TORONTO–(BUSINESS WIRE)–Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol”) a leader in smart buildings and cities through IoT, Cloud and SaaS technology, announces that today it has revised and refiled its business acquisition report (the “Revised BAR”) in connection with its previous acquisition of all of the issued and outstanding shares of Global HVAC & Automation Inc. (“Global”). The Revised BAR contains interim financial statements of Global for the period ended July 31, 2021, rather than for the period ended June 30, 2021, which was contained in the business acquisition report initially filed with respect to the acquisition of Global. The financial statements have also been revised to address certain deficiencies (such as not including a statement of retained earnings, cash flow statement or notes to the financial statements).

This filing is being made at the request of staff of the Ontario Securities Commission (the “OSC”) in connection with an OSC review being conducted in connection with the filing of a short form base shelf prospectus by Kontrol. The Revised BAR replaces and supersedes the business acquisition report filed by the Company on October 13, 2021, with respect to the acquisition of Global.

Kontrol also wishes to provide an update on its previously disclosed intention to seek a listing on a major US stock exchange, as set out in a previous press release on December 29, 2021. While Kontrol has had preliminary discussions with a US stock exchange in respect of this objective, due to market conditions no formal application to list on any US exchange has been made at this time.

About 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.

Cautionary Note Regarding Forward-looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements“) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes. Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of Kontrol, that may cause the actual results, level of activity, performance or achievements of Kontrol to be materially different from those expressed or implied by such forward looking statements. Although Kontrol has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Kontrol’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by applicable law, Kontrol assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.

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

New initiatives within Daniels’ new mixed-use condominium developments in Regent Park are designed to drive diversity, equity and inclusion while creating local economic opportunities.

TORONTO–(BUSINESS WIRE)–The Daniels Corporation (“Daniels”), one of Canada’s largest and preeminent builders and developers, today announced three new initiatives in Regent Park to drive diversity, equity, inclusion and create opportunities for local economic development. In collaboration with organizations including BlackNorth Initiative (“BNI”) and Akin Community Projects (“Akin”), these initiatives create opportunities for entrepreneurship and the arts in Daniels’ DuEast and Artworks Tower developments in Regent Park.

“We are thrilled to be working with amazing collaborators to bring incredible new arts and entrepreneurship opportunities to Regent Park. As community builders, we strive to leverage our business to help break down barriers faced by artists and entrepreneurs and provide them with access to spaces where they can work and thrive. We recognize that these types of initiatives create economic opportunities and promote diversity, equity and inclusion which ultimately result in vibrant communities,” said Heela Omarkhail, Vice President of Social Impact, The Daniels Corporation.

Work-Live Program in Collaboration with BlackNorth Initiative

Operated by Daniels in collaboration with BNI, Work-Live studios at DuEast Condominiums and Artworks Tower will create opportunities for Black-identifying artists and creatives to access the space at approximately 50 per cent of the market rate. The collaboration will support artists to help develop their practice, showcase their work and build relationships in the local community, while also addressing systemic barriers faced by Black artists in accessing housing, workspaces and economic opportunities. The initiative includes a Social Impact Exchange for artists in the Work-Live studios to participate in community initiatives and activations that meaningfully contribute to the Regent Park neighbourhood.

“We are looking forward to working with Daniels to create real social impact by incorporating arts and entrepreneurship into its new mixed-use developments in order to promote diversity, equity, and inclusion,” says Dahabo Ahmed-Omer, Executive Director of the BlackNorth Initiative. “This initiative offers emerging artists and changemakers from the Black community a unique opportunity to work and live in a creative and culturally vibrant community at reduced rental rates. The BlackNorth Initiative is proud to support and partner where both access and inclusion are priorities.”

From conception through to completion, every Daniels community is designed with social impact in mind and aims to provide opportunities for local artists and businesses to succeed. The DuEast mixed-use development is currently home to contemporary artist, Benny Bing. “Artists are the lifeblood of our community and finding an affordable place to live and create in Toronto is a huge challenge,” said Benny Bing, the inaugural artist participating in Daniels’ Work-Live program. “Daniels’ Work-Live studios provide artists with a space to create, grow and learn, a space to fully thrive at their truest, most full capacity. This initiative continues to show Daniels’ commitment and belief in the power of arts to enrich our lives and build community.”

Collaboration with Akin

Daniels has also announced a collaboration with Toronto-based arts organization, Akin, to provide artists with approximately 2,800 square feet of ground floor retail space at a special rate. Daniels and Akin are working closely to provide affordable artist studio and exhibition spaces, along with community programming and events which aim to support creative endeavors and entrepreneurial undertakings in Regent Park. Like Daniels, Akin is committed to the ongoing work of equity and inclusion.

“Akin is looking forward to deepening our relationship with the Regent Park community along with celebrating its deep history of artistic expression and creativity,” says Oliver Pauk, Director, Akin. “Our location at 658 Dundas Street East will be a creative workspace for 21 artists and a chance to create programming that brings together creatives from this neighbourhood.”

Daniels Entrepreneurship Hub

Inspired by the vision of local entrepreneurs, Daniels has designed the Daniels Entrepreneurship Hub as a resource that will provide workspace for emerging entrepreneurs from Regent Park to grow their businesses. Located in the office component of Daniels DuEast, the Hub will serve as a catalyst for small businesses and will promote knowledge-sharing and collaboration within the community.

“The Daniels Corporation has done a great job in supporting our community through positive development, all while maintaining our existing culture and values,” said Murwan Khogali Ali, Executive Director InfiniGuard Security Protections Inc. “As a community-serving organization, it is really fitting and exciting that we will be included in the Daniels Entrepreneurship Hub that will be located in our Regent Park community.”

