CALGARY, Alberta–(BUSINESS WIRE)–Zenbase, a leader in flexible rent payments, today announced that it has secured $4.1 million in seed funding led by Global Founders Capital. With this seed round, Zenbase will expand beyond Alberta, Manitoba, and Saskatchewan into Ontario, British Columbia and the Maritimes.

Zenbase enables the most flexible rent payments ever and delivers rent day bliss on the first of the month by allowing residents to split their monthly rent payments. They can pay on a personalized rent payment schedule reducing their financial stress and improving resident satisfaction. Zenbase partners with property management companies to increase on-time rent collections and eliminate operational overhead.

Global Founders Capital (GNC) led the funding with other investors contributing, including Garage Capital and N49P.

Since Zenbase launched, it has saved more than $700 at an annualized rate per resident by having them avoid overdraft and late fees. In addition to the rent product, more than 40% of Zenbase members have also used its fee-free cash advance service to cover utilities, groceries and gas.

Koray Can Oztekin, CEO and Founder of Zenbase, said: “It’s expensive to be poor with late rent payments costing a resident as high as $150 each time. We are leveling the playing field by giving Canadians the flexibility that they need without getting penalized. We pay a resident’s rent in full on the first of the month, eliminating late rent payments for property managers. The resident then has 30 days to complete their rent payments with us and can align them with their paydays if they like. It’s a win:win for the residents and property managers.”

Alexander Mcisaac, Partner, Global Founders Capital, said: “More than 50% of Canadians are living paycheck to paycheck and housing stability is crucial for them to achieve financial health. Zenbase delivers financial solutions to these communities helping tenants save money and increase financial security. Following a nationwide increase in the cost of living and rent hikes, their platform is more needed than ever.”

About Zenbase

Zenbase, a leader in flexible rent payments, is committed to economic inclusion that fosters financial empowerment for renters. Our solutions improve the financial wellness of renters while improving operational efficiency for property managers. Rent is usually due on the 1st of the month but that doesn’t align with most people’s bi-monthly pay cycle. We’ve fixed that misalignment and provide other financial tools to help level the playing field. Learn more: https://myzenbase.com/

Contacts

Zenbase Press:

Philipp Postehovsky

philipp@myzenbase.com
604-657-2775

 

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Westphalia Dev. Corp. (the “Corporation”) announced today its results for the first quarter ended March 31, 2022. The Corporation was formed in March 2012, for the development of a 310-acre Westphalia property located in Prince George’s County, Maryland, United States.

Development and Sales

The key development and sales activities of the Corporation in the first quarter ending March 31, 2022, were:

• The general business plan for the Westphalia development was updated to incorporate feedback from the Prince George’s County surrounding community, city and state officials as well as potential buyers.

• Major infrastructure development is continuing including roads, storm water and sewer utilities leading into and through the Master Plan using two tax incremental financing (“TIF”) funded projects.

• A planning effort has been initiated aimed at revising the Preliminary Plat and Conceptual Development Plan that will take place throughout the remainder of this year and into 2023, ahead of closing on pending sales transactions with the developer of the proposed last mile distribution buildings.

• The Corporation is engaged in discussions with prospective builders and developers regarding the purchase of fully engineered lots with the goal to adhere to the business plan modification. Final commitments will be deferred until the plan has been advanced through the regulatory process and is closer to approval.

• The Westphalia Town Center re-planning is in process to incorporate more residential units alongside retail space to accommodate growth in the area. A cohesive mixed-use plan for the retail core of the Master Plan is underway to complement the planned industrial space in the westernmost parcels. Engineering plans that require application submittals to regulatory and County agencies will begin in the second quarter 2022.

Financial Results

• The general business plan modification made during the first quarter 2022 included changes to defer additional land sales until after the re-planning is complete; therefore, there was no revenue recognized for the quarter.

• In January 2022, the Corporation secured a US$3.6 million operating expense loan from its lender, WWMN, LLC. After the end of the first quarter 2022, the senior loan, including the January 2022 operating expense advance, was re-negotiated with WWMN, LLC, for an aggregate loan amount of US$44.5 million with interest at 12% and a maturity date of June 30, 2023, with the option to extend an additional year.

