Not for distribution to U.S. news wire services or dissemination in the United States

TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) today reported the closing of the previously announced sale of the Jeuneurs asset for gross proceeds of $104.5 million (€71.2) million.

Mr. Stéphane Amine, President of the REIT, announced today, “We have closed the sale of Jeuneurs in Paris, France, which the REIT has held since its initial public offering in 2013. Jeuneurs is a seven story 50,400 square foot, fully occupied office building located in the central business district of Paris, originally constructed in 1890 and whose single tenant lease is maturing on August 31, 2023. The $104.5 million (€71.2) million gross sale price represents a $64.9 million (€44.2) million increase over the acquisition price (excluding acquisition costs) and a $35.5 million (€24.2) million premium to fair market value at December 31, 2020. We are very pleased to crystallize the exceptional value gain, confirming once again the REIT’s strategy to partially capitalize on the sale of existing older assets in order to renew the portfolio with more modern and accretive assets. The REIT is currently considering different acquisition opportunities, including but not limited to the remaining joint ventures, with the objective of deploying all the available capital in the near future.”

Inovalis REIT provides access to investors to unique quality real estate in strategic locations. In November 2021 the recently appointed Board of Trustees and management toured the Paris and Madrid main office markets in advance of finalizing the implementation of the REIT’s capital redeployment plan. In that regard, the Board of Trustees has decided to postpone the decision to distribute 50% of all incremental profit to unitholders until mid-2022. By such time, the Board would have assessed all the available investment opportunities and will have a clear idea on the necessary capital required for such investment.

Forward-Looking information

This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Inovalis REIT’s control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, global and local economic and business conditions; the financial condition of tenants; our ability to refinance maturing debt; leasing risks, including those associated with the ability to lease vacant space; interest and currency rate functions and the completion of our asset recycling plan. The REIT’s objectives and forward-looking statements are based on certain assumptions, including that the Canadian and European economies remain stable, interest rates remain stable, conditions within the real estate market remain consistent, competition for acquisitions remains consistent with the current climate and that the capital markets continue to provide ready access to equity and/or debt. All forward-looking information in this news release speaks as of the date of this news release. Inovalis REIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in the REIT’s filings with securities regulators, including its latest annual information form and MD&A.

The forward-looking information contained herein represents the REIT’s expectations as of the date hereof and is subject to change after such date. The REIT assumes no obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

All amounts have been converted to Canadian dollars (CAD$) using an exchange rate of 1.4682 CAD$ per €.

ABOUT INOVALIS REAL ESTATE INVESTMENT TRUST

Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning office properties primarily located in France and Germany but also opportunistically in other European countries where assets meet the REIT’s investment criteria.

Contacts

David Giraud, Chief Executive Officer
Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3323

david.giraud@inovalis.com

Khalil Hankach, Chief Financial Officer
Inovalis Real Estate Investment Trust

Tel:+33 1 5643 3313

khalil.hankach@inovalis.com

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Walton Global, a real estate investment and land asset management company with US$3.4 billion under management is pleased to announce a total of CAD $63.7 million in distributions that will be made to investors within various corporations: WIGI Restructured Bond Corporation (WIGI RBC), McConachie Management Corporation and Roll-up Corporation (RUC). The distributions are scheduled throughout the month of December 2021.

Roll-Up Corporation (RUC)

A distribution of approximately CAD $55 million was approved on November 15, 2021, by the Walton-managed Roll-Up Corporation (RUC). The distribution was paid to shareholders of RUC on December 1, 2021. This is the third distribution made to investors in RUC, with this distribution representing $0.082 per share. RUC investors have received a total of CAD $104 million in distributions since the formation of the entity in 2018.

RUC was formed through the amalgamation of 134 Canadian pre-development land entities and has more than 28,141 shareholders. The Corporation collectively owns an interest in 15,622 acres of pre-development land in key growth markets throughout the United States and Canada.

McConachie Asset Management Corporation

A distribution to investors on behalf of McConachie Asset Management Corporation of CAD $2.5 million is scheduled to be made on December 10, 2021.

CAD $2.5 Million is the third distribution made to bondholders in 2021. The distribution is both a principal and interest payment that will be paid to all bondholders on a pro-rata basis. A total of CAD $64.9 million of principal and interest payments have been made to investors in the McConachie project to date.

McConachie is a residential development project in Edmonton, Alberta where Walton is the project manager. Walton has been working on completing the project this year with some carry over for items to be completed by early 2022.

WIGI Restructured Bond Corporation (WIGI RBC)

WIGI RBC is making a cash distribution of CAD $6.2 million scheduled for December 31, 2021. This represents the second distribution being made from this entity in 2021 as a repayment of the bonds. A total of approximately CAD $18.9 million has been distributed to investors in WIGI RBC to date.

WIGI Restructured Bond Corporation owns Canadian assets, including pre-development land projects and active land development projects in Alberta and Ontario.

Walton anticipates it will create further monetization opportunities in 2022 that will provide additional distributions for investors within these corporations.