About The Daniels Corporation

The Daniels Corporation (www.danielshomes.ca) is one of Canada’s preeminent builders/developers, building more than 35,000 new homes across the Greater Toronto Area for over 38 years. Daniels is the developer of TIFF Bell Lightbox and the City of the Arts community on Toronto’s East Waterfront. Among its many initiatives, Daniels partnered with Toronto Community Housing to redevelop Phases 1, 2 and 3 of the Regent Park revitalization, a 69-acre community in the heart of Toronto. At the core of the project is both a physical and social re-connection of this once stigmatized neighbourhood to the broader City of Toronto. Daniels continues to play an important role in the Regent Park Community. Understanding that quality of life is created by much more than physical buildings, Daniels goes above and beyond to integrate building excellence with opportunities for social, cultural and economic well-being.

Contacts

For more information or to request an interview:
Ema Asler

Kaiser & Partners

(647)-725-2520

ema.asler@kaiserpartners.com

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

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties”) (TSX: CHP.UN) announced today that the trustees of Choice Properties have declared a cash distribution for the month of April, 2022 of $0.061667 per trust unit, representing $0.74 per trust unit on an annualized basis, payable on May 16, 2022 to Unitholders of record at the close of business on April 29, 2022.

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

Mario Barrafato

Chief Financial Officer

Choice Properties REIT

(416) 628-7872

Mario.Barrafato@choicereit.ca

 

Requity Homes’ fair and flexible rent-to-own program allows aspiring home buyers to realize their Canadian dream of home ownership

TORONTO–(BUSINESS WIRE)–Requity Homes, a tech-enabled real estate platform, announced today it has closed CAD$1.2 million in pre-seed funding to fuel its growth as the company scales its approach to creating an alternative path to home ownership in Canada. The financing round was led by Boardwalk Investment Limited (Kolias Family Office) with participation from Highline Beta, Conconi Growth Partners, and several angel investors including Mike Dobbins. As a graduate of the Highline Beta Venture Studio program, Ben Yoskovitz, founding partner of Highline Beta, was appointed to the Requity Homes board of directors.

Requity Homes was founded in 2020 and has been helping families in Northern Ontario since 2021. The Company’s rent-to-own program empowers Canadians to get one step closer to home ownership by allowing them to rent and save for their dream home with the option to purchase at a guaranteed price. The company will use the funding to accelerate the development of its tech-enabled rent-to-own platform; to hire across several strategic technology, marketing, and operations roles; and to expand to Western Canada.

“Requity Homes is a new innovative way to help Canadians reduce barriers to home ownership,” said Sam Kolias, President of Boardwalk Investment Limited and CEO of Boardwalk REIT. “It allows investors to partner with home buyers, helping bridge the gap between renting and owning a home.”

Requity Homes is a steppingstone to home ownership for families that are not mortgage ready today due to credit history, lack of down payment, or self-employment. Leveraging its robust underwriting technology, Requity Homes can assess aspiring homebuyers’ future mortgage capability. For clients who have the financial means to afford home ownership and may qualify for a mortgage in the next two to three years, Requity Homes will purchase the home of the clients’ choice upfront so that they can move into the home as a renter while working with Requity Homes to get ready for a mortgage. When clients are ready, they can buy back the home at a predetermined price and become a proud homeowner. The program helps to bridge the gap between renting and owning by giving renters the price security and certainty to save towards ownership, while allowing them to enjoy the benefits of living in their dream home today and saving towards their down payment one month at a time.

“With the rising cost of home ownership, it has become increasingly out of reach for many families,” said Amy Ding, CEO of Requity Homes. “At Requity Homes, we are offering a fair and flexible alternative path to home ownership by introducing more innovative financing options to an underserved market.”

Amanda and Brad are early clients of Requity Homes. They recently started a new tourism business in Sault Ste Marie. While the business is doing well, they don’t have the two years of operating history as required by traditional mortgage lenders. “Our biggest obstacle was being a new small business owner, so we didn’t qualify with any major banks to get a mortgage,” said Amanda. “Working with Requity Homes made the most sense for us in our situation as we are closer now to owning our own home than we previously thought possible.”

About Requity Homes

Requity Homes Inc. is on a mission to create a fair and flexible alternative path to home ownership in Canada by offering a modernized rent-to-own program that enables aspiring home buyers to live in their dream home today with the option to buy it back later while saving for their down payment one month at a time. The program is currently available throughout Northern Ontario (Sudbury, North Bay, Sault Ste. Marie and Thunder Bay) with plans to expand into Western Canada by summer 2022. For additional information, visit RequityHomes.com

Contacts

Requity Homes

Amy Ding

Media@requityhomes.com

MONTREAL–(BUSINESS WIRE)–#bhhs—Berkshire Hathaway HomeServices Québec, part of one of the largest global real estate brokerage franchise networks in the world, with more than 50,000 sales professionals in over 1500 offices throughout the U.S., Canada, Europe, the Middle East and India welcomes renowned residential and commercial real estate broker Marc Smadja to the brand.

Smadja, previously with Engel and Völkers in Montreal, has made a name for himself as a highly respected and successful broker representing his loyal clientele with the utmost passion and dedication. His unquestionable business ethics have also allowed him to gain both the respect and trust of his colleagues in the field. Working with buyers and sellers in the West Island and Downtown regions of Montreal, he wanted to associate himself with a brokerage that could benefit the best interests of his clients and allow him to take his career to the next level. As he explains, the choice was simple.

“Real estate and investing are two of my biggest passions so it goes without saying that I am thrilled to join such a reputable brokerage,” says Smadja. “Berkshire Hathaway HomeServices Québec is a leading real estate brokerage that puts its people first and is also linked to one of the most successful investors in the world, Warren Buffett. I could not be happier and confident with my decision.”

