TORONTO–(BUSINESS WIRE)–Slate Office REIT (TSX: SOT.UN) (the “REIT”), an owner and operator of high-quality workplace real estate, announced today that the Board of Trustees has declared a distribution for the month of August 2022 of C$0.0333 per trust unit of the REIT, representing $0.40 per unit of the REIT on an annualized basis.

The distribution will be payable on September 15, 2022 to unitholders of record as of the close of business on August 31, 2022.

About Slate Office REIT (TSX: SOT.UN)

Slate Office REIT is a global owner and operator of high-quality workplace real estate. The REIT owns interests in and operates a portfolio of strategic and well-located real estate assets in North America and Europe. A majority of the REIT’s portfolio is comprised of government and high-quality credit tenants. The REIT acquires quality assets at a discount to replacement cost and creates value for unitholders by applying hands-on asset management strategies to grow rental revenue, extend lease term and increase occupancy. Visit slateofficereit.com to learn more.

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.

SOT-Dist

Contacts

Investor Relations

+1 416 644 4264

ir@slateam.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 August 2022 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 September 15, 2022 to unitholders of record as of the close of business on August 31, 2022.

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

Investor Relations

+1 416 644 4264

ir@slateam.com

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSX: REAX), an international, technology-powered real estate brokerage, announced today that Chief Financial Officer Michelle Ressler will be presenting at the D.A. Davidson Big Sky Technology Summit on Monday, August 22, 2022 at 10:30am MT (12:30pm ET). 

Real’s remarks will be broadcast live and can be accessed by interested parties at the link below and through Real’s website, www.onereal.com, in the “Investors” section.

Date: August 22, 2022

Time: 10:30am MT / 12:30pm ET

Webcast link:  https://wsw.com/webcast/dadco61/reax/1910304

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSX: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 6,000 agents. Additional information can be found on its website at www.onereal.com.

Contacts

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

For media inquiries:

Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSX: REAX), an international, technology-powered real estate brokerage, announced today that Chief Financial Officer Michelle Ressler will be presenting at the Investor Summit Group’s Q3 Virtual Conference on Tuesday, August 16, 2022 at 9:30am ET.

Real’s remarks will be broadcast live and can be accessed by interested parties at the link below.

Date: August 16, 2022

Time: 9:30am ET

Webcast link: https://us06web.zoom.us/webinar/register/WN_-hxOTAr1SVaGYao7dxDBSg

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSX: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 6,000 agents. Additional information can be found on its website at www.onereal.com.

Contacts

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (“Real” or the “Company”) (NASDAQ: REAX) (TSX: REAX), an international, technology-powered real estate brokerage, announced today that Tamir Poleg, Chairman and Chief Executive will be presenting at the 2022 Sidoti Micro-Cap Virtual Conference on Thursday, August 18, 2022 at 11:30am ET.

Real’s remarks will be broadcast live and can be accessed by interested parties at the link below.

Date: August 18, 2022

Time: 11:30am ET

Webcast link: https://sidoti.zoom.us/webinar/register/WN_fo-k9xLgT7SHisKCcaMJ4g

About Real

The Real Brokerage Inc. (NASDAQ: REAX) (TSX: REAX) is revolutionizing the residential real estate industry by pairing best-in-class technology with the trusted guidance of the agent-led experience. Real delivers a cloud-based platform to improve efficiencies and empower agents to provide a seamless end-to-end experience for homebuyers and sellers. The company was founded in 2014 and serves 44 states, D.C., and two Canadian provinces with over 6,000 agents. Additional information can be found on its website at www.onereal.com.

Contacts

For additional information:

Jason Lee

Vice President, Capital Markets & Investor Relations

investors@therealbrokerage.com
908.280.2515

For media inquiries:

Elisabeth Warrick

Director, Communications

elisabeth@therealbrokerage.com

Family trade business focused on plumbing, heating and gas adopts technology to change the way they work and improve site-to-office communications for young team

TORONTO–(BUSINESS WIRE)–Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced that Alex Leclerc, a mechanical contractor based in Donnacona, Québec, has selected Procore as its construction management platform.

