AUSTIN, Texas–(BUSINESS WIRE)–Today, BentallGreenOak (BGO) announced the opening of a new office in Austin, Texas, to be led by Mike Leifeste, the firm’s newly hired Managing Director and Head of Texas Coverage. BGO’s continued expansion in the U.S. includes a significant growth in the firm’s client base and investment management activity in the U.S. sunbelt states.

Leifeste’s responsibilities in this newly created role will include a focus on deepening BGO’s investor relations activities in the region and serving as a critical touch point on current and future acquisitions in Texas while developing new operating and developer partner relationships.

BGO, on behalf of its clients and strategies, manages over $2.3 billion in commercial real estate and land for development in Texas — over 90% of which is in modern industrial/logistics and multi-family residential. BGO expects to more than double that value over the coming years.

“Mike brings tremendous knowledge and capability to our team in a region of significant importance to our firm, and we are eager to establish our presence in the region under his strong leadership,” said John Carrafiell, co-CEO and founding member of BentallGreenOak. “We share with Mike a common culture of client-centricity and a belief in the importance of investing in local capability to bring our investor clients closer to the action.”

Leifeste joins BGO from Texas Treasury Safekeeping Trust Company (TTSTC), where he served in various capacities for the past 24 years, including most recently as Head of Real Estate and Real Assets for the past seven years. In his previous role, Leifeste was responsible for TTSTC’s 15% allocation to real assets and private equity energy investments, including a portfolio of real estate, private equity, and private credit funds that consisted of over 85 funds and more than $2 billion in commitments.

“I am pleased to be joining BentallGreenOak at an exciting and high growth period for the firm, with a clear and ambitious mandate for developing our investor and partner relationships, and a real estate portfolio that is built to respond to the economic and social aspirations of the state of Texas, now and into the future,” said Mike Leifeste, Managing Director and Head of Texas Coverage, BentallGreenOak. “BGO’s timely presence in Austin will enable us to draw on the strength of our local relationships and knowledge base to deliver outcomes that bode well for our investor-clients, our future tenants and residents, and the broader communities in which they will reside.”

Leifeste graduated from Texas A&M University with a Bachelor of Business Administration and received an MBA from Texas State University. He is a Chartered Alternative Investment Analyst (CAIA) and Chartered Financial Analyst (CFA) charterholder.

About BentallGreenOak

BentallGreenOak is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $74 billion USD of assets under management (as of December 31, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 28 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.

BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.

The assets under management shown above includes real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

For more information, please visit www.bentallgreenoak.com

Contacts

Media

Rahim Ladha

Global Head of Communications

media@bentallgreenoak.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announced today that it has established an automatic securities purchase plan (“ASPP”) in respect of its previously announced normal course issuer bid (“NCIB”).

Under the terms of the NCIB, which commenced on March 9, 2022, Primaris is permitted to purchase for cancellation up to a maximum of 7,498,679 of its Series A units (“Units”) through the facilities of the TSX and Canadian alternative trading systems. Under the terms of the ASPP, the Trust’s broker will be permitted to purchase Units in accordance with certain prearranged trading parameters, during periods when Primaris would not ordinarily be active in the market because of internal trading blackout periods, insider trading rules or otherwise.

Since the commencement of the NCIB through the close of trading on March 31, 2022, the Trust has repurchased for cancellation an aggregate of 201,000 Units at a weighted average purchase price of $15.49 per Unit.

About Primaris

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 11.5 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 Information

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 the Trust’s plans, objectives, expectations and intentions with respect to the purchase of Units under the NCIB.

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 Primaris’ management’s discussion and analysis and annual information form, which are 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

Category: Corporate

LADERA RANCH, Calif.–(BUSINESS WIRE)–Strategic Storage Trust VI, Inc. (“SST VI”), a publicly-registered real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc. (“SmartStop”), announced today the acquisition of two recently-constructed self storage facilities in the Portland MSA. These represent the ninth and tenth acquisitions in SST VI. Since SST VI launched as a private REIT in the first quarter of 2021, the REIT has purchased approximately $124 million of self storage facilities and land parcels to be developed into self storage.

“We are extremely excited to enter the Portland market with these two fantastic newly constructed properties,” said Wayne Johnson, Chief Investment Officer of SST VI. “With our tenth acquisition in the REIT, we believe we are amassing a very high quality portfolio that we expect will create strong value for stockholders.”

Located at 4836 SE Powell Blvd, the newly constructed facility in Portland, OR is about three miles east of downtown. Opened in June of 2020, the three-story facility is composed of approximately 56,500 square feet of rental space. The facility’s 520 units are 100% climate controlled with a blend of drive-up, first-floor and elevator-access units. This location is well positioned to serve the areas of Richmond, Hawthorne, Hosford-Abernethy, Reed, Creston-Kenilworth, South Tabor and Southeast Portland and has direct frontage on the corner of SE Powell Blvd and SE 49th Ave with additional visibility from SE Foster Ave. The facility is located in a high density, mature, and moderate income area that is currently experiencing a revitalization.

