TORONTO–(BUSINESS WIRE)–Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, announced today that it has priced its 2023-SFR1 securitization transaction.

The transaction, involving the issuance and sale of 5 offered classes of fixed-rate certificates with a total face amount of $416.4 million, was priced at a weighted average yield of approximately 5.86% with a term to maturity of approximately 5 years. The transaction reflected strong demand, with subscriptions of 3.5x the offered amount and participation from 26 investors, including four new to Tricon. The transaction proceeds represent 57% of the value of the securitized portfolio which includes 2,116 single-family rental properties within the SFR JV-2 investment vehicle (“SFR JV-2”). The transaction is expected to close on or about July 11, 2023.

The 5.86% weighted average yield represents an attractive cost of financing that is in line with Tricon’s acquisition cap rates for single-family rental homes in the current market environment. The proceeds of the transaction will be used to repay floating rate debt that was temporarily used to fund acquisitions within SFR JV-2, thereby reducing the Company’s floating rate debt exposure by approximately 500 basis points to 21% of total debt from 26% in Q1/23¹.

The offering of certificates is being made through Morgan Stanley & Co. LLC as sole structuring agent, joint bookrunner, and co-lead manager, BofA Securities, Inc. as joint bookrunner and co-lead manager, Deutsche Bank Securities Inc. as joint bookrunner and co-lead manager, Mizuho Securities USA LLC as joint bookrunner and co-lead manager and RBC Capital Markets, LLC as joint bookrunner and co-lead manager. The various classes of offered certificates have been rated on a preliminary basis by Moody’s Investors Service and Kroll Bond Rating Agency.

About Tricon Residential Inc.

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) is an owner and operator of a growing portfolio of approximately 37,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon’s culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.

* * * *

Certain statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These forward-looking statements include the anticipated completion and pricing of any securitization transaction, the availability or anticipated use of any surplus transaction proceeds, and the resultant impact on the Company’s debt profile. Such statements are subject to significant known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Factors that could cause actual results to differ include Tricon’s ability to execute the securitization transaction upon terms acceptable to the Company. Although management believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements for various reasons including but not limited to the assumptions, risks and uncertainties described above. These forward-looking statements reflect current expectations of the Company as at the date of this news release and speak only as at the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.

The certificates will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The certificates will be offered and sold in the United States in accordance with Rule 144A. This press release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of the certificates in any jurisdiction in which such offer, solicitation or sale would be unlawful under the laws of such jurisdiction.

1 Reflects Tricon’s proportionate debt balance.

 

Contacts

For further information:
Wissam Francis

EVP & Chief Financial Officer

Email: IR@triconresidential.com

Wojtek Nowak

Managing Director, Capital Markets

Company’s environmental, social and governance report highlights worldwide strategy to reduce carbon emissions across all scopes, encourage diversity and inclusion, and achieve “Vision Zero” as part of its environmental health and safety program

DENVER–(BUSINESS WIRE)–Vantage Data Centers, a leading global provider of hyperscale data center campuses, today released its second annual Environmental, Social and Governance (ESG) Report showcasing the company’s dedication to meet its high standards for environmental stewardship, social responsibility and ethical governance. Themed “A Global Vision. Locally Adapted.,” the report details Vantage’s progress and achievements towards its goals across the company’s 29 global data center campuses amid a period of rapid growth.

“In 2022, Vantage continued to build on its unprecedented global growth, all while remaining committed to our sustainability, inclusivity and safety goals,” said Chris Yetman, chief operating officer at Vantage Data Centers. “We have a singular global vision for responsibly developing our data center campuses around the globe, a vision that is flexible to adapt to the local communities in which we operate. We’re proud of the progress that we’ve achieved to date and look forward to sharing future results with our customers, investors, employees and all stakeholders.”

In 2021, Vantage used a third party to conduct a materiality assessment that surveyed customers, investors, employees, utility providers, community representatives and local governments about their top ESG priorities. The results of this assessment provided Vantage with the foundation that shaped the goals outlined in the ESG report.

Highlights of Vantage’s 2022 ESG report include:

Environmental Stewardship

• A holistic approach to sustainability: Tackling global environmental and resource challenges while maintaining growth is a complex task. Last year, Vantage broadened its sustainability program to focus on five strategic areas: greenhouse gas (GHG) emissions, energy, water, waste and community.
• Net zero operational carbon emissions by 2030: Vantage is committed to reaching net zero carbon emissions by 2030. In 2022, the company completed its first Scope 3 emissions screening, developed a roadmap with proposed interim reduction targets and continued to refine its data collection methodology. Vantage joined more than 375 companies in signing The Climate Pledge, another strategic step in its ongoing commitment to reduce its environmental impact.
• Leveraging cleaner diesel fuel: In 2022, Vantage made renewable diesel fuel a reality, moving from an exploratory assessment period to implementing Hydrotreated Vegetable Oil (HVO) at its Cardiff campus. Vantage’s use of HVO significantly reduces its greenhouse gas emissions, delivering measurable progress towards lessening its carbon footprint. The company is currently working to expand the use of this biofuel more broadly based on availability and costs per market.

