Park Hospitality Holdings Receives Award Honoring Corry Oakes, OTO Development’s Co-Founder and CEO; Additional Owners, Operators and Developers Received Honors

CHICAGO–(BUSINESS WIRE)–Hyatt Hotels Corporation (NYSE: H) announced the renaming of its Strategic Partner award to The Corry Oakes Strategic Partner Award, honoring the legacy of OTO Development’s co-founder and CEO who passed away unexpectedly in 2022. This award, as well as additional honors including two new categories, Purpose & Care and Operational Excellence, were presented at Grand Hyatt Baha Mar during Hyatt’s 2025 Americas Owners Conference. The theme of the conference, Business is Personal, was reflected throughout the award presentations, which celebrated the deep relationships and personal commitments that drive success across Hyatt’s owner, operator, and developer community.

Oakes was remembered as a strategic partner and close friend of the Hyatt family. Hyatt’s relationship with OTO Development has resulted in developing Hyatt Centric, Hyatt House and Hyatt Place properties across the United States. Amy Oakes, Corry’s wife, was present for the award renaming announcement, led by Jim Chu, chief growth officer, Hyatt.

“The impact that Corry Oakes had on Hyatt is immeasurable, and it was my honor to celebrate his legacy by announcing The Corry Oakes Strategic Partner Award. Corry was an exemplary partner for many years, and he is deeply missed,” said Jim Chu, chief growth officer, Hyatt. “As Hyatt continues to evolve, we are deeply appreciative of all our valued owners, operators and developers, and we extend our congratulations to this year’s award recipients.”

The 2025 Hyatt Americas Owners Conference Awards include:

• The Corry Oakes Strategic Partner Award celebrates a company’s culture, philosophies, and strong, multi-brand relationship with Hyatt. These meaningful attributes exemplify Corry Oakes’ legacy.
  • Parks Hospitality Holdings has played an instrumental role in expanding Hyatt’s portfolio in Mexico. They continue to embrace thoughtful growth, sustainability, and lead with a deep respect for local communities. Parks Hospitality Holdings’ highly anticipated openings include Park Hyatt Cancun, Grand Hyatt Mexico Santa Fe, Grand Hyatt Los Cabos and Hyatt Place Cancun Airport. The group’s focus on thoughtful growth, sustainability and local craftsmanship continues to set Hyatt apart in the region.

• Purpose & Care (NEW) celebrates a company’s demonstration of Hyatt’s purpose, to care for people so they can be their best, and meaningful support of local communities.
  • Host Hotels & Resorts received the inaugural Purpose & Care Award for their unwavering commitment to supporting communities in times of crisis, particularly following the August 2023 Maui wildfires. As wildfires devastated Lāhainā, Host Hotels & Resorts provided immediate relief and long-term support for displaced colleagues, guests, first responders, and the broader Maui community. Their dedication to recovery and rebuilding exemplifies Hyatt’s purpose of care.

• Operational Excellence (NEW) recognizes exemplary hotel operations and dedication to providing exceptional guest service.
  • GHL Hotels truly exemplifies what it means to be committed to excellence and it’s evident that guest experience is their passion. They view customer service not just as a necessity, but as a key profit driver that boosts their ADR. The two full-service Hyatt hotels that they operate, Hyatt Centric Guatemala City and Hyatt Centric San Salvador, were recently recognized for maintaining the highest-level core metrics status for the second half of 2024.
  • TKo Hospitality has been a steadfast Hyatt operator for many years and their dedication to our shared vision and goals has been instrumental in their success. When visiting any of their Hyatt Place or Hyatt House hotels, guests experience TKo Hospitality’s dedication to providing value and quality service. In 2024, they exceeded core metric expectations, increased top-line revenues and market performance.

• Developer of the Year recognizes developers for their design creativity, construction quality, attention to detail and excellence in hotel development.
  • Extell Development is a two-time Developer of the Year recipient known for transformative projects including their latest achievement, Grand Hyatt Deer Valley, which opened in November 2024. This property anchors the newly developed Deer Valley East Village—the first luxury mountain village of its kind in North America since 1981. With 436 luxury accommodations, including 55 residences, Deer Valley sets a new standard for mountain hospitality.
  • K Inmuebles was one of the first Hyatt Inclusive Collection owners to invest in Mexico and the company’s Secrets properties consistently rank in the top 10% for guest experience. Since Secrets Playa Blanca Costa Mujeres opened just over a year ago, it has become one of the top performing resorts within the entire Cancun/Riviera Maya area. The 507-room adults-only resort places an emphasis on thoughtful architecture, breathtaking views, and proximity to some of Mexico’s most beautiful natural treasures.
  • 3H Group was among the first to embrace the Hyatt Studios brand and committed to developing five properties, including the recently opened Hyatt Studios Mobile/Tillmans Corner. 3H Group also broke ground on Hyatt Studios locations in Huntsville, Al and Jacksonville, Fl, along with Caption by Hyatt Chattanooga. They also recently acquired Hyatt Place Tampa Airport / Westshore, which is set for a transformative renovation.