• Operating expenses for this quarter remained consistent with Q12021.

The Corporation’s financial statements and management’s discussion and analysis for the first quarter ended March 31, 2022, are available under the Corporation’s SEDAR profile at www.sedar.com.

Additional Information

The Corporation is managed by Walton Global Investments Ltd. (“Walton Global”) and the development of the project is managed by Walton Development & Management (USA), Inc., both of which are members of the Walton group of companies (“Walton”).

Walton Global is a privately-owned, leading land asset management and global real estate investment company that concentrates on the research, acquisition, administration, planning, and development of land. With more than 43 years of experience, Walton has a proven track record of administering land investment projects within the fastest growing metropolitan areas in North America. The company manages and administers US$3.6 billion in assets on behalf of its global investors located in 73 countries, builders and developers and industry partners. Walton has more than 97,000 acres of land under ownership, management and administration in the United States and Canada with business lines ranging from exit-focused pre-development land investments, land financing programs and build-to-rent. For more information visit walton.com.

This news release, required by Canadian laws, does not constitute an offer of securities, and is not for distribution or dissemination outside Canada. This news release contains forward looking information, and actual future results may differ from what is disclosed in this news release. Forward-looking information is based on the current expectations, estimates and projections of the Corporation at the time the statements are made. They involve a number of known and unknown risks and uncertainties which would cause actual results or events to differ materially from those presently anticipated. The risks, uncertainties and other factors that could cause the Corporation’s actual results and performance in future periods to differ materially from the forward looking information contained in this news release include, among other things, the development of Westphalia Town Center, general economic and market factors, including interest rates, a decline in the real estate market, changes in government policies and regulations or in tax laws, changes in municipal planning strategies and whether certain development approvals are obtained and changes in the Canadian/U.S. dollar exchange rate, in addition to those factors discussed or referenced in documents filed with Canadian securities regulatory authorities and available online at www.sedar.com.

Except as otherwise noted, all amounts are in Canadian dollars, and are based on unaudited condensed interim consolidated financial statements for the three months ended March 31, 2022, and related notes, prepared in accordance with International Financial Reporting Standards.

Contacts

MEDIA CONTACT:
LAVIDGE

Megan Wahl

480-998-2600

DL-Walton@lavidge.com

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

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that Choice Properties Limited Partnership (the “Partnership”) has provided holders of its 3.60% series 10 senior unsecured debentures due September 20, 2022 (the “Series 10 Debentures”) with a notice of redemption pursuant to which the Partnership will redeem the entire outstanding principal amount of Series 10 Debentures on June 26, 2022 and has fixed June 24, 2022 as the record date for this redemption. As of the date hereof, there is $300 million aggregate principal amount of Series 10 Debentures outstanding.

On the redemption date, the Series 10 Debentures will be redeemed in accordance with their terms at a redemption price per $1,000 principal amount of the Series 10 Debentures equal to $1,000 plus accrued and unpaid interest to but excluding the redemption date of $9.666, and will thereafter cease to be outstanding.

About Choice Properties Real Estate Investment Trust

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

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

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

Forward-Looking Statements

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

Contacts

Mario Barrafato

Chief Financial Officer

Choice Properties Real Estate Investment Trust

t (416) 628-7872

e Mario.Barrafato@choicereit.ca

TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) announced today that its Board of Trustees has declared the REIT’s monthly cash distribution for the months of June, July and August 2022 as per the following schedule:

Month		Record Date		Distribution Date		Distribution Amount
June, 2022		June 30, 2022		July 15, 2022		$0.06875
July, 2022		July 29, 2022		August 15, 2022		$0.06875
August, 2022		August 31, 2022		September 15, 2022		$0.06875

ABOUT INOVALIS REAL ESTATE INVESTMENT TRUST

Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning office properties primarily located in France, Germany and Spain but also opportunistically in other European countries where assets meet the REIT’s investment criteria.