Social Responsibility

• Diverse employee affinity groups: Vantage welcomed more than 385 new team members in 2022. The company strives to make employees feel valued and heard across the globe, evidenced by its growing list of affinity groups. In 2022, Vantage added the Black Employee Network, the Mental Health and Wellbeing Network, the Muslim Employee Association and the Working Parents and Caregivers Network, alongside its existing Women’s Leadership Forum, to offer communities where employees who share a common identity or interest can connect and find support.
• Fostering the next generation of leaders: Vantage introduced a new Mentor Program with support from its Justice, Equity, Diversity and Inclusion (JEDI) Council to enable senior leaders to mentor junior team members. In addition, the voluntary JEDI Council grew by 85%, serving as a testament to the importance of DE&I initiatives.
• Giving back: Vantage is dedicated to supporting the communities in which it operates. Throughout the year, Vantage and its employees engaged with its local communities through service events, donating financial support to earthquake relief for Syria and Turkey and partnering with AFCOM to offer an intern program.

Ethical Governance

• Proactive governance and risk protections: To gain a deeper understanding of the risks associated with vendors, Vantage launched a third-party risk management (TPRM) program. Coupled with Vantage’s Executive Risk Council (ERC), which meets quarterly to identify potential risks and opportunities across five key functions critical to its strategic business goals, Vantage is making risk assessment and management a global priority.
• Global public policy: With differing laws, regulations and policies impacting energy, sustainability, land ownership, zoning, design aesthetics and taxes, public policy is critical to ensure optimal business outcomes. Last year, Vantage established a new public policy team and company-wide steering committee to advance the company’s development goals and lead community engagements.
• Prioritizing safety: With nearly four times as many construction hours logged in 2022 compared to 2021, Vantage lowered its Total Recordable Incident Rate (TRIR) from .31 to .28. The company also doubled down on its commitment to safety, launching its Vision Zero program. The “zero” in Vision Zero is the quest for ultimate safety on the job: zero incidents.

For additional information about these key insights and more, download the full 2022 ESG report here.

About Vantage Data Centers

Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.

For more information, visit http://www.vantage-dc.com.

Contacts

Mark Freeman

Vantage Data Centers

mfreeman@vantage-dc.com
+1-202-680-4243

Robin Bectel

REQ for Vantage Data Centers

vdc@req.co
+1-​202-936-6335

The new Managing Director role creates added value for stakeholders on both sides of the lending and investing equation

CALGARY, Alberta–(BUSINESS WIRE)–Today, Alberta-based real estate finance firm and investment manager, KV Capital, announced the opening of its Calgary office and the appointment of Michael Hoffman as Managing Director, Calgary for its Commercial Real Estate Finance division. Alberta achieved the second highest provincial year-over-year real GDP growth in 2022 and KV Capital believes the province is poised to continue this strong economic momentum. The opening of a Calgary office represents KV Capital’s belief in—and commitment to—the long-term prospects of Calgary and the province.

“The Calgary commercial real estate market is growing rapidly, and we are thrilled to expand our capacity to better serve our clients and partners doing business there,” says KV Capital’s CEO, Aleem Virani. “The relentless pursuit of a better stakeholder experience is a key driver of KV Capital’s, and we could not imagine a better leader to carry this vision in Calgary than Michael. He is widely respected for his deep expertise and business acumen. His leadership, market intelligence, and skill set greatly enhances our team’s capabilities.”

“This is a unique time—both in the commercial real estate industry and in the Alberta market as a whole,” says Calgary Commercial Real Estate Finance Managing Director, Michael Hoffman. “In addition to our strong economic growth, Alberta reached the highest provincial year-over-year population growth rate in Canada in 2022, which presents an important opportunity to support the creation of high-quality real estate developments to drive this province forward. I look forward to collaborating with the entire KV Capital team to support these developments and help make this next chapter for Alberta a bright one.”

Hoffman brings over 20 years of experience in the finance and commercial real estate lending industries to his role at KV Capital. His proven track record, leadership skills, and creative perspective for finding solutions which best suit a client’s capital needs will continue driving the firm forward.

“We are delighted to welcome Michael as the Managing Director of our Calgary office, especially at this pivotal moment of growth in the market,” notes Marc Prefontaine, KV Capital’s President, Commercial Real Estate Finance. “Michael’s reputation is impeccable, and his expertise, ethics, and ambition directly align with KV Capital. Michael will be a tremendous asset in creating value for our clients, partners, and investors.”

About KV Capital

Founded in 2006 and proudly headquartered in Alberta, KV Capital is an alternative investment manager, specializing in a diverse range of assets such as real estate debt, real estate development, and private operating businesses.