The Vancouver, WA facility, which opened in February 2020, is located at 16600 SE 18^th Street in the Fisher’s Landing neighborhood. It offers approximately 99,200 square feet of rental space and 1,090 units, 100% of which is interior climate controlled. This location serves the areas of Northfield, Cascade Highlands, Fisher’s Landing East, Countryside Woods and Bella Vista and has visibility SE 15^th Street and SE 164^th Street. The facility is surrounded by high quality retail and very dense and affluent residential communities. It also has desirable amenities including a sophisticated security system, secured and alarmed doors, gated entry, LED lighting.

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

SST VI is a Maryland corporation that intends to qualify as a REIT for federal income tax purposes. SST VI’s primary investment strategy is to invest in income-producing and growth self storage facilities and related self storage real estate investments in the Unites States and Canada. As of March 31, 2022, SST VI has a portfolio of eight operating properties in the United States comprising approximately 5,190 units and 543,195 rentable square feet and joint venture interests in two development properties in Toronto, Ontario.

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

SmartStop is a self-managed REIT with a fully integrated operations team of approximately 420 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of March 31, 2022, SmartStop is one of the largest self storage companies in North America, with an owned and managed portfolio of 165 properties in 19 states and Ontario, Canada and comprising approximately 112,000 units and 12.8 million rentable square feet. SmartStop and its affiliates own or manage 19 operating self storage properties in the Greater Toronto Area, which total approximately 16,200 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-429-3331

IR@smartstop.com

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting first quarter 2022 results on Wednesday, April 27, 2022 after-market hours.

Management will host a conference call the next day on Thursday, April 28, 2022 at 9:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial (240) 789-2714 or (888) 330-2454 and enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

About Choice Properties Real Estate Investment Trust

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

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

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

Contacts

Angelica Muere

Senior Manager, Marketing and Communications

T 416 628-7794

E Angelica.Muere@choicereit.ca

New survey shows appetite for a new homeownership model

TORONTO–(BUSINESS WIRE)–As home prices continue to rise in Canada, the dream of homeownership is getting further out of reach for Canadians. New data shows the undeniability as almost all Canadians believe homeownership accessibility is a problem in Canada (96%) and nine in 10 aspiring homeowners feel locked out of ever owning a home.

Results from the Home Ownership in Canada Study, which surveyed 2,000 Canadian adults, revealed nearly half (45%) of Canadians are renting their home or live with family while the other half (55%) own their home. For those renting or living with family, four in 10 (44%) have aspirations of buying a home within the next 10 years.

Rising home prices make that a challenge. The average home price in Canada rose to $816,720 in February – a 20% increase from the previous year. Since February 2020, the average home price has increased by 50% from $542,286. Saving for the recommended 20% down payment is a barrier for more than three in four aspiring homeowners.

“Rising home prices have outpaced wages, making it impossible for Canadians to get ahead. And with rising interest rates and inflation, the affordability gap is tougher than ever to close,” explained Rob Richards, co-founder and CEO of Key. “We created Key to make the dream of homeownership a reality for people. The reality is, this crisis is a complex problem that has no single silver bullet – it requires partnership and innovation to build new pathways to homeownership.”

Key launched a co-ownership model in November 2021 to help Canadians get on the property ladder sooner by removing the two biggest barriers that keep most people from owning. The tech-enabled model provides an opportunity to co-own a home to live in and build equity from day one, with a small down payment of 2.5 percent of the home’s value, and without having to take on a mortgage. Key aligns real estate investor capital with resident capital to underwrite the cost of homeownership, making it more affordable for residents.

Canadians are looking at this as a potentially attractive solution – in the survey when informed about Key’s co-ownership model, an overwhelming 90% of Canadians felt it would make homeownership more accessible. Moreover, seven in 10 Canadians believe co-ownership is a better solution than rent-to-own models for making homeownership more accessible and affordable.

“Since launching, we’ve had more than 5,000 Canadians join our waitlist that continues to grow each week,” shared Daniel Dubois, co-founder and president of Key. “In order to build a more equitable path forward for Canadians, we need private capital, supply partners and government support to shape solutions to address the growing homeownership crisis.”

To learn more about Key, visit lifeatkey.com.

About Key

Key is a Toronto-based real estate technology company founded in 2018. Key has developed the world’s first all-digital, on-demand homeownership platform. With Key’s patent-pending model, renters can become homeowners many years sooner. The model is enabled by property owners allowing owner-residents to contribute as little as 2.5% of the value of their home, without needing to qualify for a mortgage. To learn more, visit lifeatkey.com.