Contacts

David Giraud, Chief Executive Officer
Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3323

david.giraud@inovalis.com

Khalil Hankach, Chief Financial Officer
Inovalis Real Estate Investment Trust

Tel:+33 1 5643 3313

khalil.hankach@inovalis.com

MIAMI–(BUSINESS WIRE)–#IndustrialEndMarkets–H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $49 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire Terra Millennium Corporation (“Terra Millennium” or the “Company”), a leading national provider of outsourced industrial maintenance services, including refractory maintenance and other specialized services, from Court Square Capital Partners. Terra Millennium’s executive team, led by CEO Bryan Young, will continue to lead the Company, and remain as significant shareholders. Executive Chairman Mark Stutzman will continue as a non-executive board member and significant shareholder.

Founded in 1906 and headquartered in Salt Lake City, UT, Terra Millennium provides mission-critical industrial services, including refractory design and maintenance, mechanical services, fireproofing, coatings, insulation, and scaffolding. The Company services a diverse blue-chip customer base across a broad range of industrial end markets, including cement, steel, renewables, chemicals, mining, pulp & paper, and refining. Terra Millennium operates from a network of 33 offices across the country.

“I am proud of Terra Millennium’s success to date. The investment by H.I.G. is recognition of all that the team has accomplished, and we are excited to partner with H.I.G. to support our next phase of growth,” said Mark Stutzman, Executive Chairman of Terra Millennium.

Bryan Young, CEO of Terra Millennium, added “We are well-positioned to continue providing great safety, outstanding quality, and compelling value to each of our customers. In partnership with H.I.G., Terra Millennium will be equipped to continue executing on our growth plans and vision for the Company, including deepening our presence in attractive geographies, expanding our service offering and pursuing add-on acquisitions, while maintaining the strong culture that we have developed over the past century.”

“We are very excited to partner with Bryan, Mark, and the Terra Millennium team,” said Matt Gullen, Managing Director at H.I.G. Capital. “There are tremendous opportunities ahead for the Company given its long track record of providing high-quality, reliable service which is enabled by its highly-skilled, national workforce, and best-in-class leadership team. The Company has established itself as a leader in the industry, and we look forward to working with Terra Millennium to build upon their success and support continued growth initiatives.”

The transaction is expected to close in Q2 2022 and is subject to customary closing conditions.

Macquarie Capital and Stifel acted as financial advisors and provided committed financing, and McDermott Will & Emery LLP provided legal advice, to H.I.G. Capital. Harris Williams and Evercore acted as financial advisors, and Dechert LLP acted as legal counsel, to the Company on the transaction.

About Terra Millennium

Terra Millennium Corporation (“Terra Millennium” or the “Company”) is a leading provider of outsourced industrial maintenance services, including refractory design and maintenance, fireproofing, insulation, coatings, scaffolding and mechanical services. Founded in 1906 and headquartered in Salt Lake City, Utah, Terra Millennium is the parent company to seven entities (i) JTTHORPE, (ii) JTTHORPE International, (iii) K&G Industrial, (iv) Southern Refractories, Inc., (v) Brahma Group, (vi) Liberty Industrial Group, and (vii) Rocky Mountain Industrial Construction Services. Terra Millennium operates from a network of 33 offices across the United States.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $49 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contacts

Matt Gullen

Managing Director

mgullen@higcapital.com

This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.

TORONTO–(BUSINESS WIRE)–Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) (the “Trust” or the “REIT”) announced an update on its sustainability initiatives that are currently underway across its portfolio.

Net Zero Strategy

The Trust continues to progress towards its goal of achieving net zero on Scope 1 and 2 emissions by 2035 and select scope 3 emissions by 2050, in alignment with science-based targets outlined in the Paris Agreement. In 2021, the Trust became official supporters of the Taskforce on Climate-related Financial Disclosures (“TCFD”), which provides guidance and recommendations on climate-related risk and opportunity disclosures and committed to the United Nations Principles for Responsible Investment (“UNPRI”) and the Net Zero Asset Managers (“NZAM”) initiative. Recently, the Trust published its Net Zero Action Plan (link), which outlines the proposed strategy and course of action to achieve net zero within the targeted timeline.