Formed in 1945, Alex Leclerc is a family business focused on plumbing, heat and gas. Four generations later, the company is a leader in the commercial and residential markets. With a large employee base, the company prides itself on its dedication to understanding the needs of its employees and customers.

Alex Leclerc’s Financial Director, Jean-Simon Boulanger, has a passion for digital transformation. Boulanger saw the value technology was bringing to the industry and wanted to digitize the company’s processes. He led the charge to find an all-in-one technology solution that could facilitate employees’ day-to-day activities and help them do their jobs efficiently with tools that could, for example, allow them to see plans digitally. The company was also looking for a way to improve site-to-office communications.

As a Québec-based organization, it was important the solution be available in French, and that anyone supporting their team – whether it was sales, training or customer service – was able to communicate with them in their native language.

After a thorough search and evaluation, the company selected Procore as its first construction management software. Alex Leclerc will use Procore to submit bids, approve commitments, track RFIs and respond to punch list items with Procore Project Management Pro. The company will use tools including Drawings, RFIs, Submittals and Daily Log to provide an overview of the status of projects in real-time, to ensure a continuous flow of information between sites and the office, and more.

“We wanted to support our teams onsite and in the office with a solution that would improve how we all work,” said Mélanie Lajeunesse, Vice-President and CEO of Alex Leclerc. “Procore met all of our requirements and stood out to us for many reasons, including its history and reputation in the industry as well as its unlimited user model. It’s also customizable to the way we work so we know we can adapt it as we grow or as things change. We look forward to continuing to collaborate with the Procore team as we implement the platform.”

“At Procore, we regularly solicit feedback from customers across the globe, including Québec, to see how we can better meet local needs,” said Jas Saraw, vice president, Canada at Procore. “Alex Leclerc is a family business with a meaningful history in the Québec construction market. Procore is proud to support them in this next phase of their journey as they move forward with new insights and processes that will not only improve the way they work, but also how they deliver services to their customers.”

Procore supports construction companies of all sizes. To learn more about how the solution supports subcontractors, visit https://www.procore.com/en-ca/subcontractors.

About Alex Leclerc

Alex Leclerc is set apart by the quality of the company’s work and its personalized approach. Founded in 1945, the company began with a focus on the residential sector and continued with that specialization with Alex’s son, Michel. In 2001, the founder’s grandson, Patrice Leclerc (President, Operations Director), took over the family business with his wife, Mélanie Lajeunesse. The two owners have surrounded themselves with a young, dynamic team which is giving new impetus to the business. More than 20 years later, the family tradition continues with Alex’s great-grandson, Félix Leclerc (Operations Assistant Director) who recently became part of the ownership. The family teamed up with two other partners: Patrice Gauthier (Projects Director) and Jean-Simon Boulanger. The company has succeeded in establishing itself as a leader in the commercial market, in addition to confirming its presence in the residential market. Today, Alex Leclerc is a team of more than 60 employees led by five young owners who are dedicated to make their employees happy, respect the needs of their customers and create a difference in their community. www.alexleclerc.ca

About Procore

Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore’s platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore’s App Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices in the United States, Canada and around the globe. Learn more at Procore.com.

Procore is a leading global provider of construction management software, built specifically for the owner, the general contractor, and the subcontractor.

Contacts

Steve Gold/Cindy Watson

StrategicAmpersand Inc. (on behalf of Procore)

ProcorePR@stratamp.com

CALGARY, Alberta–(BUSINESS WIRE)–#buildingprogress–Lafarge Canada, a member of Holcim Group, today announced the opening of the company’s first four Electric Vehicle Charging Stations in Canada at its Kent Ave Ready Mix Concrete Plant in Vancouver, British Columbia.

The project was initiated in March of 2022 by Lafarge’s Vancouver team with support from Lafarge Canada for secured funding of $50 thousand and an additional $20 thousand from the CleanBC Go Electric Vehicle (EV) charger rebate program administered by BC Hydro.

The Kent Ave stations are the first of 100 charging stations planned for installation at 30 sites across British Columbia, Alberta, Saskatchewan and Manitoba to create the infrastructure to support Lafarge Western Canada’s transition of its *light-duty vehicle fleet to electric vehicles by 2025. The fleet initiative creates the potential to eliminate 188 tons of CO2 (carbon dioxide) emissions over the next five years.

