TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or “the Trust”) (TSX: PMZ.UN) announced today financial results for its inaugural year end.

Business Update Highlights

• Formed an experienced executive management team to execute the Trust’s strategy, and a diverse Board of independent Trustees to provide oversight and guidance;
• Began trading on the TSX January 5, 2022;
• Added to the S&P/TSX Capped REIT Index and S&P/TSX Composite Index; and
• Received TSX approval for normal course issuer bid.

Financial and Operating Results Highlights

• 10.2% Net Operating Income** growth for the Primaris Properties for the year ended 2021;
• 86% In-place occupancy (including HOOPP Properties), representing an opportunity for future organic growth;
• 8 properties (HOOPP Properties) acquired and integrated, enhancing geographical diversification, tenant mix and scale;
• $700 million unsecured credit facility established;
• 28.4% Debt to Total Assets;
• $1.88 billion in unencumbered assets (including HOOPP Properties);
• 27 brands under contract on Primarché platform; and
• $22.07 Net Asset Value** per Unit.

“We are in the unique position of introducing the public markets to a “new REIT” with a 20-year track record of strong operating performance at an important point of inflection in the industry,” said Alex Avery, Chief Executive Officer. “Primaris REIT is exceptionally well positioned to participate in the recovery of the Canadian enclosed shopping centre industry, with a differentiated financial model, gold-standard governance, a fully-internal, specialized management platform and a portfolio of well-maintained, well-located shopping centres across Canada with significant occupancy improvement potential. We believe there is a great opportunity to deliver compelling investment returns to investors, and look forward to delivering on that potential.”

Important Note to Financial Statement Users

On December 31, 2021, Primaris became a stand-alone entity following the completion of a tax-free spin-off (the “Spin-Off Transaction”) of 27 investment properties to Primaris from H&R Real Estate Investment Trust (“Former Parent”). The results include the continuing operations of those 27 properties (“Primaris Properties”) and, unless otherwise indicated, the 8 additional investment properties (“HOOPP Properties”) which were acquired on December 31, 2021, immediately following the Spin-Off Transaction. The results have been prepared on a continuity-of-interests basis.

As a result:

• The December 31, 2021 financial statements reflect the operating results of approximately 74% of the REIT’s assets by IFRS Fair Value for the 3 months and 12 months ended December 31, 2021 and 2020.
• The December 31, 2021 balance sheet reflects ownership of 100% of the REIT’s assets, including the HOOPP Properties acquired December 31, 2021.
• Operating results during 2020 and 2021 were impacted by a number of unusual items, including pandemic related costs, bad debt expenses, temporary and permanent lease amendments, and transaction related expenses, including costs reflected in the 3 months ended December 31, 2021 that related to prior periods, as discussed in Management’s Discussion and Analysis.
• A financial forecast for the 12 months ended December 31, 2022 is included in section 16 of Management’s Discussion and Analysis.

Select Financial and Operational Metrics
As at or for the year ended December 31, (in thousands of Canadian dollars unless otherwise indicated) (unaudited)								2021								2020								2019
Number of investment properties								35								27								27
Gross leasable area (in millions of square feet)								11.5								7.6								7.7
In-place Occupancy								86.0%								88.2%								87.5%
Total assets				$				3,247,842				$				2,134,955				$				2,732,713
Total liabilities				$				1,056,516				$				1,133,255				$				1,156,810
Primaris Properties only:
Total revenue				$				253,979				$				270,230				$				273,666
Net Operating Income**				$				141,594				$				128,474				$				159,329
Net income (loss)1				$				340,989				$				(574,478)				$				(44,450)
** Net operating income is a non-GAAP financial measure. See Section 3, “Non-GAAP Financial Measures”.
1. As net income (loss) was calculated on the continuity-of-interests basis and does not reflect the capital structure of the newly created Trust, net income (loss) on a per unit basis would not be a relevant calculation.

Operating Results

For the year ended December 31, 2021, NOI** was $13.1 million, or 10.2%, higher than the same period in 2020. The increase was primarily due to a decrease in bad debt expense of $35.1 million, and a $2.3 million increase in lease surrender fees. These changes were partially offset by a decrease in base rent of $8.4 million, a decrease in net recovery revenue of $11.0 million and an increase in other non-recoverable expenses of $4.4 million. Base rent and recovery revenue were impacted by temporary rent adjustments provided to support tenants and maintain occupancy.

In return for this support, Primaris received relief from certain restrictive lease clauses and extended lease term from major tenants that should benefit Primaris in the future. Primaris chose to partner with tenants on affordable lease deals to maintain occupancy levels, avoid bad debt expenses, and build lasting tenant relationships. Management believes such deals provide attractive opportunities for rent growth in the future.

For the three months ended December 31, 2021, NOI** was $3.6 million, or 8.9%, lower than the same period in 2020. The decrease was primarily due to a decline in net recovery revenue due to temporary rent adjustments provided to support tenants and a $1.2 million impact from straight-line rent and lease surrender fees.

Occupancy & Leasing Results

As at December 31, 2021, the Primaris Properties, had an in-place occupancy rate of 87.5% and a committed occupancy rate of 89.4%. The in-place occupancy rate of the Primaris Properties remained relatively stable during the pandemic. The in-place occupancy rate of the HOOPP Properties, was 83.2% and represents an opportunity for future organic growth.

With respect to the Primaris Properties, Primaris completed a total of 1.4 million square feet of new and renewal leasing under 352 leasing deals for the year ended December 31, 2021, and 0.3 million square feet under 108 leasing deals for the three months ended December 31, 2021.