• Best New Property acknowledges recent hotel openings.
  • Thompson Houston (DC Partners) opened in February 2024 adjacent to Houston’s Buffalo Bayou. The 172-room Thompson Houston delivers striking design, world-class dining and skyline views. With 17,000+ square feet of event space, including a rooftop terrace and 8,000-square-foot ballroom, the property has quickly become a premier destination within the city.
  • Secrets Tides Punta Cana & Spa (Codelpa) opened in January 2024 in the Uvero Alto neighborhood as the first Hyatt hotel owned by Alvaro Pena, an industry visionary in the Caribbean. This all-suite resort offers nine restaurants along with three pools, two outdoor hot tubs and an expansive spa. With these accommodations and amenities, Secrets Tides Punta Cana is a leader within the Dominican Republic’s all-inclusive market.
  • Hyatt Place Windsor (Inspiration Group of Companies) opened in October 2024 and is ideally situated in Canada’s vibrant city of Windsor and located just minutes away from many local attractions. The exterior has a striking, curb presence, along with an inviting lobby, bar and lounge area featuring well-selected furniture and customized artwork. Since opening just over four months ago, the hotel has experienced impressive results.
  • Hyatt House Raleigh Downtown/Seaboard Station (Hoffman & Associates) opened in October 2024 in Seaboard Station, an exciting, reimagined neighborhood on the north edge of Downtown Raleigh, NC. This extended-stay hotel is part of a larger, community-first development home to lively residential and retail spaces. It features a two-level public area infused with art, an H-bar that serves both guests and locals, as well as a unique rooftop restaurant/bar, called High Rail, offering incredible views from its outdoor patio.
  • Caption by Hyatt – The Gulch (CB Ragland, HRI Hospitality, Peachtree Group) opened in December 2024 and is conveniently located in the Gulch, offering guests the very best of Downtown Nashville. The hotel’s design pays homage to the Gulch’s rich history as a former industrial and railroad hub and provides guests with Nashville-inspired décor and Café Between – the hotel’s all-day lounge.

• Best Renovation recognizes the reconfiguration and transformation of Hyatt-branded hotels.
  • Hyatt Place Kansas City/Overland Park/Metcalf (Dream Hospitality, LLC) began a comprehensive renovation in 2023, touching all areas of the guestrooms, public space and exterior. The renovation was completed in 2024 and brings new life to the building façade while the custom interior public space and guestroom designs offer a welcoming and upgraded feel.

• Best Conversion celebrates the reconfiguration of an existing property and conversion to a Hyatt-branded hotel.
  • Grand Hyatt Scottsdale Resort (Xenia Hotels & Resorts): Previously Hyatt Regency Scottsdale, the resort has been reimagined into Arizona’s first Grand Hyatt hotel. Xenia Hotels & Resorts invested more than $115 million to comprehensively transform the property. The revitalized resort features 496 redesigned guest rooms, casitas, and suites, an enhanced 2.5-acre pool and cabana experience, and expanded meeting and event space capabilities totaling over 90,000 square feet. Finishing off the experience are six new bar & restaurant concepts completed in the partnership with renowned celebrity chef, Richard Blais.
  • Hyatt Centric San Jose Escazu (Caribe Hospitality) marks the first Hyatt Centric branded hotel in Costa Rica, primely located in the vibrant Escazú neighborhood of Costa Rica’s capital city. In 2022, Caribe Hospitality acquired this former Holiday Inn hotel and, following an extensive two-year renovation, it reopened as a completely reimagined Hyatt Centric property with modern décor and art that highlights the history and identity of the region.
  • Impression Isla Mujeres by Secrets (Secretos Isla Mujeres) marked the debut of the Impression by Secrets brand in this iconic Mexico destination. This hotel, which stood half-built for more than a decade, was acquired and transformed into a luxury, adults-only resort featuring stunning artwork, architecture and interior design, and provides guests with elevated dining experiences featuring local ingredients and contemporary culinary techniques.
  • Hyatt House Colorado Springs Airport (Coughlin and Company) extended-stay hotel allows guests to explore the best of Colorado Springs along with the comforts of home. Guests visiting this hotel are conveniently located close to countless adventures in the magnificent Rocky Mountains. In 2024, the hotel’s customer service score was in the top 15% of all Hyatt House hotels in the Americas region.