Survey Methodology

The survey was conducted online with 2,000 Canadians aged 18 and over from February 17 to 23, 2022. A random sample of panelists was invited to complete the survey from a set of partner panels based on the Lucid exchange platform. These partners are double opt-in survey panels, blended to manage out potential skews in the data from a single source.

The margin of error for a comparable probability-based random sample of the same size is +/- 2.%, 19 times out of 20. The data were weighted according to census data to ensure that the sample matched Canada’s population according to age, gender, educational attainment, and region. Totals may not add up to 100 due to rounding.

Contacts

Media Contact
Lisa Cimini

Edelman for Key

lisa.cimini@edelman.com

This press release constitutes a “designated news release” for the purposes of Dream Industrial REIT’s prospectus supplement dated November 30, 2021 to its short form base shelf prospectus dated November 26, 2021.

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.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH U.S. NEWS OR WIRE SERVICES

TORONTO–(BUSINESS WIRE)–Dream Industrial Real Estate Investment Trust (TSX: DIR.UN) (the “Trust” or the “REIT”) today provided an update on its capital deployment activity and announced the launch of a $200 million senior unsecured debenture offering at an effective fixed interest rate of 2.041% after swapping to Euros.

ACQUISITIONS UPDATE

The Trust’s pace of capital deployment remains strong as it continues to execute on its growth strategy. Since the beginning of 2022, the Trust has closed on three assets totalling 360,000 square feet and one 50-acre land site, for a total purchase price of approximately $99 million. In addition, the Trust has waived on approximately $157 million¹ of acquisitions across Canada and Europe, as well as two land sites in Canada for $35 million. Moreover, the Trust has an additional $340 million of acquisitions in exclusive negotiations across Canada and Europe. The average capitalization rate on the income-producing assets that have closed or are firm or in advanced negotiations equates to 4.5%. Subject to satisfactory due diligence, the Trust expects the majority of these acquisitions to close in the first half of 2022.

• In Canada, the Trust closed or waived on 179,000 square feet of income-producing assets located in the Greater Toronto Area (“GTA”) for $40 million. These well-located assets are in close proximity to multiple highways and have the potential to significantly enhance cash flows as the Trust sets rents on expiring leases to market. The average in-place rent at these buildings is approximately 50% below market rent, with a weighted average lease term of 3.5 years. In addition, the Trust has closed or waived on three sites totalling 80 acres in the GTA and the Balzac sub-market of Calgary for approximately $49 million. These sites are expected to support the development of one million square feet of high-quality modern logistics space in the near-to-medium term. Moreover, the Trust is in exclusive negotiations on 625,000 square feet of assets located primarily in the GTA for approximately $174 million.

• In Europe, the Trust closed or waived on 1.3 million square feet of assets totalling €145 million ($201 million) across key markets in Germany and the Netherlands. These assets have strong potential to grow rental rates over the medium term, as well as enhance yields through the development of excess density. In addition, the Trust is in exclusive negotiations on approximately 1.5 million square feet of assets across Germany and the Netherlands for €120 million ($167 million).

“Our geographic diversity provides us with a breadth of opportunities and our on-the-ground team with deep local relationships has a proven track record to source attractive investments, allowing us to add scale at strong economics to the REIT,” said Brian Pauls, Chief Executive Officer of the Trust. “The acquisitions in our pipeline enhance our portfolio quality, add scale in our core markets and position us well to drive steady growth in diluted FFO per unit² and NAV per unit² over time.”

Recently completed/waived acquisitions

• A 128,000 square foot single-tenant distribution asset located in the heart of the Randstad, in the Netherlands for €26 million ($36 million). The facility is just off the A12 motorway, providing good accessibility to nearby Rotterdam (~23 km), Utrecht (~24 km) and The Hague (~28 km). Built in 2019, the building has a clear height of 40 feet and is 100% occupied by a tenant in the food and beverage sector with a weighted average lease term (“WALT”) of 10 years. Included in the purchase price was an adjacent 2.5-acre development-ready site, which is expected to support the addition of a 90,000 square foot building. The Trust expects the incremental yield on cost from the expansion (including the cost of the land) to be over 5%.

Randstad Asset

See Figure 1, Randstad Asset

• A 147,000 square foot single-tenant facility located between the Randstad in the Netherlands and the Rhine-Ruhr region in Germany for €19.2 million ($26 million). The asset’s proximity to the A50 and A73 motorways results in easy access to large population centres in the Netherlands and Germany. Built in 2016, the modern logistics building has a clear height of up to 40 feet and is leased to a U.S.-based global manufacturer of power equipment parts, with 9.5 years remaining on the fully indexed lease.