As at December 31, 2021, for the Primaris Properties, the weighted average net rent was $24.12 (2020 – $24.66). The average net rent for the HOOPP Properties was $22.21, for a combined average net rent of $23.53 as at December 31, 2021 for all of the Trust’s investment properties.

Acquisitions

Immediately following the Spin-Off Transaction, Primaris completed the acquisition of 8 investment properties from Healthcare of Ontario Pension Plan (“HOOPP”) for $800 million. The acquisition provided Primaris with added economies of scale, and geographic and tenant diversification.

Development

During 2021, Primaris obtained approval from the City of Toronto, subject to certain procedural matters being completed by June 30, 2022, to develop 4 acres at Dufferin Mall to include 1,200 residential units and 120,000 square feet of commercial space. Subsequent to obtaining conditional approval, the valuation for Dufferin Mall was increased in accordance with a third-party appraisal of the property which included the additional density. Management is considering plans to develop or monetize this land.

Robust Liquidity and Differentiated Balance Sheet

On January 4, 2022, Primaris entered into $700 million credit facility with a syndicate of Canadian banks. The availability on the credit facility will reduce from $700 million to $400 million on June 30, 2023. The credit facility has a maturity date of December 31, 2024. Primaris has $1.88 billion of unencumbered assets and a calculated net asset value** per unit of $22.07.

Year ended December 31,   ($ thousands unless otherwise indicated)		2021
Investment Properties	$	3,204,188
Other Assets		43, 654
Total Assets		3,247,842
Mortgages Payable		(580,000)
Credit Facilities		(143,000)
Note Payable		(200,210)
Total Debt		(923,210)
Other Liabilities		(78,328)
Net Assets	$	2,246,304
Units outstanding December 31, 2021 – diluted (in thousands)		101,784
Debt to Total Assets1		28.4%
Net Asset Value** per unit1	$	22.07
** Net asset value is a non-GAAP financial measure. See Section 3, “Non-GAAP Financial Measures”.
1 No meaningful comparative values exist for the combined carve-out results of the year ended December 31, 2020.

Subsequent Events

In January 2022, the Former Parent exchanged all of the exchangeable units of the Primaris subsidiary limited partnership, that they subscribed for under the Arrangement, for Trust Units.

On January 4, 2022, Primaris entered into a $700.0 million unsecured syndicated revolving term facility, maturing on January 4, 2025, greatly expanding its liquidity.

In connection with the acquisition of the HOOPP Properties, Primaris assumed a $200.2 million non-interest-bearing note payable to HOOPP. The note was subsequently repaid on January 5, 2022 utilizing a draw on Primaris’ unsecured syndicated credit facility.

Primaris declared and paid its first distributions subsequent to December 31, 2021. On February 15, 2022, Primaris paid a distribution of $0.0667 per unit for unitholders of record January 31, 2022, and on February 10, 2022, Primaris declared a distribution of $0.0667 per unit, for unitholders of record February 28, 2022, payable on March 15, 2022. The monthly distributions, to date, reflect an annualized distribution of $0.80 per unit.

In January 2022, Primaris sold 2 acres of land to a residential developer for $5.8 million.

On February 28, 2022, Primaris received approval from the TSX for a normal course issuer bid (“NCIB”) which will enable the Trust to purchase for cancellation up to a maximum of 7,498,679 of its Units on the open market. The NCIB will commence on March 9, 2022 and remain in effect until the earlier of March 8, 2023 and the date Primaris has purchased the maximum number of Units permitted.

Conference Call and Webcast

Webcast details:

Date: Monday, March 7th, 2022, at 10:00 a.m. (ET)

Link: Please go to the Investor Relations section on Primaris’ website or click here.

Conference call details:

Dial: For Canada please dial: 1-833-950-0062

For International please dial: 1-929-526-1599

Passcode: 439910

The call will be accessible for replay until March 21, 2022, by dialing 226-828-7578 with access code 646604, or on the Investor Relations section of the website.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in dominant enclosed shopping centres in growing markets. The portfolio totals 11.5 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.

Non-GAAP Measures

Information in this press release is a select summary of results. This press release should be read in conjunction with the Trust’s Management Discussion and Analysis and the consolidated statement of financial position and combined carve-out financial statements and the accompanying notes for the years ended December 31, 2021 and 2020 (together the “Financial Statements”).

Primaris’ Financial Statements are prepared in accordance with International Financial Reporting Standards (“IFRS”). However, Primaris also uses a number of measures which do not have a standardized meaning prescribed under generally accepted accounting principles (“GAAP”) in accordance with IFRS. These non-GAAP measures, which are denoted in this press release by the suffix “**” may include non-GAAP financial measures and/or non-GAAP ratios, each as defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. None of these non-GAAP measures should be construed as an alternative to financial measures calculated in accordance with GAAP. Furthermore, these non-GAAP measures may not be comparable to similar measures presented by other real estate entities and should not be construed as an alternative to financial measures determined in accordance with IFRS.

Net Operating Income** is calculated as the rental revenue as calculated in accordance with IFRS less property operating costs as calculated in accordance with IFRS. Management calculates and analyzes NOI** to monitor the performance of its income producing investment properties; in particular, the period over period NOI** results for properties continuously in operation for the duration of the measurement period.

Net Asset Value** is calculated as the net of the assets and liabilities from the statement of financial conditions calculated in accordance with IFRS, excluding exchangeable units. Management believes that net asset value is a useful measure of the intrinsic value of the Trust.