In alignment with its net zero target, the Trust is finalizing development plans for its inaugural net zero redevelopment expected to commence later in 2022. The Trust intends to redevelop a cluster of three buildings on a 10-acre site located in the Great Toronto Area (“GTA”), in close proximity to Highways 401 and 410, into a 209,000 square foot best-in-class facility with construction completion expected in 2023. The Trust expects the new facility to be designed to include energy efficient roof insulation, heating and ventilation equipment, as well as a reinforced roof to support solar panels on up to 70% of the roof area. The building is expected to receive Canada Green Building Council’s (“CaGBC”) Zero Carbon Building Standard certification upon completion.

Net zero redevelopment – GTA, Canada

(See Figure 1)

Green Lease Program

The Trust has established and executed a green lease program that includes commitments to tenant energy disclosures, low carbon construction practices, the purchase of on-site renewable energy (if available), and tenant energy efficiency engagement and training, and cost recovery clauses for energy efficiency upgrades.

Recently, the Trust achieved Gold Level recognition by the Green Lease Leaders (“GLL”) program during the Better Buildings, Better Plants Summit, by the Institute for Market Transformation (“IMT”) and the U.S. Department of Energy’s (“DOE”) Better Buildings Alliance.

“We are pleased to be recognized by GLL for our significant efforts in driving sustainability initiatives across our portfolio,” said Alexander Sannikov, Chief Operating Officer of Dream Industrial REIT. “We continue to incorporate sustainability into our investment decision-making, which allows us to further enhance the quality of our portfolio and business. Our solar panel installation program is well underway with several projects already online or expected to come online in the coming months. Our growing development program is expected to significantly enhance the sustainability profile of our portfolio.“

Renewable Energy

The scope and scale of the Trust’s renewable energy program continues to gain momentum, and the Trust has commenced the construction on several projects across its portfolio.

• In Canada, the Trust is currently executing on seven projects that will add over 6,000 panels generating over 2.6 MW of renewable energy;
• In Europe, the Trust is currently underway on six projects that will add 15,400 solar panels generating over 7.0 MW of renewable energy; and
• The Trust is currently in the advanced stages of evaluating the feasibility of eleven additional projects that could add an additional 35,000 solar panels.

Pro forma these projects, the Trust will have over 75,000 solar panels encompassing over five million square feet of gross leasable area (“GLA”) across its portfolio.

Overall, the Trust expects its capital investment for the 13 projects currently underway to total approximately $11 million with a forecast unlevered yield on cost of over 8.7%. During Q1-2022, the Trust’s first solar installation project in Alberta achieved substantial completion and the tenant is now using solar-generated power to operate the building. The Trust is currently in the process of obtaining a LEED certification on the building.

Solar panel array in Canada and the Netherlands

(See Figure 2 and Figure 3)

Below, the Trust has provided an update on other sustainability initiatives across its portfolio.

Green Buildings

The Trust’s criteria for new investments includes acquiring assets that are more energy-efficient than the average stock in their respective markets. To date, the Trust has invested over $220 million to acquire buildings that are Green-certified (BREEAM, LEED, DGNB). Moreover, the Trust has acquired $73 million of assets in Europe that carry an Energy Performance Certificate (“EPC”) Label B or higher.

Sustainable buildings – Green certified

(See Figure 4 and Figure 5)

In addition, several assets in the Trust’s portfolio are already built to green standards and it is currently in the process of obtaining green certifications on these assets. In 2021, the Trust acquired a 159,000 square foot modern distribution facility in the Netherlands. The asset carries an A++ EPC Label with significant energy efficiency characteristics such as rooftop solar panels, LED lighting with motion sensors and water efficient washroom fixtures. In addition, the building offers secure bicycle parking, electric vehicle (“EV”) charging stations and natural daylight for the building occupants. The Trust is in the process of obtaining a BREEAM Very Good certification on the asset.

Overall, the Trust is in the process of acquiring Green certifications on seven existing assets as well as seven ongoing developments and expansions across Canada and Europe spanning 2.5 million square feet.

Sustainable building with green certification in progress

(See Figure 6)

Furthermore, the Trust has a target of obtaining green-building certifications on all new developments commencing in 2022. Consequently, as the Trust executes on its development strategy, there is a significant opportunity for the Trust to enhance its portfolio quality as well as the sustainability profile of its overall portfolio.