• Best Adaptive Re-Use honors outstanding Hyatt-branded hotels developed from alternative real estate uses.
  • Hyatt Centric Santo Domingo (Grupo Martinon) debuted in October 2024 as the first Hyatt Centric brand hotel in the Caribbean. This property has undergone a significant transformation and repurposing from a bland office building to one of Santo Domingo’s most vibrant and stylish hotels. Hyatt Centric Santo Domingo marks Grupo Martinon’s first urban property in Santo Domingo.
  • Hyatt House BWI Airport (Tathata LLC) offers convenient access to BWI Airport and downtown Baltimore, making it an ideal choice for all travelers. Originally built in the 1970s, the building previously housed the NSA and various government contractors. After its acquisition in 2017, it underwent a comprehensive renovation, culminating in August 2024. The transformation resulted in a stunning Hyatt House hotel, featuring a modern lobby and guestrooms designed with the latest contemporary interior design package.

For more information, please visit hyatt.com/development.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of December 31, 2024, the Company’s portfolio included more than 1,400 hotels and all-inclusive properties in 79 countries across six continents. The Company’s offering includes brands in the Luxury Portfolio, including Park Hyatt®, Alila®, Miraval®, Impression by Secrets, and The Unbound Collection by Hyatt®; the Lifestyle Portfolio, including Andaz®, Thompson Hotels®, The Standard®, Dream® Hotels, The StandardX, Breathless Resorts & Spas®, JdV by Hyatt®, Bunkhouse® Hotels, and Me and All Hotels; the Inclusive Collection, including Zoëtry® Wellness & Spa Resorts, Hyatt Ziva®, Hyatt Zilara®, Secrets® Resorts & Spas, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Sunscape® Resorts & Spas, and Alua Hotels & Resorts®; the Classics Portfolio, including Grand Hyatt®, Hyatt Regency®, Destination by Hyatt®, Hyatt Centric®, Hyatt Vacation Club®, and Hyatt®; and the Essentials Portfolio, including Caption by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith, Unlimited Vacation Club®, Amstar® DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as hurricanes, earthquakes, tsunamis, tornadoes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve specified levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotel services agreements or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and manage the Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

Contacts

Media Contact
Melissa Wright

Hyatt

melissa.wright@hyatt.com

TORONTO–(BUSINESS WIRE)–Primaris Real Estate Investment Trust (“Primaris” or the “Trust”) (TSX: PMZ.UN) announces today its exposure to the Hudson’s Bay Company ULC, the retailer Hudson’s Bay and TheBay.com (“HBC”), in response to HBC’s March 7, 2025, press release stating that it has commenced proceedings under the Companies’ Creditors Arrangement Act.

Primaris has been preparing for this announcement for an extended period of time.

HBC Exposure

As at March 10, 2025, Primaris REIT’s exposure to HBC is as follows:

• 10 HBC locations totaling 1,124,000 square feet of gross leasable area (“GLA”);
• 12th largest tenant by annualized minimum rent;
• Approximately $11.6 million total gross rental revenue, per annum;
• $10.33 weighted average gross rent per occupied square foot;
• Approximately $4.6 million net rental revenue per annum, or 1.4% of total annualized minimum rent;
• $4.14 weighted average net rent per occupied square foot;
• February rent was received for all locations excluding two centres; and
• In addition to the 10 HBC locations in Primaris’ portfolio, there is a shadow-anchor HBC located at Devonshire Mall in Windsor, Ontario which is owned by an unrelated HBC joint venture.

“Primaris REIT has been preparing for this day for a very, very long time, in fact years. We have learned so much over the past 10+ years with the departure of Zellers, Target, Sears, and now potentially HBC,” said Patrick Sullivan, President and Chief Operating Officer. “Although there could be an impact to our financial and operating metrics in the short term, Primaris has detailed plans for all 10 locations, and is ready to take action if and when any locations are disclaimed.”