Below is a reconciliation of NOI** to IFRS measures:
For the periods ended December 31, ($ thousands) (unaudited)			Three months										Year
			2021				2020						2021				2020
Rental Revenue			$		67,243		$		70,023				$		253,979		$		270,230
Property operating costs					(30,664)				(29,886)						(112,385)				(141,756)
Net Operating Income**					36,579				40,137						141,594				128,474
Exclude variances from:
Straight-line rent					(869)				(2,108)						(3,133)				(3,637)
Lease surrender fees					(73)				(334)						(3,348)				(1,088)
Adjusted NOI**			$		35,637		$		37,695				$		135,113		$		123,749

Forward-Looking Statements Disclaimer

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

Contacts

For more information:

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

TSX: PMZ.UN

www.primarisreit.com www.sedar.com

TORONTO–(BUSINESS WIRE)–Tricon Residential Inc. (“Tricon” or the “Company”) (NYSE: TCN; TSX: TCN), an owner and operator of single-family rental homes and multi-family rental apartments in the United States and Canada, announced today that Gary Berman, President & CEO will participate in a roundtable discussion at the 2022 Citi Global Property CEO Conference on Monday, March 7, 2022, at 3:30pm Eastern Time. A live audio webcast of the presentation will be available on the Investor Relations section of the Company’s website at https://triconresidential.com under “News and Events”. A replay of the webcast will be available through April 7, 2022.

About Tricon Residential Inc.

Tricon Residential is an owner and operator of a growing portfolio of approximately 37,000 single-family rental homes and multi-family rental apartments in the United States and Canada with a primary focus on the U.S. Sun Belt. Our commitment to enriching the lives of our residents and local communities underpins Tricon’s culture and business philosophy. We strive to continuously improve the resident experience through our technology-enabled operating platform and innovative approach to rental housing. At Tricon Residential, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.

Contacts

Investors
Wissam Francis

EVP & Chief Financial Officer

Tel: 416-323-2484

Email: wfrancis@triconresidential.com

Wojtek Nowak

Managing Director, Capital Markets

Tel: 416-925-2409

Email: wnowak@triconresidential.com

Media
Tara Tucker

Vice President, Communications

Tel: 416-925-4041

Email: ttuccker@triconresidential.com

DUBLIN–(BUSINESS WIRE)–The “Fire Stopping Materials Market: Opportunity Analysis and Industry Forecast” report has been added to ResearchAndMarkets.com’s offering.

The global fire stopping material market size was valued at $1,352.8 million in 2020, and is projected to reach $2,002.4 million by 2030, registering a CAGR of 4.1% from 2021 to 2030.

Fire stopping materials are used to protect people in a building or establishment from fire hazards by controlling, detecting, and controlling the spread of fire. These materials assist in the extinguishment of smoke or fire and the alerting of building inhabitants, reducing property and life damage. Materials such as sealants, mortar and putty and putty pads prevent spread of fire and smoke and buy time for safe evacuation and reduce property damage. These fire stopping materials are widely used in commercial, residential and industrial sectors.

The rise in construction sector such as residential and commercial and also increase in industrial sector such as oil and gas, petrochemicals and food industry act as a major driver for fire stopping materials. Construction of new residential and commercials are expected to provide new prospects for fire safety materials. For employee safety, fire protection systems are commonly used in commercial and industrial areas. Furthermore, the market is driven by an increase in the number of property losses as a result of fires. Hence, many organizations and residential projects have been forced to utilize fire stopping materials to reduce fire hazards and property losses as a result of the rising norm. Such factors will support market growth during the forecast period.

Government investments in construction sectors will fuel the fire stopping materials market growth. For instance, in July 2021, Canada’s federal government and the Canada Housing & Mortgage Corporation have committed $35 million to the development of over 100 new residential units in Toronto. The project will be part of a 15-storey apartment at 2346 Weston Road, North York district. Such investments will create growth opportunity for fire stopping materials during the forecast period.

Various key players are launching fire stopping materials such as sealants and boards to prevent spreading of fire and reduce fire hazards. For instance, in November 2021, Rectorseal has launched Orange Draft Block sealant for North America costumers. This fire stopping sealant has ability to expand up to three times to fill openings and insulate pipe and cables. Such factors are expected to provide lucrative growth in the market during the forecast period.

The global fire stopping materials market is segmented on the basis of type, application, end-user, and region. On the basis of types, the market is segmented into sealants, mortar, boards, and others. Application segmentation includes electrical, mechanical, and plumbing. By end-user, the market is segmented into residential, commercial, and industrial. Region wise, the fire stopping materials market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Benefits

• The report provides an extensive analysis of the current and emerging fire stopping materials market trends and dynamics.
• In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2030.
• Extensive analysis of the fire stopping materials market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
• The global fire stopping materials market forecast analysis from 2020 to 2030 is included in the report.
• The key market players within fire stopping materials market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the fire stopping materials industry.

Market Dynamics

Drivers

• Increase in demand for passive fire protection systems
• Increased emphasis on fire safety codes and regulations
• Rise in residential and commercial sectors

Restraint

• Fluctuation in raw material prices

Opportunity

• Advancement in fire stopping materials

Market Segmentation

By Type

• Sealants
• Mortar
• Boards
• Others

By Application

• Electrical
• Mechanical
• Plumbing

By End-user

• Residential
• Commercial
• Industrial

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• UK
• Italy
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Players

• 3M Company
• BASF SE
• Etex Group
• Hilti Group
• Knauf Insulation
• Morgan Advanced Materials
• RectorSeal Corporation
• RPM International, Inc.
• Sika AG
• Specified Technologies, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/k0qto3

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

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

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

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

NEW YORK–(BUSINESS WIRE)–CIBC Innovation Banking is pleased to announce the lead arrangement of a $150 million syndicated debt financing for New York-based VTS, a leading provider of commercial real estate software. VTS will use the capital to accelerate investments in its strategic product road map, M&A, and global market expansion.