The Trust is currently underway on a 242,000 square foot expansion at its property in Dresden, Germany, where the Trust is building a freestanding building on excess land at the site. The Trust is expected to achieve a German DGNB Gold certification on the development with the new building designed with the ability to install solar panels in the future.

Sustainable development – Dresden, Germany

(See Figure 7)

Energy Efficiency

The Trust is currently underway on several initiatives to improve energy efficiency across its existing portfolio. The Trust is focused on transitioning the interior and exterior lighting across its portfolio to LED lighting which provides more illumination while requiring substantially less energy than conventional lighting. Since the beginning of 2021, the Trust has upgraded 1.2 million square feet of LED lighting and will continue looking for opportunities to further enhance energy efficiency across its portfolio.

Tenant engagement initiatives

With the vast majority of emissions for industrial buildings coming from tenant-controlled sources, the Trust continues to actively work with its tenants to benchmark tenant sustainability priorities and goals, identify priority initiatives and assets for sustainability investments, and provide insight into opportunities to broker new sustainability-related partnerships, as it progresses towards reducing the carbon footprint within its portfolio. The Trust conducts quarterly tenant surveys on a rotational basis. The survey results provide significant insight into tenant interest in initiatives including renewable energy, LED lighting, green building certifications and EV charging stations, and inform the prioritization of property-specific sustainability initiatives.

Green financing update

With significant capital being invested towards sustainability investments and initiatives, the Trust continues to access green financing as a source of capital to fund these projects. To date, the Trust has issued $850 million of green bonds. In 2021, the Trust deployed $295 million towards eligible green projects and identified $250 million in additional eligible green projects, with a further $300 million of projects in feasibility or preliminary stages. On April 14, 2022, the Trust published its inaugural annual Green Bonds Use of Proceeds report, which can be found on the Trust’s website here.

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at March 31, 2022, Dream Industrial REIT owns, manages and operates a portfolio of 244 industrial assets (358 buildings) comprising approximately 44.4 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s objective is to continue to grow and upgrade the quality of its portfolio which primarily consists of distribution and urban logistics properties and to provide attractive overall returns to its unitholders. For more information, please visit www.dreamindustrialreit.ca.

Forward Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation, including statements regarding the Trust’s plan to achieve net zero on scope 1 and 2 emissions by 2035 and select scope 3 emissions by 2050; the Trust’s intention to report its progress on achieving net zero greenhouse gas emissions annually; the Trust’s support and commitment in respect of certain initiatives, including with respect to sustainability and financial disclosure; the Trust’s development and redevelopment plans, including in respect of achieving net zero emissions for certain projects, implementing energy efficiency features and other upgrades that improve building sustainability, square footage, and completion dates; the Trust’s ability to fulfill its commitments under its green lease program; the enhancement of the Trust’s portfolio quality and sustainability, including by incorporating sustainability into investment decision-making and implementing certain retrofits and upgrades; the Trust’s plans to install solar panels at certain of its projects, including GLA covered, number of panels to be installed, investment costs, and energy output and unlevered yield to result from such panels; the Trust’s plans to achieve certain green building certifications; expectations regarding the Trust’s engagement with tenants on sustainability matters; and the Trust’s capacity to continue accessing green financing options to fund sustainability investments and initiatives. Forward-looking information generally can be identified by the use of forward-looking terminology such as “objective”, “will”, “expect”, “intend”, “believe”, “should”, “plans”, “allow” or “continue”, or similar expressions suggesting future outcomes or events. 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 the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, general and local economic and business conditions; employment levels; mortgage and interest rates and regulations; uncertainties around the timing and amount of future financings; uncertainties surrounding the COVID-19 pandemic; geopolitical events, including disputes between nations, war and international sanctions; the financial condition of tenants; leasing risks; rental rates and the strength of rental rate growth on future leasing; and interest and currency rate fluctuations. The Trust’s objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable, interest rates remain stable, conditions within the real estate market remain consistent, rising replacement costs in the Trust’s operating markets remain steady, competition for acquisitions remains consistent with the current climate and that the capital markets continue to provide ready access to equity and/or debt. All forward-looking information in this press release speaks as of the date of this press release. The Trust 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 contained in the Trust’s filings with securities regulators, including its latest annual information form and management discussion and analysis. These filings are also available at the Trust’s website at www.dreamindustrialreit.ca.