Nijmegen Asset

See Figure 2, Nijmegen Asset

• A 472,000 square foot single-tenant logistics facility located near Hanover in Germany. The asset is located in close proximity to the A2 and A30 motorways and is well-suited for a logistics provider with the clear height ranging up to over 52 feet. It is currently 100% occupied by a logistics company specializing in the pet care and food industry. The Trust expects the purchase price to be €48.5 million ($67 million).

Hanover Asset

See Figure 3, Hanover Asset

• A 119,000 square foot single-tenant logistics facility located in Bavaria, one of the strongest economic regions of Germany. The asset is located in close proximity to the A7 motorway network that provides easy connectivity to Stuttgart (~2 hours), Munich (~3 hours) and Frankfurt (~2 hours). Built in 2017, the asset has a clear height of 36 feet and is 100% occupied by a logistics company and is being acquired through a sale-leaseback transaction. The Trust expects the purchase price to be €19 million ($26 million). There are also nearly 3.2 acres of excess land included in the purchase price that are expected to add approximately 60,000 square feet of incremental gross leasable area (“GLA”) over time.

Bavaria Asset

See Figure 4, Bavaria Asset

• A 213,000 square foot single-tenant distribution asset located in Gütersloh, Germany. The property is directly adjacent to the A2 motorway, one of Germany’s most frequented logistics routes. The property is 100% occupied by a global appliance and electronics brand with a WALT of 9 years with embedded rent steps equating to average annual contractual rental rate growth of 1.5% over the term of the lease. The Trust expects the purchase price to be approximately €17.5 million ($24 million).

Gütersloh Asset

See Figure 5, Gütersloh Asset

• A 94,000 square foot single-tenant building located in the GTA, just north of the Queen Elizabeth Way highway, in Burlington. The asset is 100% occupied with in-place rent 44% below market. This acquisition fits the Trust’s clustering strategy to add scale in strong sub-markets which are exhibiting strong rental rate growth. The Trust expects the purchase price to be $18 million.

DEVELOPMENTS UPDATE

The Trust expects to invest over $150 million to fund development and value-add initiatives over the balance of this year.

• The Trust is currently underway on the construction of approximately 850,000 square feet of development and intensification projects across Canada and Europe, most of which are expected to be completed over the balance of 2022. As of December 31, 2021, the Trust incurred costs totalling $33 million (including cost of land purchased for new development projects as well as associated closing costs) and estimates the remaining costs on these projects to be $104 million. Overall, the Trust expects these projects to result in an unlevered yield on cost of 6.6%.
• The Trust intends to commence construction on its first redevelopment project in the GTA in mid-2022. The Trust currently owns a cluster of three buildings along Courtney Park Drive in Mississauga totalling 212,000 square feet. The buildings are situated on 10 acres of land located in close proximity to Highways 401 and 410, near Dixie Road in Mississauga. This is one of the strongest industrial sub-markets in the country with the average industrial availability rate well under 1%. The Trust intends to redevelop the complex into a brand-new state-of-the art logistics facility with completion expected in 2023. The Trust is evaluating the feasibility of developing a net zero carbon facility upon completion. With an overall construction cost budget of approximately $30 million, the Trust expects to achieve unlevered yield on cost of above 5%, including the current IFRS carrying value of the assets.

GTA Redevelopment

See Figure 6, GTA Redevelopment

• The Trust has waived on a 20-acre site in the Balzac sub-market of Calgary for a purchase price of $12 million. The site has excellent connectivity to the airport as well as downtown Calgary. Combined with the Trust’s recent acquisition of a 50-acre site for $14 million in the same sub-market, the two sites can support the development of approximately 800,000 square feet of modern urban logistics product. The Trust expects unlevered yield on cost of approximately 6% on stabilization.

FINANCING UPDATE

The Trust announced today that it has priced a private placement of senior unsecured debentures (the “Offering”) consisting of C$200 million aggregate principal amount of 3.968% Senior Unsecured Debentures, Series E maturing on April 13, 2026 (the “Series E Debentures”). The Offering is the Trust’s third “green bond”, following C$650 million of issuances in 2021.

The Series E Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., Scotia Capital Inc., RBC Dominion Securities Inc. and CIBC. The Series E Debentures are being offered on a private placement basis in each of the provinces of Canada in reliance upon exemptions from the prospectus requirements under applicable securities legislation.

Upon closing of the Offering, the Trust plans to convert the proceeds into Euros through cross-currency interest rate swap arrangements, which is expected to result in an effective fixed interest rate of 2.041%. The closing of the Offering is expected to take place on April 13, 2022.

The Series E Debentures will be issued at a price equal to $1,000 per $1,000 principal amount and bear interest at a rate of 3.968% per annum and will mature on April 13, 2026. Interest is payable on the Series E Debentures on April 13 and October 13 of each year commencing on October 13, 2022. The Series E Debentures will be direct senior unsecured obligations of the Trust and will rank equally and rateably with all other unsecured and unsubordinated indebtedness of the Trust, except to the extent prescribed by law.