The Kent Ave stations are accessible to all employees who drive electric vehicles or would like to transition their personal vehicle to electric or hybrid models.

The migration to electric vehicles is in line with Holcim’s (US and Canada) overarching goal to reduce indirect carbon emissions from sources like transportation (Scope 3 emissions). By investing in emerging technology, Lafarge Canada is progressing towards generating benefits for people and the planet.

“We are thrilled that Western Canada has opened the first electric vehicle charging stations to kick-start this exciting effort planned across our Canada operations to advance our goal of net-zero as part of our environmental commitments.” -Brad Kohl, CEO, Lafarge, Western Canada

*Lafarge Western Canada’s transition of its light-duty fleet to hybrid and electrical vehicles by 2025 will include the full-time sales and logistics operations in British Columbia, Northern Alberta and Southern Alberta.

About Lafarge Canada Inc.

Lafarge is Canada’s largest provider of sustainable construction materials and a member of the global group, Holcim. With 6,000 employees and 350 sites across Canada, our mission is to provide construction solutions and products that build progress for people and the planet. The cities where Canadians live, work, and raise their families along with communities’ infrastructure benefit from the sustainable portfolio provided by Lafarge, consisting of Aggregates, Asphalt and Paving, Cement, Precast Concrete, Ready-Mix Concrete, and Road Construction.

Contacts

Christa Broadfoot – christa.broadfoot@lafarge.com

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

OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent” or the “REIT”) today reported financial results for the second quarter ended June 30, 2022.

InterRent REIT achieves 8.9% growth in same property NOI in Q2 2022

• Same property occupancy of 95.6% in June 2022, an increase of 340bps compared to June 2021.
• Same property operating expenses continue to track in line with expectations, resulting in same property NOI of $29.8 million for the quarter and growth of 8.9% compared to Q2 2021.
• Administrative costs of $4.3 million in Q2 2022 capture increased bench strength relative to prior year, as well as advances toward sustainability commitments.
• Refinancing activity in the quarter lengthens average term to maturity to 4.8 years and increases share of CMHC-insured mortgages to 73%.
• FFO of $18.9 million ($0.131 per Unit – diluted) in Q2 2022; growth of 6.3% overall and 5.6% on a per Unit basis compared to Q2 2021.
• Enhancing environmental profile with new build acquisition in Brossard in Q2 2022.

Solid net operating income serves to offset higher expense base in the second quarter

As of June 30, 2022, InterRent had 100% ownership in 12,573 suites, up 6.1% from 11,850 as of Q2 2021. Including properties that the REIT owns in its joint operations, InterRent owned or managed 13,180 suites as of June 30, 2022. At 95.1%, the June 2022 occupancy rate in InterRent’s portfolio improved 360bps over June 2021 (91.5%) and is in line with seasonal expectations against March 2022 backdrop (95.5%). The REIT’s same property portfolio likewise saw year-over-year occupancy gains in Q2 2022, posting an improvement of 340bps over June 2021 to reach 95.6%.

Within the same property portfolio, June 2022 occupancy slipped 80bps relative to March 2022 (96.4%), largely driven by a dip in the National Capital Region. Encouragingly, this region is seeing strong demand post-quarter, which should support an improved figure in Q3.

Total portfolio operating revenues in Q2 2022 were up +17.5% over Q2 2021 following a strong year of external growth in 2021. Narrowing to the same property portfolio, operating revenues grew 9.5% in Q2 2022 to $46.7 million, driven by improvements in average rent per suite (+6.2%). Though the current inflationary environment is impacting operating expenses for the REIT’s portfolio, property operating costs and utility consumption for Q2 2022 are tracking in line with internal budget expectations. Total and same property portfolios both saw mild NOI margin contraction of 30bps relative to Q2 2021, with top line strength generating year-over-year NOI growth of 16.9%, and 8.9%, respectively, in the quarter.

Administrative costs of $4.3 million in Q2 2022 are higher compared to both Q2 2021 ($3.2 million) and Q1 2022 ($3.5 million) and are more representative of the REIT’s expected run-rate following the strategic build out of its team in 2021 and ongoing sustainability efforts. Of note, approximately 7% of the Q2 2022 figure relates to ESG actions, including the impact of InterRent’s initiative to support refugees from Ukraine and Afghanistan, foundational work for the REIT’s climate commitments, and various biodiversity initiatives across the portfolio.