The below table lists Primaris’ properties with HBC tenancies.

As at March 10, 2025
(in ‘000s square feet, unless otherwise indicated) (unaudited)				Property Ownership at Share		Property GLA at Share		HBC GLA at Share
Cataraqui Town Centre		945 Gardiners Rd, Kingston, ON		50 %		286.2		56.5
Conestoga Mall		550 King St N, Waterloo, ON		100 %		666.1		130.6
Les Galeries de la Capitale		5401 Bd des Galeries, Québec, QC		100 %		987.5		163.3
Medicine Hat Mall		3292 Dunmore Road SE, Medicine Hat, AB		100 %		467.5		93.2
Orchard Park Shopping Centre		2271 Harvey Avenue, Kelowna, BC		100 %		651.1		127.3
Oshawa Centre		419 King St W, Oshawa, ON		100 %		1,215.2		122.6
Place d’Orleans Shopping Centre		110 Place d’Orleans Drive, Orleans, ON		50 %		350.1		57.8
Southgate Centre		5015 111 St NW, Edmonton, AB		50 %		425.4		118.3
St Albert Centre		375 St. Albert Trail, St. Albert, AB		100 %		352.8		93.3
Sunridge Mall		2525 36th Street NE, Calgary, AB		100 %		803.7		161.3
10 locations						6,205.6		1,124.2

The below table illustrates the weighted average net rent and occupied GLA for Commercial Retail Unit (“CRU”) and large format tenants for Primaris’ portfolio at December 31, 2024. HBC’s weighted average net rent per occupied square foot for the 10 locations is $4.14.

As at December 31, 2024 (per occupied square foot unless otherwise indicated) (unaudited)		Weighted Average Net Rent1			Occupied GLA (‘000s of square feet)		GLA Proportions
CRU tenants		$	43.26		5,204		42	%
Large format tenants		$	14.37		7,363		59	%
		$	25.28		12,567		100	%
1 Supplementary financial measure, see Section 1, “Basis of Presentation” – “Use of Operating Metrics” of the December 31, 2024 Management’s Discussion and Analysis.

The Primaris portfolio includes over 2,700 stores, of which there are approximately 35 co-tenancy clauses that name HBC. Co-tenancy clauses are provisions commonly found in commercial real estate leases that stipulate certain conditions under which a tenant’s rent or other obligations may be reduced or modified. These clauses typically come into effect when specific anchor tenants, such as HBC, or a certain percentage of tenants within a shopping centre or retail complex cease operations or vacate their premises. These clauses may not be triggered simply by HBC closing. The purpose of a co-tenancy clauses is to protect tenants from potential loss of business and foot traffic due to the absence of prominent anchor tenants. Over the past number of decades, reference to anchor requirements and named tenants have been removed from tenants’ leases due to the changing enclosed mall merchandise mix and the reliance on anchor tenants for foot traffic.

About Primaris Real Estate Investment Trust

Primaris is Canada’s only enclosed shopping centre focused REIT, with ownership interests primarily in leading enclosed shopping centres located in growing Canadian markets. The portfolio totals 15.0 million square feet, valued at approximately $4.6 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: Primaris’ future results, performance, prospects and opportunities, including with respect to the impact of the closure of any Hudson Bay Company locations in the portfolio, the Trust’s strategy and plans and the Trust’s portfolio quality. 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 Trust’s management’s discussion and analysis for the three months and years ended December 31, 2024 and 2023 (“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. Other than as specifically required by law, Primaris undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.

Non-GAAP Measures

The Trust’s financial statements are prepared in accordance with IFRS accounting standards as issued by the IASB, however, in this news release, 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 news release by the suffix “**” include non-GAAP financial measures and non-GAAP ratios, each as defined in National Instrument 52-112, Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”). 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. Additional information regarding these non-GAAP measures, including definitions, an explanation of management’s reasons as to why it believe the measure is useful to investor can be found in the section entitled :Non-GAAP Measures” in the MD&A. Reconciliations to the most directly comparable GAAP figure, where applicable, can be found in the Trust’s MD&A, which is available on the Trust’s profile on SEDAR+ at www.sedarplus.ca.