The Series E Debentures are expected to be rated BBB (stable) by DBRS Limited. An amount equal to the net proceeds from the Offering is expected to be utilized to finance and/or refinance eligible green projects within the meaning of the Trust’s Green Financing Framework (“Framework”) established in June 2021. Prior to allocation of the net proceeds of this Offering to eligible green projects, the net proceeds may be initially used to fund future acquisitions and development costs, repay existing indebtedness, and for general trust purposes. The Trust’s Framework has been reviewed by DNV, a global leader in pioneering green, social, and sustainable frameworks, and is aligned with the International Capital Markets Association Green Bond Principles 2018 and the Loan Market Association Green Loan Principles 2021.

“We continue to incorporate sustainability and impact investing principles to how we do business and create long term value for our stakeholders,” said Lenis Quan, Chief Financial Officer of Dream Industrial REIT. “We have already allocated or committed close to $500 million of proceeds from our Green Bond issuances last year, well ahead of schedule. We continue to see significant opportunities to add energy efficient buildings to our portfolio through our acquisition program and rapidly expanding development pipeline, while also investing in energy efficient lighting, sustainable roofing as well as renewable power infrastructure within our existing portfolio.”

The Series E Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer or sale of the Series E Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Series E Debentures will not be listed on any stock exchange and there will be no market for such securities. The Series E Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States and may not be offered or sold to other persons who are not residents of a province of Canada.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series E Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at December 31, 2021, Dream Industrial REIT owns, manages and operates a portfolio of 239 industrial assets (351 buildings) comprising approximately 43 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.

Non-GAAP ratios

The Trust’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). In this press release, as a complement to results provided in accordance with IFRS, the Trust discloses and discusses certain non-GAAP ratios, including diluted FFO per Unit and NAV per Unit as well as other measures discussed elsewhere in this press release. Diluted FFO per Unit is comprised of FFO (a non-GAAP financial measure) divided by the weighted average number of Units. NAV per Unit is comprised of total equity (including LP B Units) (a non-GAAP financial measure) divided by the total number of Units. These non-GAAP ratios are not defined by IFRS and do not have a standardized meaning under IFRS. The Trust’s method of calculating these non-GAAP ratios may differ from other issuers and may not be comparable with similar measures presented by other issuers. Certain additional disclosures such as the composition, usefulness and changes, as applicable, of the non-GAAP ratios included in this press release have been incorporated by reference from the management’s discussion and analysis of the financial condition and results from operations of the REIT for the three months and year ended December 31, 2021, dated February 15, 2022 (the “MD&A for the fourth quarter of 2021”) and can be found under the sections “Non-GAAP Financial Measures” and “Non-GAAP Ratios” and respective sub-headings labelled “Funds from operations (“FFO”)”, “Diluted FFO per Unit” and “Net asset value (“NAV”) per Unit”. The MD&A for the fourth quarter of 2021 is available on SEDAR at www.sedar.com under the Trust’s profile and on the Trust’s website at www.dreamindustrialreit.ca under the Investors section. Non-GAAP ratios should not be considered as alternatives to comparable metrics determined in accordance with IFRS as indicators of the Trust’s performance, liquidity, cash flow, and profitability.

Forward Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, statements regarding the intended use of proceeds of the Offering; statements regarding the Trust’s objectives and strategies to achieve those objectives; the Trust’s strategy to upgrade its portfolio quality; the Trust’s ability to acquire high-quality assets; the Trust’s ability to deliver attractive overall returns to its unitholders; the anticipated timing of closing of the acquisitions referred to in this press release, including the anticipated closing, purchase price and value of acquisitions under contract or in exclusivity; the expected rating of the Series E Debentures; the anticipated closing of the Offering; the ability of the Trust to maintain exclusive negotiations on certain assets and the Trust’s ability to close on such negotiations; the Trust’s acquisition pipeline; the Trust’s pipeline of capital deployment opportunities and its ability to generate compelling returns; the size and successful outcomes of any of the Trust’s plans for development and value-add initiatives; expectations regarding cash flow and the potential of the Trust’s assets to increase cash flow over time; expectations regarding growth in rental rates; the addition of incremental GLA over time; the Trust’s expectations and plans for the development of buildings, including a high-quality modern logistics space in the near-to-medium term; the Trust’s plans for developing a net zero carbon facility; the Trust’s ability to access capital and to maintain its strong growth trajectory; the Trust’s development, expansion, redevelopment and intensification plans, including the timing of construction and expansion, expectations regarding redevelopment potential, costs, timing of completion of the Trust’s developments and anticipated yields; the Trust’s plans to convert the proceeds of the Offering into Euros through cross-currency interest rate swap arrangements; the ranking of the Series E Debentures and the Trust’s expectations regarding growth in diluted FFO per unit and NAV per unit over time. 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, including those associated with the ability to lease vacant space; 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, historically low rates and 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 MD&A. These filings are also available at the Trust’s website at www.dreamindustrialreit.ca.

