Company purchases 27 acres in Richmond with plan to contribute almost a quarter of land to civic use

VANCOUVER, British Columbia–(BUSINESS WIRE)–Keltic Canada Development (Keltic) is proud to announce today that it has secured one of Metro Vancouver’s largest land deals this year, acquiring a large plot of land in Richmond, British Columbia for over $300 million. The property, which is a total of 27 acres in size, is located at No 2. Road and River Road. The deal closed on December 7th and saw the transfer of ownership to Keltic Canada Development. The transaction was coordinated and brokered by Goran Bucan Prec from Sutton Group (WCR-Broadway).

As could be expected given the vast size of the land, Keltic’s development plans are significant in scale. Currently, the property is occupied by light industrial / commercial tenants. The company plans to create a vibrant multi-use destination including residential, commercial and industrial spaces that will add richness and vitality to the city. Twenty-three per cent of the land, or 6.4 acres, will be developed into green space and contributed back to the city for community use. Extensive public consultation will be utilized to ensure the property is developed respecting the authentic part of Richmond’s community but also create something new and exciting. Located next to Richmond Olympic Oval, the development is positioned to add to an already thriving area of civic activity.

“The acquisition of this piece of land presents us with an opportunity to work with the City of Richmond and the public to design and develop their dream, and to create something that will have a positive and lasting impact on this community for generations to come,” shared Rachel Li Lei, Managing Director, CEO Keltic Canada Development. “We are committed to enhancing the quality of work and life for Canadians by developing sustainable, modern, and productive communities, and this development will be thoroughly representative of that mission.”

Keltic is a 100% Canadian-owned, diversified real estate development company headquartered in Vancouver. With established experience in building Lower Mainland’s residential, industrial, and mixed-use developments, this purchase adds to its long-term strategic growth plan for Greater Vancouver. The acquisition allows Keltic to forward its established dedication to building a superior and healthy standard of living that suits the everyday lifestyles of those who live in its built communities. In addition to this development, Keltic’s current projects at varying stages of development include Coco Oakridge, Nexus, The Paramount, Park West and upcoming O2 project in Metrotown.

For more information on Keltic, visit www.kelticdevelopment.com.

About Keltic Canada Development

Keltic is a Canadian-owned, diversified real estate development company, headquartered in Vancouver B.C. Their numerous projects include residential, industrial, and mixed-use developments for sale, under construction, or upcoming. Keltic is supported by its solid financial strength and world-class management team, with a clear focus on long-term strategic growth in Greater Vancouver, B.C.

Contacts

Media
Max Jakubke

PUBLiSH Partners

778-772-7336

max@publishpartners.co

Great Place to Work® acknowledges Bridgit as a company that creates a truly exceptional employee experience.

TORONTO–(BUSINESS WIRE)–Bridgit, a Toronto/Waterloo-based workforce intelligence technology company that’s focused on the construction industry, is proud to announce its inclusion in the Great Place to Work® 2021 list of Best Workplaces Managed by Women, which has been compiled based on the feedback from the employees of hundreds of organizations.

Bridgit’s inclusion on the list comes as little surprise to those in the industry, as Bridgit’s founders Mallorie Brodie and Lauren Lake have worked hard to foster a close-knit, inclusive, and people-first working environment. The outcome of this is clear: In the past year, Bridgit has more than doubled its employee count, seen 140% increase in revenue, closed their $24M series B round, launched 36 new features and 16 integrations, and formed partnerships with ConTech giants Procore and Autodesk—which is made all the more impressive by the fact that they’ve done it in two male-dominated industries.

Bridgit is hiring for at least fifteen new roles across all departments, with additional jobs being posted weekly. A Great Place to Work- Certified™ company, Bridgit offers competitive compensation and equity, a remote-first work environment, unlimited PTO, four-hour Fridays, and free health insurance for employees and their families.