VTS’s leasing and asset management software offers landlords and brokers one place to track all of their leases, assets, and tenants through an easy-to-use, intuitive platform that empowers commercial real estate professionals to work smarter, not harder.

“VTS’s platform brings innovation to the commercial real estate sector by unlocking critical insights and reporting capabilities,” said Caroline Tkatschow, Director in CIBC Innovation Banking’s New York office. “We are excited to be working with VTS’s management team and support their company’s continued domestic and global growth.”

VTS was founded by real estate professionals who have experienced the challenges facing today’s landlords and brokers first-hand. The platform is trusted by over 45,000 brokers and asset managers around the globe to manage over 12 billion square feet of commercial property.

“The CIBC Innovation Banking team has provided incredible support to our team at VTS as we continue to expand our business,” said Bob Bies, Chief Financial Officer of VTS. “We’re grateful for their assistance which will enable our immediate market growth plans and accelerate our product initiatives.”

VTS is also backed by Insight Partners, OpenView, Trinity and Bessemer Venture Partners, among others.

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, London, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S., Canada, the UK, and select European markets.

About VTS

VTS is commercial real estate’s leading leasing, marketing, asset management, and tenant experience platform where the industry comes to make deals happen and real-time data comes to life. The VTS Platform captures the largest first-party data source in the industry, which delivers real-time insights that fuel faster, more informed decision making and connections throughout the deal and asset lifecycle. VTS Data, the industry’s only forward-looking market dataset, and VTS Market and Marketplace, the industry’s first integrated online marketing solution, give landlords, brokers, and tenants unparalleled visibility into real-time market information and the direct connectivity to execute deals with greater speed and intelligence at every point in the planning, marketing, leasing, and asset management cycle. VTS Rise is the industry’s most comprehensive tenant experience solution, offering occupiers, building operators, and visitors an immersive, tech-enabled experience. More than 60 percent of Class A office space in the US and 12 billion square feet of office, retail, and industrial real estate globally is managed on the VTS platform. VTS’ user base includes over 45,000 CRE professionals including respected industry leaders like Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL, and CBRE. To learn more about VTS, and to see our open roles, visit www.vts.com.

Contacts

Josh Burleton, josh.burleton@cibc.com, 416-304-2712

This innovative program is designed to generate significant sales and revenue for SNAP Home Finance Dealers while changing the competitive landscape of the home renovation financing industry.

TORONTO–(BUSINESS WIRE)–SNAP Home Finance officially launches the SNAP All-Star Alliance – a proprietary program designed to generate significantly more leads, sales, and revenue for SNAP Home Finance dealers across various industry verticals. The SNAP All-Star Alliance is the first of its kind in Canada and represents a substantial advantage for participating Canadian dealers.

SNAP Home Finance generates thousands of new leads for All-Star Alliance members and the experience for them is effortless. Through an integrated marketing approach with highly engaging content, members receive qualified, pre-approved, leads from SNAP Home Finance.

Every prospect that enters the ecosystem is pre-screened according to a set of comprehensive criteria and receives a customized experience based on the needs of each All-Star Alliance member, including pricing, intake forms, questionnaires, and agent scripts. Pre-approved leads are then booked by SNAP Home Finance through an integrated management system.

“In my 16 years in the Home Improvement Finance industry, I haven’t seen a more innovative program. We’re focused on helping our dealers generate record-breaking growth, and the SNAP All-Star Alliance is a perfect example of a program designed to do exactly that. We’re already generating thousands of highly motivated prospects for All-Star Alliance members, without them having to put in any extra work,” said Kevin Stout, Senior Executive Vice President of Sales of SNAP Home Finance. “This is a groundbreaking program in the home renovation financing space and is a gamechanger for our dealer network.”

“This program represents a significant strategic shift for us,” added Stout. “We are laser-focused on transforming the B2C infrastructure that we have developed over time to generate exactly what our valued dealers want – more sales and revenue.”

The SNAP All-Star Alliance is exclusively brought to Canadian dealers by SNAP Home Finance. Dealers looking to learn more can contact their Business Development Manager or visit www.snap4home.com/all-star-alliance/.

With more than $1.7 billion home improvement loans to thousands of Canadians from coast to coast, SNAP Home Finance provides consumers with innovative financing solutions to modernize their residential properties, while proudly delivering industry-leading dealer experience and support. SNAP Home Finance knows that its dealers are its greatest asset.

Contacts

For more information about SNAP Home Finance or the All-Star Alliance, contact:

Jacob Watson

VP Marketing

(647) 296-5160

JWatson@snapfinancial.com

AUSTIN, Texas–(BUSINESS WIRE)–#agentcount—Keller Williams (“KW”), the world’s largest real estate technology franchise by agent count, reports Q4 ’21 and year-end results, having achieved significant growth, technology milestones, and topped franchise and corporate culture rankings.

“In the midst of a hypercompetitive market, 2021 was absolutely a record-breaking year for us,” said Carl Liebert, CEO of kwx. “With historically low inventory rates, finding a home has been really challenging in the last year.”

“And so we’re extremely pleased to report that our agents changed 1.3 million lives in 2021,” said Liebert. “We brought 1.3 million people home.”