“Having Marc Smadja as one of our family members solidifies the fact that we only look to be associated with those brokers that are successful, ethical and respected”, says Sacha Brosseau, the company’s founder and CEO. “Not to mention, he came highly recommended by two of our existing family members, which again proves that good brokers want to work with and be associated to other good brokers. It is a key part of our culture, and one of the many things that makes Berkshire Hathaway HomeServices Québec such an amazing company to be a part of.”

The two other family members Brosseau is referring to are Candis Noble who was also previously with Engel and Völkers, and Zsolt Fischer who was previously with Re/Max Royal Jordan. When asked why the recommendation, both said “we believe in the family we are building at Berkshire Hathaway HomeServices Québec.”

As the company will soon celebrate its two year anniversary after launching in May 2020, it remains true to its vision of not having more than 100 core brokers within the province. Currently with a roster of 20 brokers servicing areas in and around the island Montreal, as well as the Laurentians and the Eastern Townships, Brosseau plans on growing his family selectively and through the recommendations of each of its members. “This is a people business, and I trust my people implicitly. More importantly, I appreciate and respect each and every one of them.”

For more information visit: http://www.bhhsquebec.ca

About Berkshire Hathaway HomeServices

Berkshire Hathaway HomeServices is one of the world’s fastest-growing residential real estate brokerage franchise networks, with more than 50,000 real estate professionals,

in 1,500 offices throughout the U.S., Europe, the Middle East and India, and more than $179 billion in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity.

Visit www.berkshirehathawayhs.com

Contacts

MEDIA CONTACT:
Chelsea Freeman

PR & Communications

+1 949 241 5239

chelseafreeman@hsfranchise.com

Combination of HBC’s existing and future SaksWorks locations with Convene creates the largest premium flex meeting, event and workplace business globally.

NEW YORK–(BUSINESS WIRE)–Convene, the leading hybrid meeting, event, and workspace provider, announced today that it has completed its recapitalization plan, led by HBC, a holding company at the intersection of real estate, technology and retail, and a fund managed by the Private Equity Group of Ares Management Corporation (“Ares”) (NYSE: ARES), a leading global alternative investment manager.

Convene will operate HBC’s existing portfolio of flexible work, event, restaurant and meeting spaces, which are expected to be rebranded as Convene and will remain branded as SaksWorks in the interim. HBC will be the majority owner of the combined entity, with 26 facilities under management and dozens more under development, which is expected to be the largest premium flex space operator across the US, Canada and Europe.

“We built Convene with a mission of elevating the workday experience. This strategic investment by HBC and Ares provides instant scale and growth opportunities for our business. We are excited to partner with HBC who is equally focused on delivering premium and flexible experiences to enable today’s distributed workforce,” said Ryan Simonetti, co-founder and CEO of Convene. “As organizations continue to embrace hybrid work and are demanding higher quality environments in which to gather, we are well-positioned to seize this moment.”

Convene combines design, technology, and hospitality to deliver elevated meeting and event spaces that enable business productivity and collaboration. Convene Studio, a proprietary virtual and hybrid events platform, can be added to any Convene or third-party location venue to enable seamless, secure, hybrid, and virtual meetings for up to 10,000 virtual attendees, including full production services.

Convene’s signature award-winning hospitality delivers a human touch in both the physical and virtual worlds. A team of dedicated on-site professionals welcome each guest and offer in-house assistance with everything from catering to IT/AV support, to ensure workday experiences are effortless and personalized. Alongside unlimited craft snacks, tea and barista coffee, Convene’s Head Chefs develop seasonal menus to replenish creative energy in every one of our locations.

With the investment from HBC and Ares, Convene’s future expansion will focus on locations in key urban and suburban markets. As businesses are reimagining their office footprint and hybrid workforce strategies, commercial real estate landlords are also re-thinking what is required to stay competitive in today’s dynamic marketplace. Sought-after amenities such as coworking options, on-site culinary offerings, premium and elevated meeting and event venues, and hybrid technology that were once thought of as “nice to have” are now a “must have”. Convene is well-poised to bring this fully operationalized solution to a wide variety of commercial real estate partners across the globe.

“Ryan and his management team have a 12-year track record of building world-class destinations for hosting events, meetings, and flexible workspace,” said Hamid Hashemi, COO, HBC Properties & Investments. “We are looking forward to implementing our shared vision across parts of HBC’s real estate portfolio, including the conversion of certain of its assets into Convene locations. With this transaction, Convene will expand its footprint into suburban markets, where people can work and meet closer to home.”

“We are proud to support Ryan and the Convene team in their continued growth as they further enable the future of work through innovative spaces and experiences,” said Craig Snyder, Partner and Co-Portfolio Manager of Special Opportunities in the Ares Private Equity Group. “We believe that this transaction will help accelerate Convene’s leadership position and we look forward to being a partner to them as they execute on future opportunities.”

About Convene

Convene is the leading provider of premium meeting and workday experiences with a global network of venues and flexible office locations. Combining design, technology, and hospitality to elevate today’s modern work experience, Convene creates the spaces and experiences that help teams succeed. With Studio, an all-in-one solution for digitally-enabled events, and 23 locations across the U.S. & London including meeting spaces and flexible workplaces, Convene creates your best day at work, wherever it happens. The company has been named one of America’s 100 Most Promising Companies by Forbes and a Best Workplace by both Inc. and Fortune Magazine.

About HBC

HBC is a holding company of investments and businesses at the intersection of technology, retail operations, and real estate.