With +$1B funded in investments across various asset classes and $350M in assets under management, KV Capital’s mission is to provide the capital, creativity, and speed necessary for clients to secure the financing they need, when they need it. KV Capital offers a comprehensive suite of expert debt and equity solutions, serving the entire real estate capital stack.

Find KV Capital Online

Website: kvcapital.ca
LinkedIn: KV Capital

Contacts

Vanessa Tracy-Roth

Marketing Manager, KV Capital

vanessa.tracy-roth@kvcapital.ca | 780.999.5727

LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Trust VI, Inc. (“SST VI”), a publicly registered non-traded real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of six self-storage properties in the Greater Toronto Area, including Burlington, Hamilton, Vaughan, Toronto and Mississauga. The six properties feature approximately 5,500 units and approximately 524,000 net rentable square feet.

The Class A properties were recently constructed or renovated and are located in desirable high-growth areas with strong demographics, solid household incomes and populations, and excellent visibility. With their prime locations and convenient accessibility, this acquisition aligns with SST VI’s commitment to offer a wide range of storage options to meet the unique requirements of residents and businesses while providing value to stockholders.

“This strategic acquisition is a testament to our commitment to growth and innovation and represents a significant step forward in our mission to revolutionize the self-storage landscape across North America,” said H. Michael Schwartz, CEO and President of SST VI. “Each of these Class A buildings is a tremendous asset and represents a unique opportunity to deliver value for our stockholders.”

The facilities will be branded under the SmartStop® Self Storage banner and will utilize cutting-edge technology, coupled with exceptional customer service, to ensure a seamless and hassle-free storage experience for all its valued customers.

About Strategic Storage Trust VI, Inc. (SST VI):

SST VI is a Maryland corporation that elected to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in income-producing and growth self-storage facilities and related self-storage real estate investments in the United States and Canada. As of June 20, 2023, SST VI has a portfolio of 13 operating properties in the United States comprising approximately 8,660 units and 1,005,000 rentable square feet (including parking); 11 properties with approximately 9,800 units and 1,050,000 rentable square feet (including parking) in Canada, joint venture interests in three development properties in two Canadian provinces (Ontario and Quebec) and one wholly owned development property in Ontario.

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

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 500 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 20, 2023, SmartStop has an owned or managed portfolio of 192 operating properties in 22 states and Canada, comprising approximately 135,000 units and 15.2 million rentable square feet. SmartStop and its affiliates own or manage 33 operating self-storage properties in Canada, which total approximately 28,600 units and 3.0 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

Town Square amenities include Latitude Bar & Chill restaurant, Paradise Pool & more

PANAMA CITY BEACH, Fla.–(BUSINESS WIRE)–Latitude Margaritaville Watersound development partners have announced the opening of the community’s Latitude Town Square amenities. Latitude Margaritaville Watersound is located on Northwest Florida’s gorgeous Emerald Coast near Panama City Beach and the Scenic Highway 30A corridor and is being developed in a dynamic partnership between master developer Minto Communities USA (“Minto”), global lifestyle brand Margaritaville Holdings, and The St. Joe Company (NYSE: JOE) (“St. Joe”).

The new Latitude Margaritaville Watersound Town Square is situated on the Intracoastal Waterway and features a terraced amphitheater, thatched roof bandshell with full-size concert stage and jumbo screen for concerts and movies. A special recessed dance floor provides a little give and spring for dancing. Dining options include a two-story Latitude Bar & Chill restaurant with rooftop Overlook Bar, all providing stunning views of the Intracoastal Waterway.

The lagoon-style Paradise Pool with beach-like gradual entry features an expansive deck and shaded Tiki Island. For indoor swimming, the state-of-the-art Fins Up! Fitness Center includes a lap pool and spa, in addition to workout equipment, spin room, fitness classes and a robust wellness program. Tennis and pickleball courts have lighting for night play, along with bocce ball courts and an outdoor games area with cornhole, billiards and a putting green. Additionally, the community now features a Barkaritaville Dog Park where canine residents can romp and play. Future planned amenities include a Workin’ N’ Playin’ Center with the Last Mango Theater, Hangar Workshop for golf cart tune ups, and Barkaritaville Pet Spa.

Latitude Margaritaville Watersound is the third of the incredibly popular, award-winning Latitude Margaritaville communities, and the first to be developed in partnership with St. Joe. The first two communities by Minto and Margaritaville are located in Daytona Beach, Florida and near Hilton Head, South Carolina. Minto and Margaritaville plan additional Latitude Margaritaville communities for Texas, as well as other popular destinations.

Latitude Margaritaville’s all-new approach to active adult living has captured the imagination of today’s vibrant 55 and better home buyers who are growing older…but not up, and home sales have exceeded all expectations.

The Latitude Margaritaville Watersound sales center and model homes are open daily. Four distinct home collections — the Conch Cottage Collection, Caribbean Villas Collection, and Beach and Island Collections of single-family homes — capture the “no worries” tropical vibe that defines Latitude Margaritaville. Floor plans range from 1,210 to 2,568 square feet under air with pricing from the low $300s.