“We strive to create an environment that helps our people thrive, which means great benefits, pay and an unwavering commitment to diversity, equity and inclusion,” said Lauren Lake, Co-founder and COO at Bridgit. “We want our team members to feel like they can bring their best selves to work; so we’re constantly striving to find every way to make that possible. We consider a great working experience to be one of our key competitive advantages.”

Bridgit’s flagship product, Bridgit Bench, is the only workforce management platform designed specifically for general contractors, allowing them to put the right people on the right jobs, and at the right time—eliminating cost overruns caused by improper workforce planning. Bridgit Bench also intelligently forecasts hiring needs, allowing GCs to confidently identify and bid on jobs where they’ll be most successful.

To explore career opportunities at Bridgit, please see the careers page. If you are a general contractor interested in how Bridgit Bench can help you take a people-first approach to workforce planning, please sign up to talk to a workforce intelligence expert.

About Bridgit

Bridgit is workforce intelligence for the construction industry. Bridgit’s mission is simple — to help the construction industry maximize profits by taking a people-first approach. Workforce Intelligence from Bridgit transforms workforce data into actionable insights that inform an organization’s strategic and tactical business decisions. Bridgit is a privately held company, having raised over $43.5 million CAD in equity financing, with capital from investors such as Autodesk, BDC Capital’s Women in Technology Venture Fund, Camber Creek, Export Development Canada, IAF, Nine Four Ventures, Salesforce Ventures, Sands Capital, StandUp Ventures, Storm Ventures, and Vanedge Capital. Learn more about Bridgit at gobridgit.com.

Contacts

Media:
Jesse Kent

Derring-Do Inc.

jesse@derringdo.com
909.781.3892

With Procore Action Plans, family-run real estate developer ensures it’s consistently meeting quality standards on projects across Canada

TORONTO–(BUSINESS WIRE)–Procore Technologies, Inc. (NYSE: PCOR), a leading provider of construction management software, today announced that customer Cape Group is expanding its years-long relationship with Procore. Cape Group is standardizing its processes nationwide with Procore’s Quality and Safety tool, Action Plans, which enables the company to digitize its inspection and test plans (ITP) and improve quality assurance.

Vancouver-based Cape Group is a family-run real estate and development company founded in 1956 that prides itself on keeping the needs of the communities it works in top-of-mind. From rental units to warehouses, high-rises to master planned communities, mixed-use buildings to market housing and more, Cape Group has extensive experience with myriad types of projects.

The company chose Procore as its construction management solution for its comprehensiveness and proven track record. Today, Cape Group uses Procore to track all its projects, including real-time budgeting and cost control. The company uses Procore Analytics to turn project data into intelligence, including tracking and analyzing how long it takes for Requests For Information to receive a response.

“Cape Group is delivering projects around 10 per cent faster by using Procore, and we’re generating 10 times more revenue. We appreciate that Procore delivers continuous innovation in its platform,” said Zack Ross, Chief Operating Officer, Cape Group. “Procore has evolved the way we work at Cape Group. Standardizing tasks with Action Plans is the next step. We know from experience that Procore lets us deliver more value to our customers, which helps our business grow.”

Cape Group is now implementing Procore’s Action Plans in an effort to standardize its processes. Action Plans helps companies show clients and regulators that a job met quality standards and each stage was approved by a relevant party. Action Plans allows Cape Group to create templates for sequential work such as quality assurance, concrete pours and safety plans. Company-assigned approvers control when a plan can advance to the next step, allowing Cape Group to manage projects the same way on every job, whether the work is being done by local teams in Vancouver, Winnipeg, Ottawa or Toronto. Everything is tracked on the Procore platform, including proof of completion such as photos.

“The Procore platform is purpose-built for construction. A long-standing partner such as Cape Group incorporating Action Plans into its project management demonstrates that contractors can grow their business with Procore,” said Jas Saraw, Vice President, Canada at Procore.