It is the majority owner of iconic e-commerce companies: Saks, a leading online destination for luxury fashion; The Bay, a Canadian e-commerce marketplace; and Saks OFF 5TH, a premier luxury off-price e-commerce company offering top brands at the best prices. These businesses were established as separate operating companies in 2021. HBC also wholly owns Hudson’s Bay, the operating company for Hudson’s Bay’s brick-and-mortar stores, as well as SFA, the entity that operates Saks Fifth Avenue’s physical locations, and O5, the operating company for Saks OFF 5TH stores.

With assets spanning top markets and prime locations across North America, HBC owns or controls—either entirely or with joint venture partners—approximately 40 million square feet of gross leasable area. HBC Properties and Investments, the company’s real estate and investments portfolio business manages these assets along with additional real estate offerings, including Streetworks Development, its property development division.

Founded in 1670, HBC is North America’s longest continually operating company and is headquartered in New York and Toronto. For more information visit: www.hbc.com.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2021, Ares Management Corporation’s global platform had approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East and approximately $314 billion of assets under management, as adjusted for Ares Management’s acquisition of AMP Capital’s Infrastructure Debt platform which closed February 10, 2022. For more information, please visit www.aresmgmt.com.

Contacts

HBC

Trenesa Danuser

press@hbc.com

Convene

Anna Feiner

Convene@dkcnews.com

Ares Management Corporation

Brittany Cash

media@aresmgmt.com

WINNIPEG, Manitoba–(BUSINESS WIRE)–You’ve decided to take the plunge and streamline your operations with a CMMS – congratulations! Before you just install and instruct your team to start using it, now is the time to plan and plan diligently.

Implemented correctly, a CMMS can provide a single source of the asset management and health, reduce operational costs, increase customer satisfaction, meet regulations and become a center of the maintenance execution management.

Implemented poorly without proper buy-in and roll-out plans can turn your entire team off the idea of using software. Usage will be sporadic and complaints will be constant. Getting the team onboard again will most likely prove to be the biggest challenge and ultimate failure.

We’ve compiled the top steps to ensure your CMMS is implemented correctly with the highest chance of success.

1. Implementation Team
   When creating your implementation team be sure it is cross-functional, identify your champions and assign an owner.
2. Workflow and SOPs
   
   Document your existing workflows and be sure to question the whitespace in between the activities to determine if they are necessary. Once you know what you do and how you do it, then you can start adapting workflows to the CMMS.
3. Data Standardization
   This is the time to assess, validate and clean your data – before you upload it to your CMMS. Create a vocabulary, maintenance codes, job statuses and other standards you want to measure in the future.
4. Plan
   Have your team utilize your process documentation to start building the steps required.
5. System Configuration
   Now it’s time to configure the CMMS to receive data. That involves configuring forms, fields, dropdowns, refining flows and testing, testing, testing.
6. Training
   Adapt your training to the recipient so they can clearly see the value of making this change.
7. Launch
   Look at your stages of the project and launch it with the same approach.

These steps are a broad overview to success in your implementation. Follow them for each of your milestones, continue to assess and revise your processes and be open and receptive to feedback and suggestions from your team.

If you’re interested in a CMMS that’s designed to meet the maintenance demands of modern companies, start with Maxpanda. Let’s get some work done, together.

Contacts

Media:

Steve Kyriakidis

Email: steve@maxpanda.com
Phone: 1-424-272-6675

TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (TSX: INO.UN) (“Inovalis REIT”) today announced that it has entered the Spanish real estate market with the purchase of two connected office buildings in Alcobendas, north of Madrid. The high-quality, modern office buildings, with approximately 118,400 SF of leasable space, are fully let to two blue-chip tenants from the aeronautical sector.

The leases are in line with market standards, including an annual indexation of rents to cover inflation and the full recovery of operating expenses. Current rents are lower than market levels, however the Inovalis S.A., the manager of the REIT, expects to align the rents with other competing assets over time, by improving the certifications and the cosmetic aspects of the asset at minor cost, offering tenants more services and a better experience in the building.

The property is part of the Arroyo de la Vega market, an established office area strategically located a short distance from downtown Madrid and the Madrid Barajas International Airport. It is near the A-1 highway, a major roadway that connects many corporate headquarters with Madrid. The building includes 250 parking spaces, modern and flexible space with state-of-the art equipment and great synergy for both tenants. It was built in 2001 and was recently refurbished.

Inovalis S.A. has been actively pursuing assets in the Spanish market since 2017 and now manages 10 assets in 5 cities, totalling $205 million of assets under management.

“We are thrilled to have closed our first transaction in Spain and our second acquisition of the year,” said Khalil Hankach, Chief Investment Officer of Inovalis REIT. “It is a result of Inovalis S.A.’s deep understanding and proven track record in asset management in this important and competitive market, where we have successfully negotiated leases, managed projects and executed a range of value-enhancing measures. Our asset management team builds long-term trusting relationships with tenants with a focus on enhancing the quality of our buildings and optimising tenants’ office experience. The REIT will pursue its growth strategy in the Spanish real estate market and portfolio enhancement through our innovative and hands-on asset management.”

The Transaction

Inovalis acquired the property from MERLIN Properties. It led the acquisition and sourced the financing conducted by Targobank.

Inovalis S.A. is a French fund manager with 25 years’ experience with all asset classes and with expertise in all principal fields of real estate. Capitalizing on its experience, Inovalis S.A. has the ambition to continue its expansion in the main real estate markets of Spain and to continue to focus on improving its properties to meet international environmental standards and certifications and on the quality of its servicing to tenants.

Investing in Spain

Inovalis REIT’s decision to invest in Spain is driven by its confidence in the strengths of the market, with a balanced risk/reward ratio, a positive outlook and potential for growth. The country’s economy is based on solid fundamentals, being central to Europe and throughout the world (with strong cultural and economic ties to South America). Under the EU’s long-term budget, coupled with NextGenerationEU, Spain is expected to receive up to $192 billion to be invested until 2026.