Latitude Margaritaville Watersound is situated in the heart of St. Joe’s vast Bay-Walton Sector Plan that encompasses approximately 110,500 acres with approximately 15 miles of frontage on the Intracoastal Waterway. Just a short drive from the famed Scenic Highway 30A corridor with its beautiful white-sand beaches, this region is the embodiment of the relaxed, beachy vibe that is at the heart of the Latitude Margaritaville lifestyle.

In addition to the many Latitude Margaritaville amenities, St. Joe has plans for a future full-service public marina and Watersound West Bay Center, a commercial village adjacent to the community. St. Joe is also developing a health care campus, along with Tallahassee Memorial Healthcare and Florida State University (FSU) College of Medicine, located just minutes from Latitude Margaritaville Watersound. The healthcare campus is located on an 87-acre parcel near the intersection of State Highway 79 and Phillip Griffitts Sr. Parkway. In addition to the planned 100-bed inpatient facility, FSU intends to utilize the campus for research focused on successful aging and senior living technology. Phase 1 is currently under construction.

The Latitude Margaritaville Watersound sales center is located at 9201 Highway 79, Panama City Beach, Florida. Model homes are open daily, Monday through Saturday, 9 a.m. to 5 p.m.; Sunday 11 a.m. to 5 p.m. Central. For information, call 866-524-0144.

For more information on Latitude Margaritaville and to sign up to receive regular development updates, visit www.LatitudeMargaritaville.com. Follow Latitude Margaritaville on Facebook at www.facebook.com/LatitudeMargaritaville and on Instagram and Twitter at @LatitudeMville.

NOTE TO EDITOR: Please see link to Latitude Margaritaville Watersound images and captions below.

Image credits: Courtesy Minto Communities.

https://www.dropbox.com/scl/fo/1xnemrgcz7fcev6tqv28b/h?dl=0&rlkey=p0nfhnnjij57yrvabrzioewef

Important Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding the anticipated size of the initial phase of Latitude Margaritaville Watersound, expectations regarding specific amenities and other features, plans for developments in the adjacent communities and the prospective interest in the Latitude Margaritaville Watersound. These forward-looking statements are qualified in their entirety by cautionary statements and risk factors set forth in St. Joe’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2022 and subsequent current report filings, as well as the following: (1) the ability of Minto, Margaritaville Holdings and St. Joe to continue to develop and successfully complete the Latitude Margaritaville Watersound community and other developments in adjacent communities on the expected timeline, or at all, and (2) the continued interest of prospective buyers of Latitude Margaritaville Watersound homes.

About Latitude Margaritaville

Latitude Margaritaville communities are active adult developments built by master developer Minto Communities under license from global lifestyle brand Margaritaville Holdings. Offering resort-style amenities, Latitude Margaritaville is the ideal destination for those looking to live the Margaritaville lifestyle as they grow older, but not up. The communities feature a resort-style pool, fitness center, live entertainment, signature Margaritaville food and beverage concepts, arts and learning programs and more. Ranked the nation’s most popular active adult community of 2018 by 55Places.com and 2019’s Best 55+ Community of the Year by the National Association of Home Builders, Latitude Margaritaville communities are now open in Daytona Beach, Florida, Hilton Head, South Carolina and Watersound, Florida located on the Emerald Coast in Florida’s Panhandle. All three Latitude Margaritaville communities were recognized among the top 25 master-planned communities in the U.S. for 2022 on both the John Burns Real Estate Consulting list of top 50 master-planned communities and the RCLCO Real Estate Consulting list of top 50 master-planned communities. Additional Latitude Margaritaville communities are planned for Texas as well as other popular destinations.

About St. Joe

The St. Joe Company is a real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures. St. Joe has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about the Company can be found on its website at www.joe.com. On a regular basis, the Company releases a video showing progress on projects in development or under construction. See https://www.joe.com/video-gallery for more information.

©2023 The St Joe Company. “St. Joe®”, “JOE®”, the “Taking Flight” Design®, “St. Joe (and Taking Flight Design,)®” are registered service marks of The St. Joe Company or its affiliates.

Contacts

Media Contacts:
Paula Robertson (for Minto)

Paula Robertson & Associates

239-454-1454

Paula@prprUSA.com

Marek Bakun (Investor Relations for The St. Joe Company)

866-417-7132

Marek.Bakun@joe.com

David Demarest (Public Relations for The St. Joe Company)

850-213-5137

David.Demarest@joe.com

Caroline Andrew (for Margaritaville)

Finn Partners

646-373-2899

caroline.andrew@finnpartners.com

25-year Cintas employee-partner was presented his brand-new heavy-duty truck at his Decatur location today

DECATUR, Ga.–(BUSINESS WIRE)–$CTAS–On Thursday morning, Steve Rosa – a Covington, Ga., resident and Cintas Corporation (Nasdaq: CTAS) Service Sales Representative (SSR) – received the keys to his brand-new Chevrolet Silverado Carhartt Edition heavy-duty truck that he won in late April through a customer awareness campaign from Cintas and Carhartt Company Gear™.