Keller Williams is home to 173,274 agents in the United States and Canada and 14,847 agents operating outside of the United States and Canada, for a total of 188,121 agents worldwide, as of December 31, 2021.

“We track 42 measurements of production at KW and in 2021 we set all-time records in 21 of those metrics,” said Marc King, president, KW. “And, we’re very proud to report our gross commission income per agent reached $77.8 thousand in the fourth quarter of 2021, which is a 72% increase over the last decade.”

“Right now, the median agent gross income in our industry for real estate agents is $43,330,” said King. “When you’re doing the right things, everyone wins.”

Corporate and Industry Highlights

• In October, Forbes ranked KW on its annual list of World’s Best Employers 2021.
• In October, KW won an Inman Innovator award for ‘Podcast of the Year 2021.’
• In October, Franchise Times featured KW on its annual list of Top 400 Franchises 2021.
• In October, Franchise Business Review featured KW on its list of Best Franchises for Veterans 2021.
• In October, KW and Hergenrother Realty Group partnered to launch Livian, a people-first real estate platform for high-producing expansion teams.
• In October, KW announced a strategic collaboration with Sisu to power coaching dashboards within Command.
• In October, KW announced an expansion into Suriname.
• In November, KW unveiled the KW School of Real Estate (KSCORE), a national, first-of-its-kind, fully-digital real estate training program, in partnership with Kaplan.
• In November, KW unveiled KW Military, to recognize, honor and provide focused value to the U.S. military community via a robust suite of real estate and financial services.
• In November, Forbes ranked KW on its annual World’s Top Female-Friendly Companies 2021.
• In December, KW announced an expansion into São Paulo, Brazil, amid worldwide momentum.
• In December, KW announced a major expansion of its community-based business initiative.
• In December, KW launched the Command App for all KW agents.

“We continue to aggressively innovate on behalf of our market centers, agents and consumers,” said Chris Cox, chief technology and digital officer, kwx, the holding company of KW. “With the release of Command App in December, we’re again seeking to further empower our agents with real-time actionable insights to drive their businesses’ growth.”

“In the 75 days since launch, we’ve seen incredible adoption from our agents,” said Cox.

United States and Canada (production in Q4 ’21)

• Agents closed 331.9 thousand transactions in Q4 ’21, down 5.4% over Q4 ’20.
• Agents closed almost $138.9 billion in sales volume, up 11.5% from Q4 last year.
• Agents took 147.8 thousand new listings (new market inventory), down 5.8% over Q4 ’20.
• Agents wrote 337.9 thousand contracts (projected closings), down 4.2% over Q4 ’20.
• Contracts written volume was $141.3 billion, up 13.1% over Q4 ’20.

United States and Canada (production year-end 2021)

• As of December 31, agents closed more than 1.3 million transactions, up 9.9% over YTD ’20.
• Agents closed $532.2 billion in sales volume, up 30.6% over YTD ’20.
• Agents took 728.9 thousand new listings (new market inventory), up 2.2% over YTD ’20.
• Agents wrote 1.5 million contracts (projected closings), up 7.8% over YTD ’20.
• Contracts written volume was $576.6 billion, up 28.1% over YTD ’20.

“We are very proud of our continuing market share gains in the U.S. and Canada, while we declined slightly in transactions and new listings – that’s more indicative of the base effect of Q4 ’20,” said Jason Abrams, head of industry, kwx. “The COVID shutdowns in early 2020 allowed for a significant influx of pent-up housing demand to hit our agents in Q4 of 2020.”

“As a result, our ongoing market share gains can best be seen in our year-end results and by comparing our Q4 ’21 to our Q4 ’19 benchmarks,” said Abrams. “Compared to Q4 ’19, across the U.S. and Canada, our agents increased our homes sold and new listings up 21.8% and 2.2%, respectively.”

Keller Williams Worldwide (KWW) Momentum (production outside U.S. and Canada in Q4 ’21)

• As of December 31, agent count outside the U.S. and Canada was 14,847, up 23.0% from Q4 ’20.
• Agents closed 18.9 thousand transactions in Q4 ’21, up 35.9% over Q4 ’20.
• Agents closed $3.6 billion in sales volume, up 48.2% from Q4 ’20.
• Agents took 24.5 thousand new listings (new market inventory), up 4.4% over Q4 ’20.
• Agents wrote 21.4 thousand contracts (projected closings), up 25.5% over Q4 ’20.
• Contracts written volume was $3.0 billion, up 40.6% over Q4 ’20.

KWW Momentum (production outside U.S. and Canada year-end 2021)

• As of December 31, agents closed 63.6 thousand transactions, up 57.8% over YTD ’20.
• Agents closed $12.1 billion in sales volume, up 88.7% over YTD ’20.
• Agents took 107.8 thousand new listings (new market inventory), up 17.6% over YTD ’20.
• Agents wrote 74.6 thousand contracts (projected closings), up 46.6% over YTD ’20.
• Contracts written volume was $10.9 billion, up 69.9% over YTD ’20.

“No one predicted the challenges of 2021, yet our international operations are thriving and we’re growing at a faster clip than ever,” said William E. Soteroff, president, KWW. “And, that’s due to a steadfast commitment to our values and principles and to providing the industry’s best agent training.”