Use of Operating Metrics

Primaris uses certain operating metrics to monitor and measure the operational performance of its portfolio. Operating metrics in this news release include, amount others, in-place occupancy, weighted average gross rent per occupied square foot and weighted average net rent per occupied square foot. These operating metrics, which may constitute supplementary financial measures as defined in NI 52-112, are not derived from directly comparable measures contained in the Trust’s financial statements but may be used by management and disclosed on a periodic basis to depict the historical or future expected operating performance of the Trust’ portfolio. Weighted average gross rent per occupied square foot is defined as total annual gross rent divided by occupied GLA.

Primaris also uses certain nonfinancial operating metrics to describe its portfolio and portfolio operation performance. Non-financial operation metrics in this news release include, among others, gross leasable area (“GLA”) and weighted average lease term. For greater certainty, the portfolio operating metrics in this news release include only the Trust’s proportionate ownership of the 8 properties held in co-ownerships.

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 & ESG

647-949-3093

cmahaney@primarisreit.com

Timothy Pire

Chair of the Board

chair@primarisreit.com

FRANKFURT, Germany–(BUSINESS WIRE)–Slate Asset Management (“Slate” or the “Firm”), a global investor and manager focused on essential real estate and infrastructure assets, today announced that it has completed the acquisition of 45 grocery properties located in Germany, which are collectively valued at over €420 million.

Slate acquired the properties in four individual portfolio transactions, which are expected to close in the first quarter of 2025 subject to standard closing conditions. The properties are well-located near major population centers throughout Germany and are fully leased under long-term agreements to some of Germany’s largest grocery and everyday goods distributors, including REWE Group, Schwarz Group, Edeka Group, and ALDI.

“In a muted transaction environment, our European team has successfully executed nearly half a billion euros of essential real estate transactions in the first three months of the year,” said Sven Vollenbruch, Managing Director leading Slate’s European Investments. “We are very pleased to further scale our exposure to this asset class with these portfolios of high-quality, stabilized grocery properties that are underpinned by Germany’s leading food and essential goods distributors. Slate has firmly established itself as a leading owner and operator of essential real estate in Germany, and we believe the strong pipeline of opportunities we have cultivated in this sector will drive our continued growth in Germany and across broader Europe.”

Slate’s European essential real estate strategy is focused on acquiring, owning, and operating cash-yielding, essential real estate assets, such as grocery and affiliated warehouses and logistics assets. The Firm has been an active investor in the European real estate market since 2016. To date, Slate has transacted on over 1,000 commercial properties across 7 countries in the region. Today, Slate operates a portfolio of over 500 essential real estate assets across Europe that are owned by Slate and its capital partners.

Goodwin Procter, KPMG, Gleeds, and REDEFINE Group advised Slate on these transactions.

About Slate Asset Management

Slate Asset Management is a global investor and manager focused on essential real estate and infrastructure assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners across the real assets space. 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, and follow Slate Asset Management on LinkedIn, X (Twitter), and Instagram.

Contacts

Media
Slate Asset Management

Karolina Kmiecik

karolina@slateam.com

KITCHENER, Ontario–(BUSINESS WIRE)–RouteThis, a leader in WiFi customer experience (CX) solutions, today announced that Dave Garcia has joined the company as Chief Revenue Officer (CRO). This executive team expansion comes as RouteThis accelerates its growth and strengthens its commitment to help Service Providers and Smart Home companies deliver exceptional residential WiFi installation, repair and support.

“We are dedicated to solving customer pain through our innovative software platforms, driven by speed and efficiency. We’re building teams with individuals who share these values, which makes Dave an exciting addition to our leadership team,” said Jason Moore, co-founder and CEO, RouteThis. “His expertise in sales strategy, customer success and market expansion makes him an invaluable addition as we continue to drive growth, scale our operations, and elevate customer success.”

Garcia brings more than two decades of experience in the software and enterprise technology industries. As CRO, Garcia will oversee all revenue-generation initiatives and spearhead an innovative, forward-looking Go-To-Market strategy. He will also lead the customer success, professional services, and marketing teams to drive innovation and business growth. Garcia previously served as Senior Vice President of Worldwide Sales and Field Operations for Simpplr, a market-leading AI employee experience platform. He also held sales and GTM leadership roles at AutoGrid Systems, SAP, Softscape, and more.

“It’s an exciting time to join RouteThis as it continues to redefine how Service Providers and Smart Home companies approach WiFi customer experience to drive satisfaction and improve operational efficiency,” said Garcia. “I am eager to collaborate with our teams and customers to scale new opportunities and help them deliver seamless, optimized WiFi experiences for their customers.”