¹ Expected purchase price of European assets that are firm or in exclusive negotiations translated to Canadian dollars using an exchange rate of €1.00=C$1.3881

² Diluted FFO per unit and NAV per unit are non-GAAP ratios. For further information on these non-GAAP ratios, please refer to the statements under the heading “Non-GAAP ratios” in this press release.

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

VANCOUVER, British Columbia–(BUSINESS WIRE)–Marking a big shift in helping to reduce CO2 emissions in construction across Western Canada, Lafarge announced today that their Richmond plant will manufacture only OneCem, the company’s lower carbon portland limestone cement for use in materials across BC and the Pacific Northwest.

Lafarge has converted the entire facility to OneCem – ensuring that all cement produced there maximizes reductions. “OneCem is one of our many answers to building sustainably,” shares Brad Kohl, President & CEO of Lafarge in Western Canada. “OneCem offers all the same performance and qualities as standard cements, but with significantly less CO2 emissions.”

Using OneCem in concrete decreases CO2 emissions while ensuring the same level of strength and durability as concrete produced with regular portland cement. “The built environment plays a central role in the transition towards a low-carbon economy,” says Dr. Rob Shogren, Technical Director Cement North America . “We can make concrete more sustainable when we adjust how it is produced and used.”

“This has been a long term goal for our operations,” explains Cory Cannon, VP of Sales and Logistics. “Through collaboration with municipalities, constructors, and engineers, we have encouraged the shift away from standard cements and converting to OneCem since 2011. This commitment means that every product manufactured with OneCem has lower emissions than ever before.”

Richmond services a wide range of markets in Canada and has supplied its Western Canadian and Pacific NW customers with OneCem since 2011. Richmond’s OneCem CO2 emissions per tonne are 20% below the national Canadian average for GU cement. Concurrently, it’s also 13% lower than the national average for other PLC cements manufactured in Canada. Since 2011, when Richmond began producing OneCem, “We have eliminated 1,175,000,000 kilograms of CO2 from our atmosphere. This is equivalent to taking a quarter of a million vehicles off our roads for an entire calendar year,” says Cannon.

“The opportunity for North American cities to build sustainably is significant,” shares Kohl. The impact of reducing CO2 emissions in the built environment has been identified as a key driver in reducing climate change. “Collaborating with local government and stakeholders was key to ensuring its uptake in the market, and conversion away from traditional high intensity cement products,” he says. “As industry leaders we want to facilitate access to low carbon cements across Canada, and starting with Richmond is a big step towards making that happen.”

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 that build better cities and communities. The cities where Canadians live, work and raise their families along with the community’s infrastructure benefit from the solutions provided by Lafarge consisting of aggregates, asphalt and paving, cement, precast concrete, ready-mix concrete, and road construction. www.lafarge.ca

Contacts

Jill Truscott, Manager of Communications jill.truscott@lafargeholcim.com 403-354-5063

TORONTO–(BUSINESS WIRE)–Real Matters Inc. (“Real Matters”), a leading network management services provider for the mortgage lending and insurance industries, will announce its second quarter financial results via news release on Thursday, April 28, 2022, before market open.

Conference Call and Webcast

A conference call to review the results will take place at 10:00 a.m. (ET) on Thursday, April 28, 2022, hosted by Chief Executive Officer Brian Lang and Chief Financial Officer Bill Herman. An accompanying slide presentation will be posted to the Investor Relations section of our website shortly before the call.

To access the call:

• Participant Toll Free Dial-In Number: (833) 247-5856
• Participant International Dial-In Number: (647) 689-4232
• Conference ID: 3552655

To listen to the live webcast of the call:

• Go to: https://event.on24.com/wcc/r/3289578/4E32D8D862FF59C7AA863AB15230EEF5

The webcast will be archived and a transcript of the call will be available in the Investor Relations section of our website following the call.

About Real Matters

Real Matters is a leading network management services provider for the mortgage lending and insurance industries. Real Matters’ platform combines its proprietary technology and network management capabilities with tens of thousands of independent qualified field professionals to create an efficient marketplace for the provision of mortgage lending and insurance industry services. Our clients include top 100 mortgage lenders in the U.S. and some of the largest insurance companies in North America. We are a leading independent provider of residential real estate appraisals to the mortgage market and a leading independent provider of title and mortgage closing services in the U.S. Headquartered in Markham (ON), Real Matters has principal offices in Buffalo (NY), Middletown (RI) and Scottsdale (AZ). Real Matters is listed on the Toronto Stock Exchange under the symbol REAL. For more information, visit www.realmatters.com.