The Spanish Real Estate Market

Spain’s real estate market is well-developed with significant depth: office stock of more than 140 million SF for Madrid and almost 75 million SF for Barcelona. International investors were involved in approximately 80% of all real estate transactions in the country in 2021, and the market is supported by national, European and international financial institutions. Market liquidity continues to grow as both Madrid and Barcelona are now in the top 10 of investment projections in Europe for 2022. Spain is also attracting more businesses to its cities: Madrid has the fifth highest start-up density across Europe and Barcelona is well-regarded for its digital and innovative talent.

The Spanish market offers relatively high yields, low capital values and rents compared to other markets in major European cities. It also offers attractive opportunities in established and mature locations difficult to source elsewhere in Europe when assessing comparable risk and yields. In Inovalis’ experience, short term value creation is also possible by converting properties into prime assets within their micro locations and with a minimal capital effort by improving the ESG compliance of the properties, their visibility and identity.

All currency amounts have been converted to Canadian dollars ($) using an exchange rate of $1.37 per Euro.

Forward-Looking Statements

Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, ”project”, “should”, “believe”, “confident”, “plan” and “intends” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information in this news release includes, but is not limited to, statements made in relation to: the acquisition of a new asset in Madrid and the REIT’s corporate objectives. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance, or achievements of the REIT to differ materially from those anticipated or implied by such forward-looking information. The REIT believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct. In particular there can be no assurance that: the REIT will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release are not guarantees of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting the REIT’s business and the businesses of its royalty partners can be found in the “Risk Factors” section of its Annual Information Form and in its most recent Management’s Discussion and Analysis, copies of each of which are available under the REIT’s profile on SEDAR at www.sedar.com. All of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the REIT. The forward-looking information included in this news release is presented as of the date of this news release and the REIT assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

About Inovalis REIT

Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange. It was founded in 2013 by Inovalis S.A. and invests in office properties in primary markets of France, Germany and Spain. It holds 14 assets representing $643 million of assets under management. Inovalis REIT acquires real estate properties indirectly via CanCorpEurope, an Alternative Investment Fund authorized by the CSSF in Luxemburg, and managed by INOVALIS S.A.

About Inovalis Group

Inovalis S.A. is a French Alternative Investment fund manager, authorized by the French Securities and Markets Authority (AMF) under AIFM laws. Inovalis S.A. and its subsidiaries (Advenis S.A., Advenis REIM) invest in and manage Real Estate Investment Trusts such as Inovalis REIT, open ended funds (SCPI) with stable real estate focus such as Eurovalys (for Germany) and Elialys (Southern Europe), Private Thematic Funds raised with Inovalis partners to invest in defined real estate strategies and direct Co-investments on specific assets.

Inovalis Group (www.inovalis.com), founded in 1998 by Inovalis SA, is an established pan European real estate investment player with $10 billion of assets under management and with offices in all the world’s major financial and economic centers in Paris, Luxembourg, Madrid, Frankfurt, Toronto and Dubai. The group is comprised of 300 professionals, providing Advisory, Fund, Asset and Property Management services in Real Estate as well as Wealth Management services.

Contacts

David Giraud, Chief Executive Officer
Inovalis Real Estate Investment Trust

+33 1 5643 3323

david.giraud@inovalis.com

Khalil Hankach, Chief Financial Officer
Inovalis Real Estate Investment Trust

+33 1 5643 3313

khalil.hankach@inovalis.com

IWBI joins forces with smart building market leaders to introduce new rating, which launches to strong demand and early commitments from Cyclone Energy Group, Delos, Edge Technologies, Environmental Charter School, Ernst & Young (EY), Ethos, GreenJump Sustainability, Honeywell, International Commerce Centre (ICC), Laguna, Nucleus Office Park, StrongLED Smart Lighting, View Inc. and WELL Living Lab China

SCOTTSDALE, Ariz. & NEW YORK–(BUSINESS WIRE)–The International WELL Building Institute (IWBI) today announced the launch of the WELL Performance Rating, a new rating that recognizes building owners and operators for achieving excellence in healthy building performance aimed to enhance the well-being and experience of the people inside. The announcement was made during the opening session of the WELL Summit, with IWBI leading partner organizations driving a movement for people-first places forward through application of WELL at scale.

Developed in collaboration with a host of industry leaders in smart building technologies and with input from IWBI Performance Advisory, WELL Performance Testing Organizations (PTOs) and WELL Enterprise Providers (EPs), the rating provides a roadmap for organizations to demonstrate excellence in occupant experience and building performance across key indoor environmental quality (IEQ) indicators related to air quality, water quality, thermal comfort, acoustics and lighting.

“The WELL Performance Rating puts us on an accelerated path to make buildings smarter for human health, unlocking the use of new technologies and more intelligent approaches to improve and enhance well-being and performance,” said Rachel Hodgdon, President and CEO, IWBI. “Thanks to the contributions of our collaborators from across the globe, the rating will connect building performance with the experience of the people inside, allowing organizations to make actionable what was once invisible through data and occupant insights.”

Through the achievement of the rating, organizations can garner intelligence to drive better business performance and strengthen organizational culture through the use of sensor networks, onsite tests and surveys that assess employee perceptions of their health, well-being and performance while in the building.

Recognizing the many world-class experts and leading companies involved, such as Carrier, Honeywell, Johnson Controls, Panasonic, Schneider Electric, SGS and Trane Technologies, Hodgdon added, “The creation of this rating has been a deeply collaborative effort. The top players in the industry united around a common set of performance thresholds for healthy buildings and best practices for continuous monitoring through the installation of sensor networks to advance human health and experience.”