To learn more about RouteThis and its WiFi experience solutions, visit www.routethis.com.

About RouteThis

RouteThis is transforming WiFi customer experience by empowering Service Providers and Smart Home brands to deliver exceptional in-home WiFi installation, repair and support with CPE-agnostic software solutions and remote service platforms. RouteThis has served over 200 companies globally, with key value driven by reducing average handle time, deploying fewer truck rolls and increasing average revenue per user. Headquartered in Ontario, Canada, visit RouteThis.com and follow us on LinkedIn to learn more.

Contacts

Media Contact:

Christy Barbaran

Connect2 Communications for RouteThis

RouteThis@connect2comm.com

Market-leading Canadian event becomes fourth acquisition and fifth event for independent show organizer

ARLINGTON, Va.–(BUSINESS WIRE)–Trifecta Collective LLC, owned and backed by GreyLion, a leading private equity firm focused on high-growth businesses today announced that it has acquired the Canadian Concrete Expo (CCE).

CCE is the leading event in Canada serving the concrete, construction and aggregates industries. The 7^th annual event was recently held February 12-13, 2025, at the International Centre in Toronto and featured over 350 exhibiting companies, over 7,000 attendees and more than 120,000 net square feet of exhibit space. The 2026 event is scheduled for February 11-12, 2026, at the International Centre.

“We’re coming off a tremendously successful 2025 show and are thrilled to share this exciting announcement as we embark on a bold new chapter with Trifecta Collective,” said Stuart Galloway, President of the Canadian Concrete Expo and the event’s primary shareholder. “This partnership marks a significant milestone, and on behalf of CCE, we’re eager to join forces with the exceptional Trifecta team.”

Mr. Galloway will continue in his leadership role. The current CCE team will remain in place ensuring consistent management, customer service and attendee/exhibitor experience.

“CCE is an excellent addition to the Trifecta portfolio, and we are very happy to welcome this leading event,” said Rick McConnell, Chief Executive Officer, Trifecta Collective. “Our vast experience in the tradeshow and construction industries are an excellent fit to continue the positive trajectory of CCE put in place by Stuart and his team.”

More information on CCE can be found at www.canadianconcreteexpo.com.

Trifecta Collective’s acquisition of CCE is the fifth show added to the portfolio building on the team’s March 2022 and December 2022 transactions involving the North American Trailer Dealer Association and the International Mass Timber Conference and Mass Timber Report, as well as the May 2024 acquisition of TRANSACT and the February 2025 launch of the TrailerTech Expo.

Gord Carley of GC Media Brokers was the exclusive broker to Canadian Concrete Expo in arranging, structuring, and negotiating this transaction. Corporate Solutions, led by Nicholas Curci, represented Trifecta in the acquisition of Canadian Concrete Expo.

About the Canadian Concrete Exposition

CCE provides a unique environment to source new suppliers, reconnect with industry contacts, get hands on with the latest equipment, and take advantage of exclusive show offers. Participating attendees can boost their careers by maintaining and developing their knowledge of Canada’s diverse and changing concrete construction industry.

Conference Sessions, Equipment Demos and Stage Presentations provide attendees with the opportunity to experience the latest tech, equipment, and industry advances. The vast exhibition floor is where deals are made, people connect, test the gear, and take advantage of exclusive show offers.

About Trifecta Collective

Trifecta Collective is a trade show platform formed by GreyLion and trade show industry professionals, Rick McConnell and Jennifer Hoff. Mr. McConnell has extensive experience building and leading industry events across multiple industry sectors and has previously held senior leadership roles at Hanley Wood and Informa. Ms. Hoff has an equally impressive track record in show management, having held numerous positions at National Tradeshow Productions and more recently as the Founder of Taffy Event Strategies, which she continues to run today. Since 2021, Trifecta Collective has been building a portfolio of market-leading trade shows and events that are leaders in their respective market segments.

About GreyLion

GreyLion focuses on investing in high-growth businesses in the lower middle market. We seek to partner with existing founders, entrepreneurs, and management teams across two broad sectors: services and specialized industrial & manufacturing. We deliver tailored capital solutions in both control and minority structures. Further, our conservative approach to leverage ensures our companies’ balance sheets can support investment to accelerate growth. GreyLion invests $25-$125 million of capital per investment, primarily within the United States. GreyLion currently manages private equity funds with aggregate commitments of $1.9 billion. For more information, please visit www.greylion.com.