And that truck was delivered to Rosa at his Decatur, Ga., Cintas location and presented to him in a ceremony on Thursday morning.

>> Media Use Images via Dropbox

• Truck Presentation in Decatur: Photos | Videos
  • Video assets include event b-roll, ceremony sound bites, post-event interviews
• April’s Grand-Prize Event in Cincinnati: Steve Rosa | General Event

Excited to take his wife, friends, coworkers and customers on rides in his new truck, Rosa noted, “As a 25-year employee-partner, you couldn’t ask for anything better than having this experience. Just the fact that Cintas does what they do (with prizes like this for us) and it’s not the first time they’ve done this for SSRs, it’s awesome.”

After the presentation, Rosa was planning to drive the truck to several of his most supportive customers in the area to thank them for their support during the awareness campaign.

“There is no one that embodies our Cintas culture more than Steve,” said Chris Wheeler, General Manager of Cintas’ Decatur Rental location. “You always want something like this to happen to a great partner. He’s a role model for our partners and the passion he has for his customers is just unmatched. And so for someone like Steve to be the recipient of this amazing truck as a reward for doing his job the way he does? It’s just an awesome thing for him and our company.”

Also of note, after winning the truck in April, Rosa gifted his old vehicle to a Cintas coworker who had recently totaled his own car in an accident. That coworker drove Rosa and his wife Betty – a 9-year Cintas employee-partner, also at the Decatur Rental location – to work on Thursday morning since they would have the truck to drive home at the end of the day.

During the Cintas-Carhartt customer awareness campaign, each Cintas SSR in the U.S. and Canada had the opportunity to participate in the Cintas-Carhartt customer awareness program, which ran January through December 2022. Those SSRs who achieved a specified threshold of Carhartt Company Gear direct sales from the co-branded Cintas Sourcebook earned an entry for a monthly drawing to randomly select 12 contest finalists. The 12 randomly selected finalists were then flown into the Cincinnati area for the two-day, grand-prize event in late April at Cintas’ corporate headquarters in Mason, Ohio.

During the trip, finalists received $1,000 for an exclusive shopping event at the Cincinnati Carhartt store, a custom-embroidered Carhartt Legacy Gear Bag, dinner and breakfast with Cintas and Carhartt executives, a tour of Cintas’ company headquarters, and meet-and-greet opportunities with Cintas President and CEO Todd Schneider and Carhartt President and COO Linda Hubbard.

At the conclusion of the grand-prize ceremony, each finalist selected one box among 12 on a display on stage – one of which contained the key to the grand prize: the brand-new Chevrolet Silverado Carhartt Edition heavy-duty truck. After a countdown, the finalists opened their boxes together and Rosa had drawn the winning box and won the new truck.

About Cintas Corporation

Cintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe, and looking their best. With offerings including uniforms, mats, mops, towels, restroom supplies, workplace water services, first aid, and safety products, eye-wash stations, safety training, fire extinguishers, sprinkler systems and alarm service, Cintas helps customers get Ready for the Workday®. The company is also the creator of the Total Clean Program™ – a first-of-its-kind service that includes scheduled delivery of essential cleaning supplies, hygienically clean laundering, and sanitizing and disinfecting products and services. 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

Lizz Summers, Cintas Director of Corporate Affairs | summerse2@cintas.com, 617-571-2219

TORONTO–(BUSINESS WIRE)–DREAM UNLIMITED CORP. (TSX:DRM) (“Dream”) today announced that Dream and its joint actors have sold an aggregate of 7,608,897 REIT Units, Series A (“Units”) of Dream Office REIT (TSX: D.UN) (“Dream Office”) at a price of $15.50 per Unit (the “Purchase Price”) pursuant to Dream Office’s substantial issuer bid to purchase for cancellation up to 12,500,000 of its outstanding Units at the Purchase Price (the “Offer”), resulting in aggregate cash proceeds to Dream and its joint actors of $117,937.903.50.

Earlier today, Dream Office announced the final results of the Offer. Holders of LP Class B Units, Series 1 (“Exchangeable Units”) of Dream Office LP, a subsidiary of Dream Office, were permitted to participate in the Offer by tendering their Exchangeable Units on an as-exchanged basis. The Exchangeable Units are indirectly exchangeable on a one-for-one basis for Units (and are accompanied by an equivalent number of Special Trust Units of Dream Office entitling the holder to one vote for each Special Trust Unit at meetings of unitholders of Dream Office).

