LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada announced that its Founder, Chairman, and Chief Executive Officer, H. Michael Schwartz, will speak at the eighth annual KeyBanc Self Storage Investor Forum on Thursday, January 8, 2026.

The forum will be held at the Westin New York Grand Central in New York City. Mr. Schwartz will participate in a fireside chat titled “The IPO: What It Means to Be Public, Why Now, and What’s Next?”. The session will take place at 12:00 p.m. Eastern Standard Time for registered attendees.

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

SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 1,000 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, and through its indirect subsidiary Argus Professional Storage Management, LLC, offers third-party management services in the U.S. and Canada. As of January 5, 2026, SmartStop has an owned or managed portfolio of more than 460 operating properties in 35 states, Washington D.C., and Canada, comprising approximately 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 49 operating self-storage properties in Canada, which total approximately 42,200 units and 4.3 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

Investor Relations Contact:

David Corak

Senior VP of Corporate Finance and Strategy

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

Media Relations Contact:

Spotlight Marketing Communications

949-427-5172

info@spotlightmc.com

TORONTO–(BUSINESS WIRE)–RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced that it is scheduled to release its financial and operational results for the three months and year ended December 31, 2025, after the market closes on Tuesday, February 17, 2026.

Interested parties are invited to participate in a conference call with management on Wednesday, February 18, 2026 at 10:00 a.m. Eastern time. To access the conference call, click on the following link to register at least ten minutes prior to the scheduled start of the call: Pre-registration link. Participants who pre-register prior to the call will receive an email with dial-in credentials including login passcode and PIN to gain immediate access to the live call. Those that are unable to pre-register may dial-in for operator assistance by calling 1-833-950-0062 and entering the access code:255852.

A live webcast will also be available in listen-only mode. To access the simultaneous webcast, go to the following link on RioCan’s website: Events and Presentations and click on the link for the webcast.

If you cannot participate in the live mode, a replay will be available for one week following the date of the live conference call. To access the replay, please dial 1-866-813-9403 followed by the access code: 959096.

About RioCan

RioCan meets the everyday shopping needs of Canadians through the ownership, management and development of necessity-based and mixed-use properties in densely populated communities. As at September 30, 2025, our portfolio is comprised of 173 properties with an aggregate net leasable area of approximately 32 million square feet (at RioCan’s interest). To learn more about us, please visit www.riocan.com.

Contacts

RioCan Real Estate Investment Trust

Investor Relations Inquiries

Email: ir@riocan.com

ARLINGTON, Va.–(BUSINESS WIRE)–CoStar, the leading global provider of online real estate marketplaces, information and analytics in the property markets, today released the three key trends that will likely shape Canada’s real estate market outlook in 2026.

An economy in structural transition

In 2025, Canada’s economy outperformed expectations, with strong domestic spending helping avoid a recession. The 2026 outlook, however, may be less optimistic.

“Population growth is poised to decline due to new federal government rules restricting immigration for non-permanent residents,” said Carl Gomez, Chief Economist for Canada at CoStar Group. “With households still reeling from significant affordability concerns and an elevated cost of living, Canada’s domestic economy is likely to struggle replicating its 2025 standout performance, resulting in a demand-side drag for some household-driven property types.”

A cyclical housing supply overhang

Canada has seen a growing inventory of for-sale condos, with the excess inventory expected to clear in the next six to nine years.

“Developers have shifted their focus to purpose-built rental apartments in recent years, resulting in the highest number of rental apartment units currently under construction in the last 50 years,” said Gomez. “Given high development costs, the average unit rent is considerably high, leaving many of the recently completed units vacant due to affordability constraints.”

Average home prices and apartment rents are expected to continue declining in the upcoming year, with an equilibrium unlikely to return until 2027.

Capital market reset

As inflation remains elevated and government debt continues to rise, long-term interest and mortgage rates have not dropped in response to central bank policy cuts over the past two years.

“Capital market conditions are unlikely to be a continued tailwind for the sector,” said Gomez. “Distress-driven transactions, especially those involving land and development assets, are likely to continue to increase and prevent a meaningful improvement to overall deal activity in 2026.”

Real estate capital stack is likely to continue evolving in 2026 as new sources, including private real estate investment trusts, family offices, infrastructure funds, and private debt, help to narrow the existing gap between buyer and seller expectations over the longer term.

The full analysis can be found here.

For more information about the company and its products and services, please visit costargroup.com.