Contacts

DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST

Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Lenis Quan
Chief Financial Officer

(416) 365-2353

lquan@dream.ca

Alexander Sannikov
Chief Operating Officer

(416) 365-4106

asannikov@dream.ca

This is the second commercial real estate project for Harden in the community as it continues to expand its footprint in the province

VAUDREUIL-DORION, Quebec–(BUSINESS WIRE)–Harden, a leading real estate company, celebrates the ground-breaking of their newest commercial real estate project in Beauharnois, Quebec. This project, Quartier Beauharnois, is the second one for the company in this community, the first being District Beauharnois completed in 2017, consisting of over 150 000 square feet of leasable area. With an investment of over $25 million, the project will include green spaces, an expansive shopping experience and reinforces Harden’s commitment to the communities in which they operate.

“We are thrilled to continue our relationship with the Beauharnois community by developing Quartier Beauharnois,” says Co-President and CEO, Tyler Harden. “At Harden, supporting communities and responding to their needs has always been at the forefront of our strategy. The success of District Beauharnois coupled with the tremendous growth of the market enabled us to make this investment. It is an honor and privilege to continue building in the Beauharnois community and leave a positive legacy for all residents and visitors to benefit from.”

“It is with great enthusiasm that we welcome this new project, by Harden, to the Beauharnois community,” says Alain Dubuc, Mayor of Beauharnois. “Quartier Beauharnois will increase the commercial services offered to our citizens, at a time when local economy is taking off. This type of project is part of a vision of urban vitality aimed at providing an attractive and diversified living environment for citizens and visitors.”

Quartier Beauharnois, easily accessible by highway 30, will consist of over 65 000 square feet of leasable area. The first phase, to be completed by the end of this year, will be anchored by a Super C of over 35 000 square feet. Super C will open its door Fall 2022. Up to ± 20,000 s.f. of gross leasable area will also be built and is available to lease, including a ± 11,625 s.f. building that will be subdividable to suit the needs of any future tenants. The project will include three pads with drive-thrus and patios (from ± 2,056 to 3,552 s.f.). Construction is expected to be fully completed in 2023.

About Harden

Established in 1985, Harden is a second generation, family-owned real estate company whose primary focus is owning and operating commercial, residential, and industrial properties in many communities throughout the provinces of Quebec and Ontario. Being vertically integrated enables them to specialize in all facets of the real estate development process, including, development, construction, leasing, and property management.

To learn more about Harden, please visit www.harden.ca

Contacts

Tia Giannone

Torchia Communications

514-999-1732

tia@torchiacom.com

BEVERLY HILLS, Calif.–(BUSINESS WIRE)–Luxury residential community developer Discovery Land Company has hired Brett White and Michelle Ngo to propel the company to a new era of international expansion. White, who now leads as Discovery’s CEO, and Ngo, Discovery’s new CFO, both began their roles in the first quarter of 2022.

White served as CEO and Executive Chairman of Cushman & Wakefield from 2015 through 2021. Prior to joining Cushman & Wakefield, White had a 28-year career with CBRE, serving as CEO from 2005 through 2012 and President from 2001 through 2005. At Discovery, Brett will use his decades of experience in real estate to lead all business and development operations as well as strategize for global expansion, new clubs, and current club oversight.

Ngo’s previous role was with Kilroy Realty Corporation, where she served 16 years culminating in her roles as Treasurer and then CFO. At Kilroy, Michelle provided leadership for capital markets, financial planning and analysis, investor relations, and accounting and treasury oversight. At Discovery, Ngo will lead all of Discovery’s global financial and accounting operations as well as Discovery’s technology division. Additionally, Ngo will set and execute business and growth strategy with executive leadership.

White identifies the passion of Discovery’s staff and members and the close connections formed at the properties as some of the most successful characteristics of the company. “Discovery’s members and teams include people with a passion for the business I’ve never seen before. It makes me believe that anything is possible for Discovery. I’ve worked 38 years in real estate, and I’ve never been this excited to get up and go to work,” White says.