Contacts

Megan Wahl

LAVIDGE

480-998-2600

DL-Walton@lavidge.com

TORONTO–(BUSINESS WIRE)–Peak Power, a Canadian company building AI-powered solutions for the clean energy future throughout North America, announces a partnership with Mohawk College to ensure safe indoor air quality in schools. Peak Power installed its Peak Insight Indoor Air Quality (IAQ) platform adjacent to Nerva Energy’s REME HALO (RH) air purifiers in three Grand Erie District School Board (GEDSB) elementary schools. Peak’s platform is validating the efficacy of the air purifiers by monitoring indoor air quality.

The Peak Insight IAQ platform consists of both indoor air quality-measuring sensors and Peak Power’s secure, scalable, and intelligent building optimization software. The Peak Insight sensor arrays monitor for key IAQ metrics such as carbon dioxide, volatile organic compounds (TVOC), particulate matter, humidity, temperature, and ozone. The platform also considers factors that may increase viral transmission and will notify users when building occupants are at risk, an especially important element as students return to schools throughout 2021 and 2022.

Peak Power established a baseline of indoor air quality in the GEDSB schools by installing its sensor arrays in five classrooms per school prior to the installation of the REME air purifiers. The system is continuing to provide interval data that is refreshed every five minutes on Peak Power’s Peak Insight platform for mobile or desktop. The platform displays detailed measurements across one or multiple zones of a building. Reporting and visualisation via an easy-to-read dashboard identifies localised areas of concern and provides real-time insights and alerts allowing for targeted remediation. It provides insight at the classroom, individual school, and district level.

After several months of monitoring during the 2021-2022 school year, the Peak Insight IAQ platform showed that the air purifiers installed improved the indoor quality by as much as 22% post installation. The IAQ score, which is based on air quality standards from the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) and measures contaminants such as CO₂ and PM 2.5, went from 65% to 87% as validated by Peak Power.

“The well-being of students, teachers, and staff is of utmost importance, and we want to ensure the healthiest learning conditions for our partners in the Grand Erie District School Board,” said Tony Cupido, Research Chair of Sustainable Building Technologies IDEAWORKS at Mohawk College. “Peak Power’s Peak Insight IAQ platform is a great way for us to track indoor air quality in classrooms, which are currently being purified thanks to the REME HALO technology. We are helping to set the safety standards for schools everywhere.”

Peak Power provides energy efficiency insights and actionable alerts for commercial real estate buildings through its Peak Insight platform. In response to the growing demand for air quality monitoring amid the COVID-19 pandemic, Peak Power expanded its platform to include the Indoor Air Quality module and offer it as a standalone product.The flexible solution addresses the needs of organizations such as school boards focused on the indoor air quality of their buildings and the safety of occupants.

“Schools are an excellent application for our Peak Insight IAQ module,” said Cristina Barlow, Director of Partnerships at Peak Power. “Schools should offer an environment that fully supports the well-being of students, teachers, and staff. Thanks to Mohawk College, GEDSB schools will benefit from clean air this school year. We’re happy to partner with Mohawk College to provide the tools to continuously monitor the air quality of the classrooms with RH purifiers.”

The Peak Power Peak Insight IAQ project with GEDSB will run for 12 months. Following the conclusion of the pilot, Peak Power and GEDSB will consider opportunities to extend the program.

About Peak Power

Peak Power is a Canadian Clean Technology company building AI-powered solutions that make building owners and operators part of the clean energy transition. Working with real estate, energy, and transportation partners, Peak Power transforms buildings and industrial facilities from static energy consumers into dynamic, two-way grid resources that generate revenue. Climate contributors become climate solution providers – and get paid to do so. The company’s technology optimizes commercial buildings through the intelligent management of energy use, energy storage, and EV-grid integration. Peak Power’s solutions are deployed in over 15 million square feet of commercial real estate, controlling 90+ MWh of battery and electric vehicle capacity in Ontario, New York, and California. Peak Power’s clean energy solutions help facility owners and operators prepare for a future that is environmentally and economically sustainable.

About IDEAWORKS Mohawk College

IDEAWORKS, is Mohawk College’s active hub of applied research and innovation. We work side-by-side with startups, established companies and community organizations to address their challenges firsthand, often accessing government grants and leveraging industry sponsored projects to make applied research opportunities possible. We enhance teams with specialized expertise from Mohawk faculty, staff and students, provide access to specialized, industry leading equipment and one-of-a-kind comprehensive facilities and help to de-risk new technology adoption through testing and trials.

About the Grand Erie District School Board

Grand Erie District School Board represents nearly 18,000 students in 58 elementary schools and more than 7,500 students in 14 secondary schools within the city of Brantford and the counties of Brant, Haldimand, and Norfolk as well as students from Six Nations of the Grand River and Mississaugas of the Credit First Nation.

Contacts

Media:
Gene Hunt

Trevi Communications, Inc.

Gene@trevicomm.com
978-750-0333 x101