Financing costs in Q2 2022 came in at $10.4 million, reflecting the higher rate environment relative to Q2 2021 ($7.5 million). During the quarter, the Trust closed on three new mortgages totaling an additional $71.0 million, renewed three mortgages totaling $54.6 million, and closed on six up-financings totaling $161.6 million (maturing loans totaled $50.5 million). As a result, the average term to maturity of the REIT’s mortgage debt was approximately 4.8 years at June 30, 2022, compared to 4.5 years at March 31, 2022, and the share of mortgage debt backed by CMHC insurance increased from 71% at the end of Q1 2022 to 73% at the end of Q2 2022. Given the higher rate environment in Q2 2022, this refinancing activity saw the weighted average cost of mortgage debt increase to 2.8%, 29bps higher relative to March 31, 2022. Subsequent to the quarter, the REIT has continued to work through its remaining 2022 mortgage maturities with only $92 million of 2022 maturities remaining to be renewed or up-financed as of July 31, 2022. As of July 31^st, the variable rate debt exposure has been reduced to 7.2%, the weighted average interest rate has increased to 2.99% and the average life to maturity has been extended to over 5 years.

Net income for Q2 2022 was $77.6 million, an increase of $16.5 million compared to Q2 2021. This difference was due primarily to the fair value gain on financial liabilities which was $31.2 million in Q2 2022, versus a loss of $16.0 million in Q2 2021 due to movements in the REIT’s unit price. Also contributing was a fair value gain on investment properties of $27.8 million and an increase in net operating income of $4.9 million offset by a $2.9 million increase in financing costs, as well as a $1.0 million increase in administrative costs.

At $18.9 million ($0.131 per Unit – diluted), FFO increased by 6.3% compared to Q2 2021 ($17.8 million or $0.124 per Unit – diluted), resulting in 5.6% growth on a per Unit basis. AFFO grew from $15.7 million ($0.110 per Unit – diluted) in Q2 2021 to $16.3 million ($0.113 per Unit – diluted) in Q2 2022, representing 3.8% and 2.7% growth on an absolute and per Unit basis, respectively.

Enhancing environmental profile with new build acquisition in Q2 2022

On June 30, 2022, InterRent closed on the acquisition of a recently constructed luxury 254-suite apartment community in Brossard on the south shore of Montreal for $109.3 million⁽¹⁾. With stand-out sustainability features, the community boasts 25% better GHG emissions and energy performance than building code requirements and led to CMHC-insured financing that qualified under the MLI Select program using energy efficiency and GHG emission criteria.

Date	Property	City	Region	Ownership Interest	Suites	Price ($m)
Jan 24, 2022	2183 W 44th Ave	Vancouver	GVA	50%	36	16.5
Feb 28, 2022	1918 Haro St	Vancouver	GVA	50%	21	9.1
Jun 30, 2022	8405 Place St-Charles	Brossard	GMA	50%	254	109.3
Total YTD Acquisitions					311	134.9(2)

(1)		At 100% share; $54.6 million based on InterRent’s ownership interest.
(2)		At 100% share; $67.4 million based on InterRent’s ownership interest.

Commenting on the results published today, Brad Cutsey, President & CEO of InterRent, said: “Our financial results for the second quarter of 2022 demonstrate the resilience of our business model despite ongoing macro headwinds. Although we are navigating short-term challenges of inflation and interest rate volatility, one constant remains – at InterRent, we remain steadfast in our mission to create communities where people are proud to call home. We see encouraging demand trends going into Q3 and look forward to sharing our progress in the coming months.”