Outside of the U.S. and Canada, KWW’s regions include: Albania; Argentina; Aruba; Belgium; Belize; Bermuda; Cambodia; Chile; Colombia; Costa Rica; Cyprus; Czech Republic; Dominican Republic; Dubai, UAE; France; Greece; Honduras; Indonesia; Ireland; Israel; Italy; Jamaica; Japan; Luxembourg; Malaysia; Mexico; Monaco; Mongolia; Morocco; Nicaragua; Northern Cyprus; Panama; Paraguay; Peru; Philippines; Poland; Portugal; Puerto Rico; Romania; São Paulo, Brazil; Serbia; Sint Maarten; Slovenia; Southern Africa; Spain; Suriname; Thailand; Turkey; Turks and Caicos; United Kingdom; Uruguay; and Vietnam.

About Keller Williams

Austin, Texas-based Keller Williams, the world’s largest real estate technology franchise by agent count, has more than 1,100 offices and 200,000 associates. The franchise is also No. 1 in units and sales volume in the United States. kwx is the holding company of Keller Williams.

In 2020, Keller Williams initially began the formation of kwx. kwx is composed of Keller Williams, Keller Williams Worldwide and Keller Home Financial Services, consisting of Keller Mortgage, Keller Offers, Keller Covered, Keller Title and The Partnership Program.

Since 1983, the company has cultivated an agent-centric, technology-driven and education-based culture that rewards agents as stakeholders. For more information, visit kwx.kw.com.

Contacts

Media Contact:

Darryl G. Frost

Director of Public Relations and Media Relations

darryl.frost@kw.com / 254-466-3627

MIAMI–(BUSINESS WIRE)–#CapitalCommitments–H.I.G. Capital (“H.I.G.”), a leading global alternative asset management firm with over $47 billion of equity capital under management, is pleased to announce the closing of its fourth U.S. Realty Partners fund, H.I.G. Realty Partners IV (the “Fund”). The Fund closed with aggregate capital commitments of $838 million, exceeding its target.* The Fund will continue to pursue the successful investment strategy employed by its predecessor funds and target mid-cap assets with gross asset values (“GAV”) typically less than $200 million, primarily in the major markets of the U.S. The Fund has already made nine investments.

Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-CEOs, commented: “We are very proud of the continued success of the H.I.G. Realty team and their differentiated, value-add strategy focused on the mid-cap segment of the U.S. real estate market. The support from our limited partners validates our conviction in the team’s ability to execute on the Fund’s investment strategy.”

David Hirschberg and Ira Weidhorn, Co-Heads of H.I.G. Realty Partners, added: “We are excited to expand upon H.I.G.’s successful value-add real estate strategy with the closing of H.I.G. Realty Partners IV. We continue to source unique investment opportunities across the real estate asset class spectrum, benefiting from H.I.G.’s scale and operational synergies, and creating a meaningful competitive advantage for us.”

Jordan Peer Griffin, Executive Managing Director and Global Head of H.I.G. Capital Formation, added: “The Fund received tremendous support from our global investor base, allowing us to complete a mostly virtual fundraising process. The Fund is comprised of a diverse group of leading real estate investors including foundations, endowments, public and corporate pensions, consultants, sovereign wealth funds, and family offices in North America, Europe, Asia and the Middle East.”

About H.I.G. Capital

H.I.G. is a leading global alternative assets investment firm with over $47 billion of equity capital under management.** Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

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

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

* Aggregate capital commitments include co-investment capital.

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

 

Contacts

David Hirschberg

Co-Head of H.I.G. Realty Partners

dhirschberg@higcapital.com

Ira Weidhorn

Co-Head of H.I.G. Realty Partners

iweidhorn@higcapital.com

Jordan Peer Griffin

Executive Managing Director

jpeer@higcapital.com

www.higcapital.com

TORONTO–(BUSINESS WIRE)–Slate Office REIT (TSX: SOT.UN) (the “REIT”), an owner and operator of office real estate, announced today that the Q4 2021 earnings call transcript and investor update are now available on the REIT’s website and can be accessed by visiting the following links:

• Slate Office REIT – Q4 2021 earnings call transcript
• Slate Office REIT – Q4 2021 investor update

About Slate Office REIT (TSX: SOT.UN)

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

About Slate Asset Management

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

Forward-Looking Statements

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

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

SOT-FR

Contacts

Investor Relations

+1 416 644 4264

ir@slateam.com

TORONTO–(BUSINESS WIRE)–Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today that the Q4 2021 earnings call transcript and investor update are now available on the REIT’s website and can be accessed by visiting the following links:

• Slate Grocery REIT – Q4 2021 earnings call transcript
• Slate Grocery REIT – Q4 2021 investor update

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

Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $1.9 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their everyday needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com to learn more about the REIT.

About Slate Asset Management

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

Forward-Looking Statements

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

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

SGR-FR

Contacts

Investor Relations

+1 416 644 4264

ir@slateam.com

LADERA RANCH, CALIF.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully-integrated self storage company, and Strategic Storage Growth Trust II, Inc. (“SSGT II”), a private REIT sponsored by an indirect subsidiary of SmartStop, announced today that the companies have entered into a definitive agreement to merge in an all-stock transaction, in which SSGT II will merge into a newly-formed subsidiary of SmartStop. The combined company will have a combined portfolio of 150 wholly-owned operating properties, representing approximately 11.5 million net rentable square feet and 100,500 units. This transaction will allow the combined company to, among other things, achieve further economies of scale and potentially create greater value as it takes advantage of the benefits of a larger aggregate portfolio.