Prior to the completion of the Offer, Dream and its joint actors had beneficial ownership of, or control or direction over 14,722,387 Units and 5,233,823 Exchangeable Units, representing approximately 39.63% of the issued and outstanding Units on a fully exchanged basis (assuming the exchange of all outstanding Exchangeable Units that are exchangeable into Units) prior to completion of the Offer. Immediately following the completion of the Offer, Dream and its joint actors own, or have control or direction over, an aggregate of 7,113,490 Units and 5,233,823 Exchangeable Units, representing approximately 32.62% of the issued and outstanding Units on a fully exchanged basis (assuming the exchange of all outstanding Exchangeable Units that are exchangeable into Units) following completion of the Offer.

Dream and its joint actors disposed of their Units pursuant to the Offer for investment purposes. Dream and its joint actors intend to evaluate their investments in Units on a continuing basis and either may acquire Units or decrease their holdings of Units in the future. Dream is indirectly controlled by Mr. Michael Cooper, President and Chief Responsible Officer of Dream. Dream provides strategic advice to Dream Office pursuant to a management services agreement. Mr. Cooper also serves as the Chief Executive Officer and Chair of the Board of Trustees of Dream Office. Mr. Cooper and Dream have no current intention relating to their investment in Dream Office, but depending on market conditions, general economic and industry conditions, Dream Office’s business and financial condition and/or other relevant factors, may in the future form an intention, with respect to one or more of the transactions or matters referred to above.

This press release is being issued pursuant to the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103”) of the Canadian Securities Administrators. A copy of the report to be filed by Dream in connection with the transactions described herein will be available on Dream Office’s SEDAR profile at www.sedar.com, and can also be obtained by contacting Mr. Robert Hughes, General Counsel, Dream Unlimited Corp. at 416-365-3535.

Dream and Dream Office’s head office is located at Suite 301, State Street Financial Centre, 30 Adelaide Street East, Toronto, Ontario M5C 3H1.

About Dream Unlimited

Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $24 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities.

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation, including, but not limited to, statements regarding Dream and its joint actors’ investment intentions with respect to Dream Office and the acquisition or disposition of Units by Dream and its joint actors in the future. 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 Dream’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These assumptions include, but are not limited to: the nature of development lands held and the development potential of such lands, interest rates and inflation remaining in line with management expectations, our ability to bring new developments to market, anticipated positive general economic and business conditions, including low unemployment and interest rates, positive net migration, oil and gas commodity prices, our business strategy, including geographic focus, anticipated sales volumes, performance of our underlying business segments and conditions in the Western Canada land and housing markets. Risks and uncertainties include, but are not limited to, general and local economic and business conditions, the impact of the COVID-19 pandemic on Dream and uncertainties surrounding the COVID-19 pandemic, including government measures to contain the COVID-19 pandemic employment levels, risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, international sanctions and the disruption of movement of goods and services across jurisdictions, inflation or stagflation, regulatory risks, mortgage and interest rates and regulations, risks related to a potential economic slowdown in certain of the jurisdictions in which we operate and the effect inflation and any such economic slowdown may have on market conditions and lease rates, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance on key clients and personnel and competition. All forward-looking information in this press release speaks as of June 22, 2023. Dream does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com).

Contacts

For further information, please contact:

Dream Unlimited Corp.

Deb Starkman

Chief Financial Officer

(416) 365-4124

dstarkman@dream.ca

Kim Lefever

Director, Investor Relations

(416) 365-6339

klefever@dream.ca

The company doubles down on its commitment to exceptional client experiences with organizational alignment around new people, processes and technologies

CARY, N.C.–(BUSINESS WIRE)–e-Emphasys Technologies Inc., a global enterprise software provider for the heavy equipment and industrial machinery industry, today announced a series of new investments to bolster ongoing customer advocacy, engagement and training to maximize ROI. In addition to recently naming Marc Tedeschi as Vice President of Customer Success, the company has added other new team members with decades of industry expertise to the department. e-Emphasys also has adopted a brand-centric strategy to build dealer communities and deployed new customer service and project management tools for best practices in meeting client needs.

“We exist to support our clients in helping to literally build and deliver tangible value across the globe, so we want to invest in the best people, processes and technologies to remove friction and support their success,” said Jeff Hart, President and CEO of e-Emphasys. “A one-size-fits-all approach doesn’t work in customer service and support because each client has its own benchmark for success. We’re dedicated to helping every client be more efficient and profitable by providing the right technology and associated services to remove their pain points and be prepared to address both future challenges and opportunities.”

e-Emphasys has made the following investments to ensure client success:

• Addition of new team members with decades of dealership and technology experience, bringing the global Customer Success team to nearly 20. Another 90 associates provide customer service and support from global support centers, with the primary one located in its Cary headquarters.
• Expansion of dealer community groups with a tailored approach to OEM/equipment brand dealerships that promotes best practices and deeper product adoption and optimized use.
• The launch of new software that provides an overall health score for each client, so team members have real-time insight into each engagement and receive actionable alerts to address needs quickly.
• Implementation of a new CRM system for information about client satisfaction, product design, user experience and functionality improvements.