Contacts

Lyne Beauregard

Vice President, Investor Relations and Corporate Communications

Real Matters

lbeauregard@realmatters.com
416.994.5930

LONDON–(BUSINESS WIRE)–#AssetManagement–H.I.G. Capital, LLC (“H.I.G.”), a leading global alternative investment firm with $48 billion of equity capital under management, announced today that one of its affiliates has recently completed the disposal of Urban Garden, a 29,000 sqm newly built office complex in Lyon, France’s second largest economic centre. The buildings were acquired in October 2019 and received a BREEAM excellent rating in 2021. H.I.G. brought the occupancy to 100% six months before the asset completion in May 2021. Terms were not disclosed.

Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners, commented: “Urban Garden is another example of our ability, through our value-add initiatives and hands on asset management approach, to deliver high quality, future-proof assets that appeal to long term institutional investors”.

Mihai Gavriloiu, Principal at H.I.G. Europe Realty Partners, added: “France represents an important part of our European strategy where we continue to seek additional small and mid-cap, value-add, investment opportunities to increase H.I.G.´s presence in this market. We are very pleased with the strong returns we were able to achieve on this exit”.

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with $48 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, Rio de Janeiro, São Paulo and Bogotá, 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

Riccardo Dallolio

Managing Director

rdallolio@higrealty.com

IRVING, Texas–(BUSINESS WIRE)–Fluor Corporation (NYSE: FLR) announced today that Lone Star Constructors, its joint venture with Austin Bridge & Road, has been granted final notice-to-proceed by the Texas Department of Transportation (TxDOT) that releases the full contract value and positions the venture for construction to begin on Phase 2 in summer of 2022 for the Interstate 35E (I-35E) project from Interstate 635 in Dallas to the Denton County line in Carrollton, Texas. The Fluor-led team was initially awarded the contract for this project in July 2021. Fluor booked its share of the approximately $640 million contract value in the third quarter of 2021.

“This project is part of TxDOT’s long-term plan to meet current and future travel demands by improving overall mobility, operational efficiency, accessibility, safety and emergency response,” said Thomas Nilsson, president of Fluor’s Infrastructure business. “When completed, this project will help alleviate traffic congestion to the surrounding communities and improve connectivity for all people in the Dallas metroplex.”

The 6.3-mile design-build project includes full reconstruction and expansion of six existing lanes to eight with new auxiliary lanes at entrance and exit ramps, along with the reconstruction of frontage roads along the corridor. Two existing reversible toll lanes will also be reconstructed.

The project’s anticipated completion is early 2026.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 196 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

#infra

Contacts

Brian Mershon

Media Relations

469.398.7621

Jason Landkamer

Investor Relations

469.398.7222

CARPINTERIA, Calif.–(BUSINESS WIRE)–Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today released the results of its 2022 Customer Return On Invest (ROI) report. The report explores how the Procore platform is helping customers tackle the most daunting challenges in the industry, including sustainability, safety and the labor shortage by analyzing responses from 2,600+ customers across North and South America, Asia and Europe.

Key takeaways include:

• Building Scalable Businesses: Customer respondents state that using Procore enables their project teams to manage 48 percent more construction volume per person, on average.
• Reduced Rework: 75 percent of respondents agree Procore has helped reduce the amount of rework.
• Improved Efficiency: Customer respondents reported saving an average of 15 days on the overall schedule on a typical project.
• Safer Jobsites: 79 percent of customer respondents that use Quality and Safety agree Procore has improved their company’s safety programs.

Rising material costs and supply chain issues, labor shortages, slimming margins, continued project delays, increasing carbon emissions due to rework and waste and the need for more sustainable solutions are just a few obstacles the industry is facing and will continue to face in the years to come.

“We are proud to partner with the construction industry to help them do what they do best; build, maintain and power the places where we live, learn, work and play,” said Tooey Courtemanche, Founder & CEO of Procore. “Each year, our annual ROI report helps industry leaders and construction professionals gain insights into how their peers are leveraging construction tech to grow their businesses. This annual survey and report is one of the many avenues through which we get continuous feedback and work to improve the lives of everyone in our industry through our offerings.”

Key takeaways and supporting customer responses can be found below:

Building Scalable Businesses: Customer respondents believe using Procore enables their project teams to manage on average 48 percent more construction volume per person.

“If we didn’t have Procore, we wouldn’t be able to handle the many projects we have in our pipeline. Procore removes the tedious time-wasters like filling out reports and spreadsheets, giving us time to do other things, like going after more work.” – Marc Vicano, Project Manager, Vicano, General Contractor, Canada

Reduced Rework: 75 percent of customer respondents agree Procore has helped reduce the amount of rework taking place on their projects which leads to less carbon waste, more efficiency and delivering more projects on-time and on-budget.