Leaders from Cyclone Energy Group, Delos, EY, Honeywell, StrongLED Smart Lighting, View and WELL Living Lab China joined Hodgdon on stage at the WELL Summit to celebrate the launch and to signal their commitments to be among the first to pursue the WELL Performance Rating. “I am excited to stand with organizations on the leading edge of this work, who see the importance of creating people-first places for everyone, everywhere,” Hodgdon said.

Demonstrating a commitment to optimizing the health of the people inside the buildings, the following organizations have enrolled in the WELL Performance Rating:

• Cyclone Energy Group
• Delos
• Environmental Charter School (ECS)
• Edge Technologies
• Ernst & Young (EY)
• Ethos Engineering
• GreenJump Sustainability
• Honeywell
• International Commerce Centre (ICC)
• Laguna
• Nucleus Office Park
• StrongLED Smart Lighting
• View Inc.
• WELL Living Lab Beijing

Organizations currently enrolled in the WELL Performance Rating span all industries and building types, signaling the rating’s substantial impact across sectors. Here’s what they’re saying:

“Building performance extends beyond material resources, energy, and water efficiency. People’s health and well-being are core to our mission and was the driver behind achieving the WELL Health Safety Rating for Cyclone Energy Group’s Chicago Office in September 2021. The newly released WELL Performance Rating aligns with Cyclone’s airPLAN service which enables our team and occupants to continuously monitor key metrics of indoor air quality,” said Sumayyah Theron, Director of Sustainability, Cyclone Energy Group. “Cyclone leverages the real-time data to help manage the balance between energy efficiency and a comfortable and healthy space. We’re glad to be on the leading edge with IWBI in pioneering places that leverage technology for people, extending this to our clients for greater benefits all around.”

“Edge knows it’s possible to activate people-centricity on a holistic and a personal level. The WELL Performance Rating enables us to leverage technology to gather insights on the built environment in order to make adjustments that unleash human potential,” said Thomas Ummels, Chief Development Officer, Edge Technologies. “We are proud to continue our WELL journey with IWBI in enrolling for the WELL Performance Rating, making buildings better for people.”

“As an industry leader in mechanical and electrical consultancy in Ireland and across Europe EMEA, Ethos Engineering is dedicated to advancing our knowledge of the effect of the built environment and its impact on human health and well-being,” said Greg Hayden, CEO, Ethos Engineering. “That’s why we are delighted to be an early participant in the new WELL Performance Rating process, adopting it for our Head Office in Dublin, which is on track to become one of the first in Europe to achieve this standard of building performance and analysis.”

“Environmental Charter School (ECS) began as a group of inspired parents and community leaders and bloomed into a system of learning,” said Jon McCann, Chief Executive Officer, Environmental Charter School. “As we support young learners and future leaders, we understand how the environment where they learn impacts their well-being. With the WELL Performance Rating, ECS can help our students by using information about where they’re learning, to help impact how they live.”

“At EY, we thrive in helping our clients create optimized experiences. With the roadmap the WELL Performance Rating provides, there is enhanced building intelligence through actionable visibility of the levers that adjust our environments,” said Jade Dauser, Corporate Real Estate and Technology Services Leader, EY. “This can improve the well-being of visitors and tenants alike. With IWBI’s WELL Performance Rating, EY can use real-time data to make impactful changes.”

“GreenJump Sustainability is committed to creating healthy, sustainable living environments and lifestyles, enhancing employee well-being through the WELL Performance Rating with smart building features and objectivity,” said Tzung-Han Ho, CEO, GreenJump Sustainability. “We are proud to join IWBI in using this rating to better inform our actions.”

“Based on research we’ve conducted, people want viable evidence that the buildings they use every day for work, school or care are healthier and use technology that helps to foster their well-being,” said Manish Sharma, vice president and general manager of sustainable buildings, Honeywell Building Technologies. “We look forward to implementing the WELL Performance Rating at our new corporate headquarters in Charlotte, N.C., where our priority is to deliver an unmatched occupant experience to support the well-being of our employees and guests while also being conscious of our environmental impact.”

“Sun Hung Kai Properties is fully committed to providing its customers and tenants with the best services. Health and well-being have become even more important nowadays. The WELL Performance Rating will help us improve our building performance and maintain the International Commerce Centre (ICC) as one of the best business locations in the world for our tenants,” said Lo King-Wai, General Manager, Sun Hung Kai Real Estate Agency, ICC.

“Measured performance is what attracted Laguna to WELL in the first place. Not just the promise of better, healthier buildings, but the ability to track various settings and understand the impact that different strategies have on people’s lives,” said André Marin, Director of Incorporation, Laguna. “That’s very important to us, and it’s the reason we are excited about prototyping the WELL Performance Rating at Galeria Laguna, our new experiential design space and showroom.”

“Health and well-being are prime considerations for Nucleus Office Parks. Nucleus Office Parks is committed to implementing meaningful and measurable building performance and tangible strategies across our portfolio to enhance the quality of life of our customers, partners and employees,” said Quaiser Parvez, CEO Nucleus Office Parks. “The newly launched WELL Performance Rating from IWBI is a gold standard and will help us continuously monitor and improve the ongoing performance of our buildings. We at Nucleus Office Parks are excited to partner with IWBI at the launch of the WELL Performance Rating and create new benchmarks in health and wellness in the built out and operating environment in India.”

“StrongLED Smart Lighting is committed to developing the most technologically advanced lighting products, including intelligent sensors and control systems, through scientific research. Leveraging the WELL Performance Rating is our response to WELL’s human-centered, healthy building concept, and we pledge to provide the highest quality indoor lighting environment,” said Lawrence Lin, CEO, StrongLED Smart Lighting (Cayman) Co., Ltd. “Putting people’s well-being and experience first is our commitment to IWBI, and our unremitting goal to achieve.”