“Whenever we engage with a new or existing customer, we work to understand what each of their finish lines looks like, and most important, we know how to get them across smoothly,” said Tedeschi. “Greater access to our own critical data intelligence shows us ways to improve each unique customer experience. New tools and opportunities to meaningfully engage will strengthen every client relationship, so we’re always viewed as a trusted partner in realizing their key objectives.”

Now with two industry-leading software suites supporting more than 4,200 rooftops, e-Emphasys will host individual user conferences to best serve each customer base. The Evolve User Conference for those with e-Emphasys ERP will be held Sept. 11-14 in Nashville, Tenn. The IntelliDealer user conference will be held in early 2024 and will be announced once the dates and location are confirmed. These events are opportunities for clients to discuss the state of the industry and specific vertical concerns, learn from their peers, gain knowledge about best practices, and see how to maximize use of their systems to produce the desired business results.

About e-Emphasys Technologies

e-Emphasys Technologies Inc. is a global provider of enterprise software for the heavy equipment and industrial machinery industry. Our market-leading solutions, e-Emphasys ERP and IntelliDealer, offer dealerships and rental companies across agriculture, construction, heavy truck and material handling modern information technology to optimize their business operations. Designed to meet the needs of these specific clients, our software platforms increase efficiency, customer satisfaction and profitability. We’re proud to deliver innovations that ultimately equip the world to run every day. Learn more at www.e-emphasys.com or follow us on LinkedIn.

Contacts

Media Contact:
Lisa Williams

press@e-emhasys.com
+1 339. 788. 0067

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”) announced today that its distribution declared for the month of June 2023 is $0.0300 per Trust unit, equal to $0.3600 per Trust unit on an annualized basis. Payment will be made on or about July 17, 2023, to unitholders of record on June 30, 2023.

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) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

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

Contacts

Investor Relations

investorinfo@interrentreit.com
www.interrentreit.com

VANCOUVER, British Columbia–(BUSINESS WIRE)–Global construction consultancy firm Linesight today announced the official opening of its Vancouver office to support its growing client base in the region in key sectors including data centers, life sciences, high-tech industrial and manufacturing.

Linesight is an industry leader in the delivery of construction consultancy services to data centers, and has completed more than 408 projects in 30 countries across six continents, valued at more than $76 billion globally. Data center providers the world over engage with Linesight because of its deep knowledge and expertise in the sector. Linesight is currently supporting a number of significant data center projects in the region and advising on a revolutionary carbon-neutral distillery project in Ontario.

“It was essential for us to have a hub for multi-sectoral work in Canada to support our extensive business growth in this region, and Vancouver offered everything we needed in terms of location, talent pool, and infrastructure,” said Padraig Leahy, Director at Linesight.

Linesight’s expansion is timely with a general positive outlook for the construction sector in Canada. Forecasts indicate that the Canadian industrial construction sector will grow by 14.9% in 2023. As the national government works to establish Canada as an industrial hub, investment in and permits for construction have been on the rise. Investors and policy leaders have also contributed to expected growth in life sciences construction.

The Vancouver office will be headed up by Jonathan Scully-Lane, an experienced leader with deep sectoral experience. Jonathan has previously held roles as a Quantity Surveyor, Commercial Manager, Contracts Manager, and Cost Manager, with expertise in cost planning, cost reporting, and procurement.

“I’m excited to move back to Vancouver, where I previously made my home for five years. My family loves this city and our team in British Columbia is ready to spearhead the Linesight push into Canada. I’m looking forward to building on the relationships established from my previous time in Vancouver to further Linesight’s position as a global leader,” said Scully-Lane.

About Linesight

Linesight is a multinational consultancy firm with over 45 years’ experience, providing cost, schedule, program, and project management services to a multitude of sectors including Life Sciences, Commercial, Data Centers, High-Tech Industrial, Residential, Hospitality, Healthcare, and Retail. Linesight’s specialist project teams, each with specific skills and experience, provide faster project delivery, greater cost efficiency, and maximum value for money for their clients. For further information, please visit http://www.linesight.com.

Contacts

For Linesight
Cameron Thomas

Media Relations on behalf of Linesight Americas

(416) 660-9801

cameron@verbfactory.com

TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today that the Board of Trustees has declared a distribution for the month of June 2023 of U.S.$0.072 per class U unit of the REIT (“Class U Units”), or U.S.$0.864 on an annualized basis.

Holders of Class U Units may elect to receive their distribution in Canadian dollars and should contact their broker to make such an election.

Holders of class A units of the REIT (“Class A Units”) will receive a distribution equal to the Canadian dollar equivalent (based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution) of U.S.$0.072 per Class A Unit, unless the unitholder has elected to receive distributions in U.S. dollars. Holders of class I units of the REIT (“Class I Units”) will receive a distribution of U.S.$0.072 per Class I Unit, unless the unitholder has elected to receive distributions in Canadian dollars. Holders of units of subsidiaries of the REIT that are exchangeable into Class U Units (“Exchangeable Units”) will receive a distribution of U.S.$0.072 per unit.