About CoStar Group

CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted over 143 million average monthly unique visitors in the third quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

This news release includes “forward-looking statements” including, without limitation, statements regarding CoStar’s expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that domestic economic conditions in Canada, such as increased cost of living does not drive down consumer spending, does not occur or does not negatively impact the household property market as expected across supply and demand; the risk that Canadian capital market conditions and transaction activity is not impacted as expected by macroeconomic conditions. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2024 and Forms 10-Q for the quarterly periods ended March 31, 2025, June 30, 2025, and September 30, 2025, each of which is filed with the SEC, including in the “Risk Factors” section of those filings, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

News Media Contacts
Haley Luther

Senior Communications Manager

(216) 278-0627

hluther@costar.com

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the acquisition of a 1.78-acre land parcel in Toronto, Ontario, for the planned development of a Class A self-storage facility. SmartStop will undertake the development in partnership with SmartCentres (TSX: SRU.UN).

The site at 1125 Finch Ave is located approximately nine miles north of downtown Toronto and one mile southeast of York University, placing it squarely within one of the most densely populated and supply-constrained trade areas in the city. An estimated 1 million residents live within a five-mile radius, supported by sustained residential density and limited availability of modern self-storage facilities. These fundamentals underpin durable, long-term demand and create a significant barrier to entry for new competitors.

The proposed development will consist of a four-story, state-of-the-art self-storage facility totaling approximately 100,000 net rentable square feet, comprising approximately 1,100 climate-controlled units. The facility is designed to capture unmet demand in a market characterized by strong absorption, constrained land availability, and high replacement costs.

Construction is scheduled to commence in the fourth quarter of 2026, with a planned soft opening in the fourth quarter of 2027. Upon completion, the facility will serve the established neighborhoods of York University Heights, Downsview, Black Creek, Humbermede, Glen Park, and Emery, further solidifying SmartStop’s position as a dominant self-storage operator in the Greater Toronto Area.

“This acquisition underscores our commitment to disciplined growth in supply-constrained, top-tier urban markets with compelling demographic trends,” said H. Michael Schwartz, Chief Executive Officer of SmartStop Self Storage REIT, Inc. “By partnering with SmartCentres, we are advancing a premier self-storage development that expands our Canadian footprint and positions us to capture long-term value in a high-growth market.”

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

SmartStop Self Storage REIT, Inc. (“SmartStop”) (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of more than 1,000 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, and through its indirect subsidiary Argus Professional Storage Management, LLC, offers third-party management services in the U.S. and Canada. As of December 23, 2025, SmartStop has an owned or managed portfolio of more than 460 operating properties in 35 states, Washington D.C., and Canada, comprising approximately 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 49 operating self-storage properties in Canada, which total approximately 42,200 units and 4.3 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
Senior VP of Corporate Finance and Strategy

SmartStop Self Storage REIT, Inc.

IR@smartstop.com

TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) today announced the closing of the sale of the Baldi property for €14.0 million ($22.9 million). The 124,000 square foot office and mixed-use property comprised of four buildings around a central courtyard, is located near the Paris ring road in Saint-Ouen, France.

“This closing represents our second completed disposition in 2025, together generating approximately $23 million in cash for the REIT,” said Stéphane Amine, President and Chief Executive Officer of Inovalis REIT. “These transactions reflect our continued focus on asset recycling and balance sheet strength, while enhancing our financial flexibility to advance the REIT’s strategic priorities.”

The net proceeds from this transaction after the full repayment of bank debt related to the property and disposition costs is expected to be approximately €11.2 million ($18.3 million) and will be used for capital expenditures relating to the re-positioning and/or re-development of currently owned properties and further reducing the REIT’s indebtedness.

FORWARD-LOOKING INFORMATION

About Inovalis REIT

Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 11 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund (AIF) 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 EUR 7 billion of AuM 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

Stephane Amine, President and Chief Executive Officer
Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3315

stephane.amine@inovalis.com

Khalil Hankach, Chief Financial Officer
Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3313

khalil.hankach@inovalis.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “REIT”) (TSX: PMZ.UN) announced today progress on its disposition program that supports its capital recycling objectives.

Northland Disposition

On December 19, 2025, Primaris completed the sale of Northland Village and Northland Professional Centre (“Northland”) in Calgary, Alberta, for $154.0 million, to a Canadian institutional investor. Northland Village, a recently redeveloped, high quality, open air centre, is anchored by Walmart, Winners, Best Buy, GoodLife, Dollarama, and Spinelli Italian Centre Shop, a specialty grocery store and restaurant. Situated in an affluent trade area in northwest Calgary, Northland attracted strong interest from a broad pool of buyers.