“Our mission at View is to create delightful human environments by transforming buildings to improve human health,” Chief Business Officer of View, Rahul Bammi. “We are excited to use our own smart building technology to achieve the WELL Performance Rating at our headquarters and promote the health and well-being of our employees.”

The WELL Performance Rating consists of features drawn from the WELL Building Standard (WELL) along with new strategies and features that call for specific leadership thresholds, and can be earned as a standalone designation or a milestone toward a single-building certification or enterprise commitment. IWBI first announced plans for developing the new rating system in July 2021, tapping the expertise of a global network of advisors as well as a diverse group of organizational and industry leaders, including Aircuity, BSI, Carrier, CETEC, Cognian Technologies, Honeywell, Johnson Controls, Kaiterra, LeGrand, Lennox International, Panasonic, Schneider Electric, SGS, Thornton Tomasetti, Trane Technologies and WSP.

Since 2021, IWBI has engaged stakeholders in a series of sessions to further the integrity and use of the rating, including educating individuals on how the rating works and what to prepare for. In March, IWBI’s Governance Council, the leadership body tasked with upholding the integrity of WELL through rigorous standard development criteria, ratified the rating in a unanimous vote. The Governance Council includes public health icons such as Dr. Risa Lavizzo-Mourey of the University of Pennsylvania and former President and CEO of the Robert Wood Johnson Foundation; the 17th U.S. Surgeon General, Dr. Richard Carmona; and Nancy Roman, President and CEO of Partnership for a Healthier America.

About the International WELL Building Institute

The International WELL Building Institute (IWBI) is a public benefit corporation and the world’s leading organization focused on deploying people-first places to advance a global culture of health. IWBI mobilizes its community through the administration of the WELL Building Standard (WELL) and the WELL Health-Safety Rating, management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and well-being everywhere. More information on WELL can be found here.

International WELL Building Institute pbc is a wholly owned subsidiary of Delos Living LLC. International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL Portfolio, WELL Portfolio Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rating, WELL Health-Safety Rated, WELL Health-Equity, WELL Performance Rated, WELL Performance Rating, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries.

Contacts

Media:

Yan Tai
media@wellcertified.com

Global Brokerage Gives People a Chance to Win a Custom Pet-Sized Version of Their Home

IRVINE, Calif.–(BUSINESS WIRE)–Berkshire Hathaway HomeServices, a global residential real estate brokerage franchise network, has announced the launch of the Berkshire Hathaway HomeServices Pawfect Home Sweepstakes, where individuals can enter for a chance to win a custom-built, pint-sized replica of their own home for their loyal companion.

“Pets are what make a house a home and we all know when considering a property there’s no denying pets call the shots much more than we give them credit for,” said Christy Budnick, CEO of Berkshire Hathaway HomeServices. “We are excited to provide an opportunity to give pets something that’s better than treats or toys: a custom-built, pet-sized pet house.”

To enter the sweepstakes, consumers can visit www.BHHSpawfecthome.com between April 11, 2022, at 12:00 p.m. Eastern Time (“ET”) U.S. and June 6, 2022, at 11:59 p.m. ET U.S. Limit 1 base entry per person per day. See Official Rules eligibility requirements, prize description and limitations.

Five Grand Prize winners will receive a custom-made pet home. The sweepstakes is available in the United States, Canada and Mexico on April 11 followed by the United Kingdom, Portugal, Greece and Spain which launches on April 25. The Berkshire Hathaway HomeServices Pawfect Home Sweepstakes is a Pawfect opportunity for all four-legged friends (or if your pet’s a snake, no-legged friend) to have a home that’s Pawfect.

Real Estate Forever Agents care about their clients and their pets. Pets are part of the family. From first time homebuyers to high-end residential markets to middle-market communities, our pets are there for us through it all.

For more information or to enter the sweepstakes visit: www.BHHSpawfecthome.com

About Berkshire Hathaway HomeServices

Berkshire Hathaway HomeServices is a global residential real estate brokerage franchise network with more than 50,000 real estate professionals and nearly 1,500 offices across 12 countries including, the U.S., Canada, Mexico, Europe, the Middle East, The Bahamas, and India. In 2021, the Berkshire Hathaway HomeServices global network represented more than $179.9 billion (USD) in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability, and longevity.

Contacts

Chelsea Freeman

PR & Communications

+1 949 241 5239

chelseafreeman@hsfranchise.com

TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (TSX: INO.UN) (“Inovalis REIT”) today announced it has completed the purchase of the “Gaïa” office property in Nanterre, a suburb of Paris which is in the immediate vicinity of the La Défense district. The ninth property in the REIT’s Paris portfolio, the Gaïa is a 5-floor, 118,400 SF building built in 2014, and was acquired from GA Smart Building and Paref, who co-developed the property.

“This acquisition is in keeping with our strategy of investing in core European markets where we have considerable experience and knowledge,” said Khalil Hankach, Managing Director of Inovalis S.A. and Chief Investment Officer of Inovalis REIT. “We were delighted to source this high-quality, accretive and creditworthy asset, which has a good mix of tenants in a strategic office area close to one of Europe’s leading business districts. It is in keeping with our core+ strategy, which will see us continue to invest in mature and consolidated markets, and in assets that generate a predictable cash flow.”

The Gaïa has many compelling features, including a spacious and modern lobby, bright office spaces and elevated private terraces offering unique views of the Mont Valérien. The property also offers several quality services, such as a restaurant with an outdoor terrace, meeting rooms, a common lounge area, and co-working spaces. The Gaïa has received dual High Environmental Quality (HQE) and BBC Effinergie (Low-energy Building) certifications and is equipped with an Active Computer Performance Management system, which support high-performance energy efficiency levels (2.32 kwh/SF/year).