Per the merger agreement, SmartStop will acquire all of the real estate owned by SSGT II, consisting of 10 wholly-owned operating self storage facilities located across seven states, an interest in one operating property held through an unconsolidated joint venture with an unaffiliated third party and two properties in various stages of development that are held through an unconsolidated joint venture with an unaffiliated third party. The total SSGT II operating portfolio, including the operating joint venture property, currently represents approximately 8,500 self storage units and 900,000 net rentable square feet. Additionally, the Company will obtain SSGT II’s interest in one parcel of land being developed into a self storage facility in an unconsolidated joint venture with an unaffiliated third party, as well as SSGT II’s rights to acquire a property located in Southern California.

“We are excited to announce this transaction and look forward to combining the high-quality assets in the SSGT II portfolio with SmartStop’s existing portfolio,” said H. Michael Schwartz, Chairman and Chief Executive Officer of SmartStop. “With this merger, the combined company will be better positioned to recognize expense efficiencies and aggregate size and scale for the future. Since all of the SSGT II portfolio is already branded as SmartStop® Self Storage, there will be total continuity of operations throughout the process.”

Under the terms of the agreement, SSGT II stockholders will receive 0.9118 shares of SmartStop common stock for each share of SSGT II common stock they own. This exchange ratio represents an increase of 37 percent above SSGT II’s most recent offering price, when using SmartStop’s most recent estimated NAV of $15.08 per share. The transaction values SSGT II’s real estate assets at approximately $280 million, based on September 30, 2021 share counts and debt principal balances outstanding, and using the agreed exchange ratio and SmartStop’s estimated NAV per share of $15.08. Upon completion of the transaction, existing SmartStop stockholders will own approximately 79% of the combined company, SSGT II stockholders will own approximately 11%, and management will own approximately 10%, based on SmartStop and SSGT II’s share and operating partnership unit counts as of September 30, 2021.

The merger is expected to close during the first half of 2022. The merger agreement provides SSGT II a 30-day go shop period, during which SSGT II (through the board of directors of SSGT II and its representatives and advisors) may solicit alternative acquisition proposals from third parties as described in the merger agreement. Additional information regarding the merger and the merger agreement can be found in the Form 8-K filed by SmartStop with the Securities and Exchange Commission on February 24, 2022.

Suspension of Distribution Reinvestment Plan

In connection with the signing of the merger agreement, SSGT II temporarily suspended its distribution reinvestment plan (“DRP”), and will proceed paying all future distributions in cash, beginning with February’s declared distribution. There has been no change to the amount or frequency of SSGT II distributions.

Advisors

Robert A. Stanger & Company, Inc. serves as financial advisor and Venable LLP serves as legal counsel to the SmartStop special committee, while Nelson Mullins Riley & Scarborough LLP serves as legal counsel to SmartStop. KeyBanc Capital Markets Inc. serves as financial advisor and Bass, Berry & Sims PLC and Shapiro Sher Guinot & Sandler, P.A. serve as legal counsel to the SSGT II board of directors.

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 February 23, 2022, SmartStop is one of the largest self storage companies in North America, with an owned and managed portfolio of 163 properties in 19 states and Ontario, Canada and comprising approximately 111,000 units and 12.6 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.

About Strategic Storage Growth Trust II, Inc.

SSGT II focuses on opportunistic self storage properties. SSGT II wholly owns 10 self storage facilities comprising approximately 7,700 self storage units and 850,000 net rentable square feet of storage space, as well as one operating property in a joint venture in the Greater Toronto Area with SmartCentres REIT, one of the largest real estate investment trusts in Canada.

Additional Information and Where to Find It

In connection with the proposed Merger, SmartStop intends to file a registration statement on Form S-4 with the SEC that will include a proxy statement of SSGT II and will also constitute a prospectus of SmartStop. SSGT II intends to mail or otherwise provide to its stockholders the proxy statement/prospectus and other relevant materials, and hold a meeting of its stockholders to obtain the requisite stockholder approval of the Merger. BEFORE MAKING ANY VOTING DECISION, SSGT II’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER AND THE PARTIES TO THE PROPOSED MERGER. Investors and security holders may obtain a free copy of the proxy statement/prospectus and other documents that SmartStop files with the SEC (when available) from the SEC’s website at www.sec.gov and SmartStop’s website at https://strategicreit.com/site/sst2. In addition, the proxy statement/prospectus and other documents filed by SmartStop with the SEC (when available) may be obtained from SmartStop free of charge by directing a request to the following address: SmartStop Self Storage REIT, Inc., Attention: Nicholas M. Look, 10 Terrace Road, Ladera Ranch, California 92694, or by calling (877) 327-3485.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy or sell any securities or a solicitation of a proxy or of any vote or approval. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. This communication may be deemed to be solicitation material in respect of the proposed Merger.

Participants in Solicitation Relating to the Merger

SmartStop and SSGT II and their respective directors and executive officers, as well as SS Growth Advisor II, LLC, may be deemed, under SEC rules, to be participants in the solicitation of proxies from SSGT II’s stockholders with respect to the proposed Merger. Security holders can obtain information regarding the names, affiliations and interests of such persons in SmartStop’s proxy statement filed with the SEC on April 15, 2021 or in the proxy statement/prospectus regarding the proposed Merger when it becomes available. Investors may obtain additional information regarding the interests of such participants by reading the proxy statement/prospectus regarding the proposed Merger when it becomes available.

Forward-Looking Statements

Statements about the expected timing, completion and effects of the Merger and the other transactions contemplated by the Merger Agreement and all other statements in this press release and any attachments provided with this press release, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements.