Discovery’s Chairman and Founder Michael Meldman believes the new additions to the executive leadership will take Discovery to the next level. “These individuals are at the top of their fields, respectively. They are the exact kind of visionaries Discovery needs to grow our brand and to have an even more grand and more positive impact on member families all around the world,” says Meldman.

ABOUT DISCOVERY LAND COMPANY

Discovery Land Company is a US-based real estate developer and operator of private residential club communities and resorts with a world-renowned portfolio of domestic and international properties. Every community features unparalleled amenities and inspired experiences that cater to a family-oriented lifestyle. Driven by a commitment to excellence and innovation, Discovery’s distinguishing hallmark is a unique approach to each location that respectfully integrates the natural and cultural characteristics of the land that surrounds it. Some of Discovery Land Company’s properties include Baker’s Bay Golf and Ocean Club in the Bahamas; Gozzer Ranch Golf and Lake Club in Idaho; El Dorado and Chileno Bay in Los Cabos, Mexico; The Madison Club and Cordevalle Golf Club in California; Mirabel and The Estancia Club in Arizona; Yellowstone Club and Iron Horse Golf Club in Montana; Kuki’o and Makena in Hawaii; Mountaintop in North Carolina; and Summit in Las Vegas, Nevada.

Contacts

Whitney Kenson Kean

media@discoverylandco.com

North America’s Leading Outdoor Living Company Gifts Firepit and Canadian-Made Prize Package to Lucky Homeowners

ATLANTA–(BUSINESS WIRE)–Belgard Canada®, the leader in outdoor living essentials for the patio and beyond, calls on all homeowners to kick off its summer giveaway in honour of Canada Day. Open for entries from May 20 to June 15, homeowners across western Canada can enter to win a Canadian-made Belgard backyard retreat. The prize package consists of a Belgard® Firepit with moon chairs, YETI cooler with tumblers, custom charcuterie board and gifts from local merchants to elevate the outdoor living experience. Eligible homeowners can submit their entry at Belgard.com/CanadaDay for a chance to win the prize.

“Our giveaway is special this year, as the launch of Belgard Canada® is solidifying our footprint throughout the country,” says John Moroz, Director of Sales Operations, Oldcastle APG Canada West. “We are thrilled to see continued growth in the region, while also reflecting on the challenges that past two and half years has been for many families. We are excited to gift a backyard giveaway package to 4 lucky Canadian homeowners this year so they can enjoy the ultimate outdoor retreat.”

To celebrate Canada Day in the great outdoors, Belgard Canada® invites people to nominate a deserving family member, friend, or colleague who could benefit from a backyard upgrade, to enter the giveaway by June 15. For more information, including how enter and to download an outdoor living inspiration guide, visit Belgard.com/CanadaDay. Entries are accepted from residents of British Columbia, Alberta, Saskatchewan and Manitoba.

About Belgard®

Belgard, part of Oldcastle APG, offers a complete collection of paver and wall products for outdoor living spaces, walkways, driveways, parking areas and retaining walls. Available in a range of styles, premium Belgard products have been found in America’s finest homes and award-winning commercial and retail properties since 1995. For more information, visit Belgard.com or call 1-877-Belgard (235-4273).

Oldcastle APG is part of CRH’s Building Products division.

CRH is the leading building materials business in the world, employing c.90,000 people at c.3,700 operating locations in 32 countries. It is the largest building materials business in North America, the largest heavyside materials business in Europe and has a number of strategic positions in the emerging economic regions of Asia and South America. CRH manufactures and supplies a range of integrated building materials, products and innovative solutions which can be found throughout the built environment, from major public infrastructure projects to commercial buildings and residential structures. A Fortune 500 company, CRH is a constituent member of the FTSE 100 index, the EURO STOXX 50 index, the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe. CRH’s American Depositary Shares are listed on the NYSE.

Contacts

Elisa Suri

esuri@trevelinokeller.com
404-214-0722 x 119

DUBLIN–(BUSINESS WIRE)–The “Canada Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026” report has been added to ResearchAndMarkets.com’s offering.