Financial Highlights

Selected Consolidated Information In $000’s, except per Unit amounts and other non-financial data	3 Months Ended June 30, 2022			3 Months Ended June 30, 2021			Change
Total suites		12,573(1	)		11,850(1	)	+6.1%
Average rent per suite (June)	$	1,433		$	1,339		+7.1%
Occupancy rate (June)		95.1	%		91.5	%	+360 bps
Operating revenues	$	52,831		$	44,966		+17.5%
Net operating income (NOI)	$	33,635		$	28,765		+16.9%
NOI %		63.7	%		64.0	%	-30 bps
Same Property average rent per suite (June)	$	1,416		$	1,334		+6.2%
Same Property occupancy rate (June)		95.6	%		92.2	%	+340 bps
Same Property operating revenues	$	46,698		$	42,660		+9.5%
Same Property NOI	$	29,772		$	27,333		+8.9%
Same Property NOI %		63.8	%		64.1	%	-30 bps
Net Income	$	77,607		$	61,066		+27.1%
Funds from Operations (FFO)	$	18,880		$	17,766		+6.3%
FFO per weighted average unit – diluted	$	0.131		$	0.124		+5.6%
Adjusted Funds from Operations (AFFO)	$	16,262		$	15,672		+3.8%
AFFO per weighted average unit – diluted	$	0.113		$	0.110		+2.7%
Distributions per unit	$	0.0855		$	0.0814		+5.0%
Adjusted Cash Flow from Operations (ACFO)	$	16,648		$	17,738		-6.1%
Debt-to-GBV		37.3	%		34.4	%	+290 bps
Interest coverage (rolling 12 months)	3.19x			3.53x			-0.34x
Debt service coverage (rolling 12 months)	1.82x			1.90x			-0.08x

(1)

Represents 11,965 (2021 – 11,520) suites fully owned by the REIT and 1,214 (2021 – 659) suites owned 50% by the REIT.

Conference Call

Management will host a webcast and conference call to discuss these results and current business initiatives on Tuesday, August 9, 2022 at 10:00 AM EST. The webcast will be accessible at: https://www.interrentreit.com/2022-q2-results. A replay will be available for 7 days after the webcast at the same link. The telephone numbers for the conference call are 1-888-886-7786 (toll free) and 416-764-8658 (international). No access code required.

About InterRent

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

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

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

*Non-GAAP Measures

InterRent prepares and releases unaudited quarterly and audited consolidated annual financial statements prepared in accordance with IFRS (GAAP). In this and other earnings releases, as a complement to results provided in accordance with GAAP, InterRent also discloses and discusses certain non-GAAP financial measures, including Gross Rental Revenue, NOI, Same Property results, Repositioned Property results, FFO, AFFO, ACFO and EBITDA. These non-GAAP measures are further defined and discussed in the MD&A dated August 9, 2022, which should be read in conjunction with this press release. Since Gross Rental Revenue, NOI, Same Property results, Repositioned Property results, FFO, AFFO, ACFO and EBITDA are not determined by GAAP, they may not be comparable to similar measures reported by other issuers. InterRent has presented such non-GAAP measures as Management believes these measures are relevant measures of the ability of InterRent to earn and distribute cash returns to Unitholders and to evaluate InterRent’s performance. These non-GAAP measures should not be construed as alternatives to net income (loss) or cash flow from operating activities determined in accordance with GAAP as an indicator of InterRent’s performance.

Cautionary Statements

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

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

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

^{___________________________________}

Contacts

Sandy Rose, CFA

Director – Investor Relations & Sustainability

(514) 704-2459

sandy.rose@interrentreit.com
www.interrentreit.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or “the Trust”) (TSX: PMZ.UN) announced today it has entered into a $200 million term loan, aligning to Primaris’ unsecured debt strategy, enhancing financing flexibility and liquidity.

The $200 million, unsecured, non-revolving, delayed-draw term loan carries an annual rate of BA + 150 basis points, maturing on February 5, 2026. Primaris may fix the interest rate on all or a portion of this term loan. Six Canadian banks participated in the syndicate, led by Desjardins Capital Markets and TD Securities. Proceeds from the loan will repay the mortgages maturing in the fourth quarter of 2022.

“This term loan provides us with funds to refinance most of the remaining 2022 expiring mortgage debt at very attractive terms, and complements our well-laddered debt maturity profile,” said Rags Davloor, Chief Financial Officer. “Secured debt as a percentage of total debt drops below 30% and our unencumbered asset pool reaches 85% by year end. This loan allows us to actively manage our property portfolio while providing maximum flexibility to maintain a well-laddered debt maturity profile and optimize our cost of capital.”