Learn more about how Cape Group won a $60M project because of Procore: https://www.procore.com/en-ca/casestudies/cape-group

About The Cape Group

Cape Group is a three-generation, family run, vertically integrated real estate and development company, operating since 1956. With more than 60 years of experience, we are known within the industry as a group you can count on. We develop high-quality projects that complement the vibrancy of neighbourhoods, whether it is working with landowners, institutions, or home buyers, we listen and deliver. From high-rises to warehouses, office buildings to master planned communities, our dedication to building quality and building relationships is at the forefront of everything we do.

About Procore

Procore is a leading 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

This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION THROUGH U.S. NEWS OR WIRE SERVICES

TORONTO–(BUSINESS WIRE)–Dream Industrial REIT (TSX: DIR.UN) (the “Trust” or “Dream Industrial REIT”) announced today the closing of its previously announced private placement of senior unsecured debentures (the “Offering”) consisting of C$250 million aggregate principal amount of 2.539% Senior Unsecured Debentures, Series D maturing on December 7, 2026 (the “Series D Debentures”). Concurrent with the closing of the Offering, the Trust entered into cross currency interest rate swap arrangements to swap the proceeds of the Offering to Euros to lower the effective interest rate to 0.541%.

The Series D Debentures are expected to be rated BBB with a Stable Trend by DBRS Limited.

An amount equal to the net proceeds from the Offering is expected to be utilized to finance and/or refinance eligible green projects within the meaning of the Trust’s Green Financing Framework (the “Framework”) established in June 2021. Prior to allocation of the net proceeds of this Offering to eligible green projects, the net proceeds may be initially used to fund future acquisitions and development costs, repay existing indebtedness, and for general trust purposes. The Offering is the Trust’s second “green bond” offering, following the C$400 million Series C Debentures issued in June 2021.

The Series D Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Series D Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Series D Debentures will not be listed on any stock exchange and there will be no market for such securities. The Series D Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities law and may not be offered or sold in the United States and may not be offered or sold to other persons who are not residents of a province of Canada.

About Dream Industrial Real Estate Investment Trust

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2021, Dream Industrial REIT owns, manages and operates a portfolio of 221 industrial assets (326 buildings) comprising approximately 39.8 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s objective is to continue to grow and upgrade the quality of its portfolio which primarily consists of distribution and urban logistics properties and to provide attractive overall returns to its unitholders. For more information, please visit www.dreamindustrialreit.ca.

Forward Looking Information

This news release may contain 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. Some of the specific forward-looking information in this news release may include, among other things, the expected rating and trend of the Series D Debentures; and the expected use of proceeds from the Offering. 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 Dream Industrial 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; uncertainties surrounding the COVID-19 pandemic; the financial condition of tenants; our ability to finance or refinance eligible green projects; interest and currency rate fluctuations; competition; and the risk that there may be unforeseen events that cause the Trust’s actual capital structure, overall cost of debt and results of operations to differ from what the Trust currently anticipates. Our objectives and forward-looking statements are based on certain assumptions with respect to each of our markets, including that the general economy remains stable, the gradual recovery and growth of the general economy continues over the remainder of 2021 and in 2022, interest rates remain stable, conditions within the real estate market remain consistent, competition for and availability of acquisitions remains consistent with the current climate, the capital markets continue to provide ready access to equity and/or debt, the timing and ability to sell certain properties remains in line with the Trust’s expectations, valuations to be realized on property sales will be in line with current IFRS values, occupancy levels remain stable, and the replacement of expiring tenancies will remain consistent. All forward-looking information in this news release speaks as of the date of this news release. Dream Industrial 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 Dream Industrial REIT’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at Dream Industrial REIT’s website at www.dreamindustrialreit.ca.

Contacts

DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST

Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Lenis Quan
Chief Financial Officer

(416) 365-2353

lquan@dream.ca

Alexander Sannikov
Chief Operating Officer

(416) 365-4106

asannikov@dream.ca