“Implementing Procore has streamlined five systems into one central platform. We have gained new levels of automation and 100 percent visibility into projects, which lets us focus on enhancing our quality and compliance. Our next phase of implementation will see us introduce our subcontractors into Procore for better efficiency and productivity outcomes.” – Sebastian Jonsson, Director, Greenway, Specialty Contractor, New Zealand

Improved Efficiency: Customer respondents reported saving an average of 15 days on the overall schedule on a typical project.

“Procore saves me at least two hours every week. In the past, I’d spend the first two hours of my day truing-up items in the different systems. Now, all that’s taken care of for me in a few clicks. We’re talking about a total of 30 seconds.” – Gabriel Gutierrez, Financial Controller, Dolan Concrete, Specialty Contractor, United States

Safer Jobsites: 79 percent of customer respondents that use Quality and Safety agree Procore has improved their company’s safety program.

“With Procore, all health and safety issues or areas for improvement are rectified quicker and faster. Communication on health and safety issues has improved which makes sites safer and makes me happy.” – Kamil Kotowski, Head of Health and Safety, Kenham, General Contractor, United Kingdom

Procore’s sole focus is construction, from preconstruction to closeout, the Procore platform is purpose-built and developed to meet the needs of the construction industry. Continually recognized with top honors by leading user review sites such as G2, the Procore platform helps customers produce more value, deliver better project outcomes, and develop stronger, safer, and more productive teams.

To discover the tools that are driving results for construction leaders across the globe, download the Procore 2022 ROI Report today.

About Procore

Procore is a leading global provider of construction management software. Over one 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-IR

Contacts

Media Contact
Andee Brooker

press@procore.com

Investor Contact
Matthew Puljiz

ir@procore.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 the college and university student housing market with the first installation of its SmartSuite® technology.

“We continue to seek to expand into new market verticals such as the growing student housing market,” said Paul Ghezzi, CEO of Kontrol Technologies. “Our SmartSuite® technology is designed to provide building automation and in-suite control over heating, cooling and ventilation through a unified, cloud-based solution. By consolidating the management of each suite and building to one platform, our products are designed to enable our customers across various sectors to drive energy savings and reduce emissions to improve the performance of their buildings.”

How SmartSuite® Technology Operates

Designed for the commercial, multi-residential and hospitality building sectors and driven by the move to smart buildings and smart cities, the SmartSuite® thermostat and cloud technology is designed to deliver energy savings, corresponding GHG emission reductions and a unified platform to manage all suites and buildings from the cloud.

The SmartSuite® capabilities include:

• Real-time energy management and conversation
• Data management, analytics and trending analysis
• Multiple user interfaces
• Integrated with window and door sensors
• Ability to communicate with utilities for demand response

The first SmartSuite® installation is for a student housing REIT which operates across Canada and manages and develops purpose-built rental housing for the university and college student housing market.

According to Cushman & Wakefield, total university-owned (on-campus) and privately-owned (off-campus) housing provide about 145,000 beds in these markets, which represents about 15% of total full-time students. Of this total, about 45,000 beds are located in privately-owned, off-campus student residences.¹

According to the National Multi-Family Housing Association Council (NMHC), there are 8.6 million student beds in the U.S., which will grow to 9.2 million by 2031.²

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

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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 information contained in this press releases includes, but is not limited to, the following: potential benefits of the Company’s products for its customers and potential customers; the growth of the student housing market; the future success of any of Kontrol’s products; and customer demand relating to energy management.

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; that future products of the Company can be installed as planned; that technology will be as effective as anticipated; that existing relationships and contracts entered into by the Company will continue on the same or similar terms, or at all; that the anticipated performance of the installation of and energy saving and emission reduction relating to the SmartSuite will go as planned for the college and university student market; and that demand will continue for energy management products and for the Company’s products in particular.

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, 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 offerings as expected and/or that demand for such products and services will not continue; that Kontrol SmartSuite will not be replicated in the future; that the markets the Company participates in will not expand as currently anticipated; and that the Company will not maintain its existing relationships or contracts on the same terms or at all.

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.

¹ https://www.cushmanwakefield.com/en/canada/insights/canadian-student-housing-outlook
² www.nmhc.org/news/press-release/2021/student-housing-demand-will-remain-strong-but-will-be-more-diverse-and-focused-on-affordability/

Contacts

Kontrol Technologies Corp.
Paul Ghezzi

CEO

info@kontrolcorp.com
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8

Tel: (905) 766.0400

Investor Relations:

Brooks Hamilton

MZ Group – MZ North America

KNRLF@mzgroup.us
Tel: +1 (949) 546.6326