LSERM Eligibility

As per the IIROC Notice 22-0124, as of August 26, 2022, units of Primaris will be listed on the “List of Securities Eligible for Reduced Margin” (“LSERM”). LSERM provides guidance for investment dealers allowing enhanced margin lending, contributing to greater trading liquidity. More information can be found on IIROC’s website or by clicking here.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in dominant enclosed shopping centres in growing markets. The portfolio totals 11.3 million square feet and is valued at approximately $3.2 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

Forward-Looking Statements Disclaimer

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

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

TSX: PMZ.UN

www.primarisreit.com www.sedar.com

TORONTO–(BUSINESS WIRE)–Slate Office REIT (TSX: SOT.UN) (the “REIT”), an owner and operator of high-quality workplace real estate, announced today that the Q2 2022 earnings call transcript and investor update are now available on the REIT’s website and can be accessed by visiting the following links:

• Slate Office REIT – Q2 2022 earnings call transcript
• Slate Office REIT – Q2 2022 investor update

About Slate Office REIT (TSX: SOT.UN)

Slate Office REIT is a global owner and operator of high-quality workplace real estate. The REIT owns interests in and operates a portfolio of strategic and well-located real estate assets in North America and Europe. A majority of the REIT’s portfolio is comprised of government and high-quality credit tenants. The REIT acquires quality assets at a discount to replacement cost and creates value for unitholders by applying hands-on asset management strategies to grow rental revenue, extend lease term and increase occupancy. Visit slateofficereit.com to learn more.

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.

SOT-FR

Contacts

For Further Information
Investor Relations

+1 416 644 4264

ir@slateam.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 Q2 2022 earnings call transcript and investor update are now available on the REIT’s website and can be accessed by visiting the following links:

• Slate Grocery REIT – Q2 2022 earnings call transcript
• Slate Grocery REIT – Q2 2022 investor update

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 everyday 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-FR

Contacts

Investor Relations

+1 416 644 4264

ir@slateam.com

TORONTO–(BUSINESS WIRE)–Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the “Company”), a leader in smart buildings and cities through IoT, Cloud and SaaS technology, has entered into a binding Letter of Intent (“LOI”) for a $10 Million HVAC and Automation project (the “Project”), through its wholly owned subsidiary, Global HVAC and Automation Inc. (“Global”). The project relates to a new high rise building in the Greater Toronto Area. The LOI represents a repeat order from an existing customer.

The Project has commenced in Q3 2022 and will be completed over the next 12 months. A final contract is anticipated to be completed in Q3 2022.

“This is a new order from an existing customer and demonstrates our ability to generate repeat business in our solutions and offerings,” said Paul Ghezzi, CEO of Kontrol Technologies. “As we work diligently to consolidate our technology platform, we can offer our customers a unified platform which includes building automation, ongoing software and service as well as large project integration. This unified approach is a key strategic initiative to drive ongoing and repeat business.”

The customer for the project described above is a leading Canadian developer in the multi-family high rise sector with a significant number of projects in various stages of development. For industry competitive purposes the customer will not be named.

Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking statements in this press release include, but are not limited to, statements with respect to the following: entering into of the CDCC contract described in the press release and the timing of completion thereof; completion of the activities contemplated in the LOI and the timing thereof; and the Company’s future business plans and operations.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation: that sufficient capital will be available to the Company and that technology will be as effective as anticipated; that the Company will be able to enter into the final contract described in this press release on the terms and in the timeframe as currently anticipated; that the activities contemplated in the LOI will be completed on the timeframe as currently anticipated; and that the Company’s customers will continue to utilize the Company’s products as currently anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to the following: that the Company will not enter into the CDCC contract described in this press release on such terms as are currently anticipated, or at all; that the Company may encounter delays in carrying out the activities contemplated in the LOI; that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that the Company’s technologies will not prove as effective as expected; that customers and potential customers will not be as accepting of the Company’s product and service offering as expected; and government and regulatory factors impacting the energy conservation industry.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Contacts

Kontrol Technologies Corp.
Paul Ghezzi

CEO

info@kontrolcorp.com
601 Rowntree Dairy Road, Unit B

Vaughan, ON L4L 5T8

Tel: 905.766.0400