“Primaris is very pleased to close out the year with the strategic disposition of Northland, continuing to demonstrate our track record of disciplined capital allocation and capital recycling,” said Alex Avery, Chief Executive Officer. “Executing $400 million of non-core asset sales in 2025 underscores Primaris’ commitment to maintain a best-in-class balance sheet while continuing to leverage the competitive advantage our management platform provides, for acquiring, owning, and managing market leading Canadian malls.”

Northland was sold at IFRS fair value, with proceeds allocated to the repayment of debt, repurchase, and cancellation of units under the REIT’s normal course issuer bid, and general trust purposes.

Northland Village and Northland Professional Centre were both unencumbered at the time of sale.

Primaris maintains its 2025 and 2026 guidance, as this disposition was fully anticipated.

The below table summarizes the REIT’s dispositions year to date.

Property Name	Location	Type	Gross Leasable Area	In-place Occupancy		Disposition Price1 ($ millions)			Closing Date
4 acres	Medicine Hat, AB	Excess land	n/a	n/a		2.0			February 21, 2025
Sherwood Park Mall and Sherwood Park Professional Centre2	Sherwood Park, AB	Enclosed shopping centre and professional centre	415,237	94.7 %		107.0			February 28, 2025
St. Albert Centre3	St. Albert, AB	Enclosed shopping centre	352,812	97.3 %		60.0			March 31, 2025
Lansdowne Industrial	Peterborough, ON	Industrial Centre	265,076	87.3 %		9.9			May 30, 2025
Carry Drive, Dunmore Plaza and Park Plaza	Medicine Hat, AB	Strip plazas	93,914	74.2 %		12.7			July 21, 2025
Northpointe Town Centre	Calgary, AB	Open air plaza	200,582	100.0 %		54.5			July 23, 2025
Northland Village and Northland Professional Centre	Calgary, AB	Open air and professional centre	416,909	94.0 %		154			December 19, 2025
		2025 Dispositions	1,744,530			$ 400.1

1 Before transactions costs.

2 Disposition consideration included a $4.1 million 5-year vendor take-back note with an annual interest rate of 6.0%.

3 Disposition consideration included a $10.0 million 1-year vendor take-back note with an annual interest rate of 6.0%.

Financing Update

Primaris used a portion of the net proceeds of the Northland disposition to fully repay its $100 million unsecured bilateral non-revolving term facility, and concurrently unwound the associated $50 million hedge.

In addition, Primaris extended the term of its $600 million unsecured revolving credit facility by one year to January 4, 2029, and achieved a 0.15% reduction in the variable interest rate on the facility from either: (i) 0.35% over Prime to 0.20% over Prime, or (ii) 1.35% over Adjusted Canadian Overnight Repo Rate Average (“CORRA”) to 1.20% over Adjusted CORRA.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 15.2 million sq.ft., valued at approximately $5.2 billion at Primaris’ share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape.

Forward-Looking Statements

Certain statements included in this news release constitute ‘‘forward-looking information’’ or “forward-looking statements” within the meaning of applicable securities laws. The words “will”, “expects”, “plans”, “estimates”, “intends” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements made or implied in this news release include but are not limited to statements regarding: the REIT’s growth strategy, the REIT’s guidance for 2025 and 2026 and the allocation of proceeds from the Northland disposition for debt repayment, unit repurchases under the REIT’s normal course issuer bid, and general trust purposes. Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements are not guarantees of future performance and are based on estimates and assumptions that are inherently subject to risks and uncertainties. Primaris cautions that although it is believed that the assumptions are reasonable in the circumstances, actual results, performance or achievements of Primaris may differ materially from the expectations set out in the forward-looking statements. Material risk factors and assumptions include those set out in the REIT’s Annual MD&A which is 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.

Readers are also urged to examine the REIT’s materials filed with the Canadian securities regulatory authorities from time to time as they may contain discussions on risks and uncertainties which could cause the actual results and performance of Primaris to differ materially from the forward-looking statements contained in this news release. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements are made as the date of this news release and Primaris, except as required by applicable securities laws, assumes no obligation to update or revise them to reflect new information or the occurrence of future events or circumstances.

For more information:

TSX: PMZ.UN

www.primarisreit.com

www.sedarplus.ca

 

Contacts

Alex Avery

Chief Executive Officer

416-642-7837

aavery@primarisreit.com

Rags Davloor

Chief Financial Officer

416-645-3716

rdavloor@primarisreit.com

Claire Mahaney

VP, Investor Relations

& Sustainability

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com