inc. is a subsidiary of Dahua Technology, which is estimated to be the second largest supplier of video security equipment in the world according to the Omdia 2020 Market Share Database. Dahua Technology USA brings high-value, total security solutions to the North American market by focusing on integrity and personal relationships to enhance the customer experience. Dahua Technology’s security solutions, from award-winning cameras to video management software, deliver unparalleled quality, reliability, and stability, providing sales and support throughout the U.S. and Canada.

Contacts

Marketing.usa@dahuatech.com

TORONTO–(BUSINESS WIRE)–The Board of Trustees (the “Board”) of RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it has made refinements to further align executive compensation with unitholder experience. Subsequent to the non-binding advisory say-on-pay resolution receiving 75.97% support at the Trust’s 2023 annual and special meeting of unitholders, the Board and its People, Culture and Compensation Committee (the “Committee”) undertook a thorough review of the Trust’s executive compensation program and conducted an extensive unitholder outreach initiative.

“The Board and Committee sought unitholder feedback on RioCan’s executive compensation program. Through our unitholder outreach initiative, we engaged in meaningful discussions and have taken important steps to address our unitholders’ feedback. These changes will be effective January 1, 2024,” said Jane Marshall, Chair of the Committee. “We would like to extend our sincerest gratitude to the unitholders who took the time to meet with us. We remain committed to ensuring that our executive compensation program continues to link pay with performance and create long-term unitholder value by attracting and retaining talented executives.”

Between July and November, members of the Committee and the Board met with and solicited feedback from RioCan’s largest unitholders. The Committee reached out to the majority of the Trust’s 40 largest unitholders, representing approximately 39% of RioCan’s outstanding units. To date, the Committee has held 16 meetings with unitholders, representing approximately 23.53% of RioCan’s outstanding units. The Board and Committee intend to continue their leading unitholder outreach program. Since its establishment in 2020, Board members have held 71 meetings with unitholders. The outreach program is a critical element of RioCan’s overall investor relations program and demonstrates RioCan’s ongoing commitment to facilitating meaningful communication with its unitholders and its willingness to respond to the feedback of its Unitholders on governance and compensation related issues.

As a result of the outreach program, the Board and Management have committed to refining the Trust’s compensation program, beginning in 2024. Below is a summary of the changes:

• Double trigger Senior Executive REU Plan: RioCan’s Senior Executive REU Plan (the “REU Plan”) will be amended to require a ‘double trigger’ before permitting REUs to vest upon a change of control. This change means that executive REUs will now require both a termination of the executive’s employment and a change of control to trigger vesting which aligns RioCan with equity plan best-practices.
• Cliff vesting for REUs: The REU Plan will be amended such that REUs will vest 100% following a three-year performance cycle. This change puts further emphasis on the creation of long-term unitholder value.
• Modified peer group: The Committee worked with its independent compensation consultant to redevelop RioCan’s peer group for both compensation and performance measurement to replace peers in the utility sector with more business-relevant peers. RioCan will provide enhanced proxy disclosure of the rationale for the selection of the companies in its peer group.
• Increased focus on ESG: Further focus will continue to be put on establishing short- and long-term compensation metrics that are directly linked to achieving the Trust’s environmental objectives, as well as certain key social and governance objectives that the Board determines to be important.
• Enhanced disclosure: RioCan commits to providing enhanced disclosure in its management information circular, including with respect to the different applications of funds from operations in RioCan’s Executive Management Bonus Plan and long-term incentive program and to the individual objectives within each executive’s scorecard.

Additional details will be provided in RioCan’s Management Information Circular prior to the 2024 annual meeting of unitholders. RioCan remains committed to year-round and meaningful engagement with unitholders. The Committee will continue to assess the Trust’s executive compensation program to align with business goals and unitholder interests.

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at September 30, 2023, our portfolio is comprised of 192 properties with an aggregate net leasable area of approximately 33.6 million square feet (at RioCan’s interest) including office, residential rental and 10 development properties. To learn more about us, please visit www.riocan.com.

Contacts

RioCan
Kim Lee

Vice President, Investor Relations

(416) 646-8326