The construction industry in Canada registered an annual growth of 6.1% in real terms in 2021, compared to a decline of 2% in 2020

Last year, the industry’s output was supported by an improvement in residential building construction and civil engineering activities, which registered annual growth of 13% and 1.8%, respectively. Additionally, progress in the country’s vaccination drive, an increase in household incomes and a recovery in the global economy also supported the industry’s growth in 2021.

The publisher expects the Canadian construction industry to expand by 4% in real terms this year, as strong building permit data has underpinned strong growth in 2022. According to Statistics Canada, the value of building permits rose by 8.3% in 2021, with the value of residential buildings rising by 9.1% and that of non-residential buildings rising by 6.8% last year.

The industry’s output will be supported by investments in residential, transport, housing and oil and gas projects. In January 2022, the Canadian Association of Petroleum Producers (CAPP) reported that capital spending in the country’s oil and gas sector is expected to rise by 22% and reach CAD32.8 billion ($26.1 billion) in 2022.

However, the rise in construction material prices, labour shortages and the recent hike in interest rates could pose a downside risk to the industry’s outlook in the initial part of the forecast period. According to Statistics Canada, the residential building construction price index rose by 18.1% in 2021, while that of non-residential buildings rose by 6.9% in the same year.

The industry is expected to register an annual average growth of 2.2% from 2023 to 2026, supported by public project growth as longer-term investment plans come to fruition such as the government’s three-year ‘Growth Plan’, which was announced in October 2020. It includes an investment of CAD10 billion ($7.5 billion) on clean energy projects, broadband projects, building retrofitting, agriculture irrigation projects and electric buses and charging infrastructure.

This plan is a part of the government’s wider long-term infrastructure plan known as the ‘Investing in Canada Plan’; it was launched in 2016 and involves an investment of CAD188 billion ($141.8 billion) over a period of 12 years. As of February 2022, over 78,000 projects worth CAD118.5 billion ($95.7 billion) had been approved, with 98% of them completed or underway.

Scope

• Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Canada, featuring details of key growth drivers
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline
• Listings of major projects, in addition to details of leading contractors and consultants

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 COVID-19 Status

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction

• Outlook
• Latest news and developments
• Construction Projects Momentum Index

4.2 Commercial Construction

• Outlook
• Project analytics
• Latest news and developments

4.3 Industrial Construction

• Outlook
• Project analytics
• Latest news and developments

4.4 Infrastructure Construction

• Outlook
• Project analytics
• Latest news and developments

4.5 Energy and Utilities Construction

• Outlook
• Project analytics
• Latest news and developments

4.6 Institutional Construction

• Outlook
• Project analytics
• Latest news and developments

4.7 Residential Construction

• Outlook
• Project analytics
• Latest news and developments

5 Key Industry Participants

5.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/niepff

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

TORONTO–(BUSINESS WIRE)–DREAM INDUSTRIAL REIT (TSX: DIR.UN) (the “Trust”) announced today its May 2022 monthly distribution in the amount of 5.833 cents per Unit (70 cents annualized). The May distribution will be payable on June 15, 2022 to unitholders of record as at May 31, 2022.

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at March 31, 2022, Dream Industrial REIT owns, manages and operates a portfolio of 244 industrial assets (358 buildings) comprising approximately 44.4 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s objective is to continue to grow and upgrade the quality of its portfolio which primarily consists of distribution and urban logistics properties and to provide attractive overall returns to its unitholders. For more information, please visit our website at www.dreamindustrialreit.ca.

Contacts

Dream Industrial REIT

Brian Pauls

Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Lenis Quan

Chief Financial Officer

(416) 365-2353

lquan@dream.ca

Alexander Sannikov

Chief Operating Officer

(416) 365-4106

asannikov@dream.ca

TORONTO–(BUSINESS WIRE)–DREAM OFFICE REIT (TSX: D.UN) (“Dream Office” or the “Trust”) today announced its May 2022 monthly distribution of 8.333 cents per REIT Unit, Series A ($1.00 annualized). The May distribution will be payable on June 15, 2022 to unitholders of record as at May 31, 2022.

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

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