All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. SmartStop and SSGT II may not be able to complete the proposed transaction on the terms described above or other acceptable terms or at all because of a number of factors, including without limitation, the following: (i) the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; (ii) the failure to obtain the approval of SSGT II’s stockholders or the failure to satisfy the other closing conditions to the Merger; (iii) risks related to disruption of management’s attention from the parties’ ongoing business operations due to the transaction; and (iv) the effect of the announcement of the Merger on the ability of the parties to retain and hire key personnel, maintain relationships with their customers and suppliers, and maintain their operating results and business generally.

Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements represent SmartStop’s and SSGT II’s views as of the date on which such statements were made. SmartStop and SSGT II anticipate that subsequent events and developments may cause its views to change. These forward-looking statements should not be relied upon as representing SmartStop’s or SSGT II’s views as of any date subsequent to the date hereof. Additional factors that may affect the business or financial results of SmartStop are described in the risk factors included in SmartStop’s filings with the SEC, including SmartStop’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, copies of which are available on the SEC’s website, www.sec.gov. SmartStop and SSGT II expressly disclaim a duty to provide updates to forward-looking statements, whether as a result of new information, future events or other occurrences.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-542-3331

IR@smartstop.com

Canadian design-build development firm will use Procore to take on more projects, enhance safety processes and grow its team

TORONTO–(BUSINESS WIRE)–Procore Technologies Inc. (NYSE: PCOR), a leading global provider of construction management software, today announced that Dexel has selected Procore as its construction management platform.

Dexel, a division of Lawen Group, is a design-build multi-family residential developer that operates exclusively in Halifax. The vision of the family-owned firm is to help shape the future of the Halifax Regional Municipality for generations. Dexel was an early adopter of Building Information Modelling (BIM) in the area and prides itself on using the best technology available.

Some of the point solutions Dexel was using were either no longer being updated or did not fully address the organization’s needs. It also needed a more sustainable way to store, manage, and distribute project documentation that was previously disjointed, difficult to access, and not centralized. Dexel decided to change to a single platform that could integrate with its remaining systems while meeting all of its remaining business, project, and construction requirements.

After a careful evaluation it chose Procore as its unified construction management platform. Dexel was impressed by the extensive and prompt customer support from the company. The thorough assessment period, guided by Procore’s Canadian team, helped demonstrate to Dexel how using a single platform could support its business.

Procore Project Management and Quality & Safety will integrate with some of Dexel’s existing tools, such as Instruction Site and MS Project. The platform will help Dexel share project information more quickly with contractors, enhance its safety processes and grow its 20-person team.

“Procore will help us not just work better as a team but to also take on more projects than we could before,” said Kris Skiba, VP Design and Construction, Dexel. “We’re successful when we’re able to get our contractors the information they need. That’s how the building gets done.”

“Dexel is a local champion of technological innovation in the industry,” said Jas Saraw, Vice President, Canada at Procore. “Its decades-long record of quality developments in and around Halifax speaks for itself. We’re excited to partner with Dexel to continue to raise the bar in the multi-family residential space. As companies like Dexel look to the future, they are recognizing the power of a platform-based approach to technology. This strategy drives increased value from their existing technology footprint while continuing to level up the business with modern, all-encompassing platforms like Procore.”

About Dexel

Dexel, a division of the Lawen Group, is a family-owned design-build development firm located in Halifax, Nova Scotia. Dexel oversees the operations of Dexel Developments Limited and Dexel Architecture, managing all aspects of project development from preliminary design to the final building commissioning and occupancy phase. Dexel’s sister company, Paramount Management (Paramount), provides full-service property management services for Dexel’s mixed-use residential projects throughout Halifax Regional Municipality (HRM). This integrated approach to property development and management ensures that quality control is maintained at every level.

Dexel operates with the vision that their properties will help shape the future of HRM for generations to come. For more information, visit https://dexel.ca/.

About Procore

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

Contacts

Steve Gold/Anita Wong

StrategicAmpersand Inc. (on behalf of Procore)

ProcorePR@stratamp.com

TORONTO–(BUSINESS WIRE)–Home Capital Group Inc. (“Home Capital”) (TSX:HCG) and its subsidiary Home Trust Company (“Home Trust” ) announce the closing of a previously disclosed private placement of residential mortgage-backed securities (“RMBS”) issued by Classic RMBS Trust (the “Series 2022-1 Notes” or the “Notes”), a securitization vehicle sponsored by Home Trust. The Series 2022-1 Notes are backed by a portfolio of near-prime, uninsured, residential mortgages and are composed of A, B and Z tranches that aggregate to $500 million.

The A tranche of notes totaling $425 million was sold to accredited investors by a syndicate co-led by BofA Securities, BMO Capital Markets and RBC Capital Markets. The remaining $75 million of Notes, composed of the B and Z tranches, was retained by Home Trust.

The A Tranche is rated AAA(sf) by DBRS and Aaa(sf) by Moody’s. It was priced at a 105 basis point spread over the comparable term Government of Canada bond curve equating to an annual interest rate of 2.63%.

The Series 2022-1 Notes will not be qualified for distribution to the public under the securities laws of any province or territory of Canada and may not be offered or sold in Canada, directly or indirectly, other than pursuant to applicable private placement exemptions. The Notes have not and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes are being offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act, or outside the United States to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes in any jurisdiction, or an offer to purchase. The press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

About Home Capital: Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services. In addition, Home Trust and its wholly owned subsidiary, Home Bank, offer deposits via brokers and financial planners, and through a direct-to-consumer deposit brand, Oaken Financial. Licensed to conduct business across Canada, we have offices in Ontario, Alberta, British Columbia, Nova Scotia, and Quebec.

Contacts

Jill MacRae

VP, Investor Relations and ESG

416-933-4991

investor.relations@hometrust.ca