Contacts

Trifecta Collective | Rick McConnell | CEO

rmcconnell@trifectacollectivellc.com | +1 214-693-0672

GreyLion | Jody Shechtman | Partner

jody@greylion.com | +1 646-475-3544

Firm releases inaugural Canadian Sector Outlook report alongside a host of proprietary public and private market valuation data and analytics

TORONTO–(BUSINESS WIRE)–Green Street, the leading provider of trusted commercial real estate intelligence and unbiased insights, has expanded its Canadian market coverage with new private market research and data, plus expanded public market data and analytics. As part of this expansion, Green Street’s inaugural Canadian Outlook report has been released, providing a forward-looking view of supply and demand dynamics, operating fundamentals, valuations, and return expectations across four sectors: Apartment, Industrial, Office and Retail. Green Street is excited to bring the same high quality, independent, and unbiased market intelligence that is available in the U.S. and Europe, to Canadian market participants – all delivered through the advanced interactive mapping platform later this year.

“The inaugural Annual Outlook represents a critical part of Green Street’s Canadian research offering, following 2024’s publication of the Canadian REIT 101 and four initiation reports, discussing 14 large capitalization REITs now under coverage,” said Frederic Blondeau, Managing Director, Head of Canadian Research. “These actionable insights are the result of multiple synergies harnessed across Green Street’s global platform.”

Key takeaways from the Outlook report include:

• Apartment: The Canadian apartment rental market has benefited from the number of renter households growing at more than twice the rate of owner households between ’11 and ’21. The apartment sector has outperformed the other sectors between 2015 and 2024 from an M-RevPAF perspective. Fundamentals should also underperform in 2025 notably due to supply and affordability issues. That said, performance will likely be more in line with the other sectors starting in 2026.
• Industrial: Distribution centres/warehouses dominate the Canadian industrial pool. Although industrial rent growth and values have been exceptional since ’20 for most markets, ’24 industrial operating fundamentals experienced a notable deceleration, especially in Toronto and for large-bay products. M-RevPAF should be flat in 2025 and start picking up again in 2027.
• Office: The office sector’s unremarkable status quo is expected to persist in ’25. Office fundamentals have been poor for the past decade and improvements are not forthcoming. Tepid tenant demand and sluggish leasing activity should keep vacancy elevated and net asking rent flat. Green Street expects Canadian office fundamentals to lag other sectors over the next five years.
• Retail: The retail sector has been remarkably steady over the last two decades. Strong tenant demand and low supply are partially offset by a shallow tenant pool and tepid spending growth. Nevertheless, rent growth should mirror the rate of inflation. The retail sector leads Green Street’s M-RevPAF growth outlook to ’29 and the NOI growth only lags the industrial sector over the same period.

Green Street’s new private market solution in Canada covers the four sectors included in the Outlook, across 10 key markets: Calgary, Edmonton, Halifax, Hamilton, Montreal, Ottawa-Gatineau, Toronto, Quebec City, Vancouver and Winnipeg. The data covers key metrics, including proprietary market grades, fundamentals and valuation, macro and demographic data, baseline 5-year forecasts and histories dating back to 2015, and verified Sales Comps $5M+(CAD), with integration into customer’s daily workflows made easy through Green Street’s data delivery services.

Green Street’s expanded public market solution across Apartment, Industrial, Retail, and Senior Housing sectors, now includes easy cross-comparison of the 14 Canadian REITs under coverage via the Company Analysis tool and Detailed NAV models. Expanded coverage will soon include the Office sector with new REITs under coverage.

Green Street is recognized globally for its independent public and private CRE market expertise. The team is excited to deliver tools to help market participants uncover new investment opportunities and make more informed strategic and portfolio decisions within the Canadian CRE market.

To request a sample Sector Outlook report from Green Street please click here.

Learn more about Green Street’s Canadian offerings here.

About Green Street

Green Street is the leading provider of actionable commercial real estate research, news, data, analytics, and advisory services in the U.S., Canada, and Europe. For 40 years, Green Street has delivered unparalleled intelligence and trusted data on the public and private real estate markets, helping investors, banks, lenders, and other industry participants optimize investment and strategic decisions. The firm delivers exclusive market information, conclusion-driven insights, and predictive analytics through a SaaS platform. To learn more, please visit www.greenstreet.com.

Contacts

Media Contact info:
Green Street

media@greenstreet.com