The Gaïa Tenants benefit from Gross Rent levels which are highly competitive, due to low and controlled operating costs, allowing the Landlord to maximize net rents, while neighboring assets seeking higher or similar Gross Rent levels fail to offer most of the services that the Gaïa provides. Tenant leases include annual increases indexed to inflation, with no caps, and the full recovery of operating expenses.

Adjacent to the new Eco-quartier des bergères to be completed in 2025, the Gaïa benefits from a qualitative and dynamic environment that will be further enhanced by the completion of the large-scale renovation programme for the Parc Sud, supported by the city and the region.

Reinstatement of Dividend Reinvestment Plan

Inovalis REIT also announced that the Board of Trustees of the REIT approved the reinstatement of the Dividend Reinvestment Plan (“DRIP”), commencing effective with the April distribution for Unitholders of record on April 29, 2022 Unitholders that were enrolled in the DRIP at the time of its suspension and have not subsequently withdrawn will automatically resume participation in the DRIP.

The DRIP allows eligible holders of units to reinvest their cash dividends paid in respect of their units in additional units, which, at the REIT’s election, will be issued from treasury or purchased on the open market. If the REIT elects to issue units from treasury, such units will be purchased under the DRIP at a 3% discount to the volume weighted average of the closing price for the units on the TSX for the five trading days immediately preceding the relevant dividend payment date. The REIT may, from time to time, in its sole discretion, change or eliminate the discount applicable to units issued from treasury.

To be eligible to participate in the DRIP, holders of units must be resident in Canada. Participation in the DRIP does not relieve unitholders of any liability for taxes that may be payable in respect of dividends that are reinvested in new units under the DRIP. Unitholders should consult their tax advisors concerning the tax implications of their participation in the DRIP having regard to their particular circumstances.

The full text of the DRIP is available under the “Investor Relations” section of the REIT’s website located at https://www.inovalisreit.com. Eligible beneficial unitholders who wish to participate in the DRIP should contact their investment advisor, bank or brokerage firm to enroll in the DRIP.

Unitholders should carefully read the complete text of the DRIP before making any decisions regarding participation in the DRIP.

Forward Looking Statements

Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, ”project”, “should”, “believe”, “confident”, “plan” and “intends” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information in this news release includes, but is not limited to, statements made in relation to: the acquisition of a new asset in Paris, the reinstatement of the DRIP and the terms of the DRIP and the REIT’s corporate objectives. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events, performance, or achievements of the REIT to differ materially from those anticipated or implied by such forward-looking information. The REIT believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct. In particular there can be no assurance that: the REIT will keep the DRIP in place or the REIT will achieve any of its corporate objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release are not guarantees of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting the REIT’s business and the businesses of its royalty partners can be found in the “Risk Factors” section of its Annual Information Form and in its most recent Management’s Discussion and Analysis, copies of each of which are available under the REIT’s profile on SEDAR at www.sedar.com. All of the forward-looking statements made in this news release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the REIT. The forward-looking information included in this news release is presented as of the date of this news release and the REIT assumes no obligation to publicly update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

Contacts

David Giraud, Chief Executive Officer Khalil Hankach, Chief Financial Officer
Inovalis Real Estate Investment Trust Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3323 Tel:+33 1 5643 3313

david.giraud@inovalis.com khalil.hankach@inovalis.com

CARPINTERIA, Calif.–(BUSINESS WIRE)–Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced a new integration with Building Transparency, a nonprofit organization with the mission to enable broad and swift action to address the construction industry’s role in climate change. The integration enables Procore users to leverage the Embodied Carbon in Construction Calculator (EC3) in an effort to drive sustainability across the global construction industry.

Between 2015 and 2050 worldwide, two trillion square feet of buildings are expected to be built or renovated, and the World Green Building Council estimates that construction materials account for approximately 11 percent of global carbon emissions. In order to address Environmental, Social and Governance (ESG) and sustainable building practices, the EC3 tool is a free database that calculates the embodied carbon emissions associated with design and material procurement, ultimately helping specialty contractors, general contractors and owners reduce embodied carbon emissions in construction. The EC3 calculator was co-conceived and developed by Skanska and C Change Labs; it was jointly seed-funded by Skanska and Microsoft.

The EC3 integration provides Procore users the opportunity to reduce construction waste and rework, accounting for nearly $500 billion annually across the globe according to the 2018 FMI Report. By giving construction professionals the tools to benchmark and assess their carbon footprint, the tool actively helps companies realize their sustainability targets and reduce carbon emissions.

“We are thrilled to provide our customers around the globe access to the Embodied Carbon in Construction (EC3) tool,” said Tooey Courtemanche, Procore founder and CEO. “As a dedicated partner to the construction industry, it is our responsibility to support the growing need for sustainable building. Our partnership with Building Transparency and the new EC3 integration reinforces our vision of improving the lives of everyone in construction and the communities we serve.”

“Our partnership with Procore is a great step forward in educating our industry on the importance of reducing embodied carbon emissions and the tools already available to do so,” said Stacy Smedley, Executive Director of Building Transparency. “EC3 enables the industry to measure and understand the carbon footprint of their projects and set reduction targets to begin to address our collective impact on climate change.”

To learn more about how Procore is partnering with Building Transparency to support greener construction practices, register for Procore’s global Innovation Summit taking place April 19.

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 around the globe. Learn more at Procore.com.

PROCORE-IR

Contacts

Media Contact
Elizabeth Locke

press@procore.com

Investor Contact
Matthew Puljiz

ir@procore.com