If a holder of Class U Units or Class I Units elects to receive distributions in Canadian dollars, the holder will receive the Canadian dollar equivalent amount of the distribution being paid on the Class U Units or Class I Units, as applicable, based on the U.S./Canadian dollar exchange rate at the time of payment of the distribution.

Distributions on all unit classes of the REIT, and distributions on Exchangeable Units, will be payable on July 17, 2023 to unitholders of record as of the close of business on June 30, 2023.

About Slate Grocery REIT (TSX: SGR.U / SGR.UN)

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $2.4 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com to learn more about the REIT.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

Forward-Looking Statements

Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations.

Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of the REIT with securities regulators.

SGR-Dist

Contacts

For Further Information
Investor Relations

+1 416 644 4264

ir@slateam.com

70% of respondents look to technology to help with building, renovation and maintenance projects

CALGARY, Alberta–(BUSINESS WIRE)–#AI—IrisCX, the smart video platform for virtual product selection, DIY setup, and support today announced the results of a survey that confirms the virtual customer support revolution with a human touch is here. The survey of 1,000 American adults was conducted by Propeller Research in April 2023.

“Every American has experienced a home-related issue and needs expert help. Yet, the experts they hire are still using antiquated processes,” said Guillermo Salazar, co-founder and CEO of IrisCX. “Nearly seven in 10 participants noted that they specifically contacted an in-person contractor for support, but what 73% really want is an expert consultation with the convenience of digital. The future is smart video consultation solutions with home product and service experts.”

People inherently trust experts, and they rely on those experts to validate their product and service selection decisions:

• 85% said talking to an expert makes them feel more confident
• 84% are more likely to make a purchasing decision stemming from expert advice
• 81% feel influenced by speaking to home experts

Consumers’ preferred way of receiving information and service is shifting. As the world continues to become more digital, people expect to do things virtually, including getting quotes for home product purchases, maintenance and improvement. Virtual experiences allow consumers to get answers from experts in real time without having to make arrangements to meet someone in person.

Increasingly, digital natives especially want instant access to experts versus waiting for days or weeks for an in-home visit. In fact, 63% said they have had to miss work or rearrange their schedule to accommodate an in-person contractor visit. And, 68% expect their home-related issue to be fixed in three hours or less.

The most demanding groups were Gen Z and Millennials who were born digital. More than 15% of them expect an issue to be resolved within an hour. Gen Z also wants to avoid unnecessary time away from work because they believe they are more dispensable than people from older generations because members of Gen Z have less work experience and expertise.

When it comes to purchases and projects around the home, the most successful companies will offer a virtual consultation and service option that provides expert assistance and the convenience of digital technologies. Seven in 10 respondents are interested in using virtual assistant technology to help with building, renovation and maintenance projects, and 61% are using technology to solve home-related problems.

“Seeing is believing, and consumers often have a hard time seeing,” said Sam Maglio, professor of consumer psychology at the University of Toronto. “They can’t envision how something will look in their home until it gets there. They struggle to translate verbal descriptions into a clear mental image. Immersive video takes out all the guesswork. It leaves consumers with a concrete sense of where things stand and what to do next.”

The top two perceived benefits of virtual assistants are higher efficiency and greater accessibility. Perhaps that’s why 68% said they would at least double their DIY home projects if there was a virtual platform to streamline the process. This is true across generations, but 55% of those over 65 noted their DIY projects would largely stay the same.

“People want the personalization and expertise that comes from a human-to-human interaction when they are making decisions for their home, particularly complex decisions they might have to live with for a while,” said Salazar. “At the same time, they want the convenience that comes from digital interaction. Technologies such as video, AI, augmented reality and machine learning can provide consumers with hyperpersonalized recommendations and support when coupled with the knowledge of a product or service expert. In fact, people with such experiences tend to buy more and keep their product rather than return it. They also become loyal to brands that provide this type of interaction.”

Follow us

Twitter: @iriscxglobal
LinkedIn: https://www.linkedin.com/company/iriscx/

About IrisCX

IrisCX is a leading SaaS company that is focused on providing personalized visual customer experiences for consumers to make product purchasing decisions, assemble products in their home and receive customer support. IrisCX’s smart video technology connects consumers anywhere to real-time expert help instead of waiting for in-person sales or technical assistance. Brands experience increased customer loyalty, reduced cost of customer and technical support, and a decrease in product returns. Powered by computer vision, conversational intelligence and machine learning, IrisCX can provide both step-by-step instructions for self-guided use, and live sessions with company experts. Founded in 2018, IrisCX is headquartered in Calgary and privately held, with operations across Canada. For more information, please visit https://iriscx.com.

Contacts

Grant Zehnder

PRforIrisCX@bospar.com
440.714.7958