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 an additional issuance of C$200 million aggregate principal amount of 5.383% Senior Unsecured Debentures, Series F maturing on March 22, 2028 (the “Series F Debentures”).

The Series F Debentures are rated BBB with a Stable Trend by DBRS Limited. The Trust intends to use the net proceeds from the Offering to repay existing indebtedness and for general trust purposes.

The Series F Debentures have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer or sale of the Series F Debentures in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Series F Debentures will not be listed on any stock exchange and there will be no market for such securities. The Series F Debentures have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws 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, 2023, Dream Industrial REIT owns, manages and operates a portfolio of 322 industrial assets totaling approximately 70.6 million square feet of gross leasable area in key markets across Canada, Europe, and the U.S. Dream Industrial REIT’s goal is to deliver strong total returns to its unitholders through secure cash flows underpinned by its high-quality portfolio and an investment grade balance sheet as well as driving growth in its net asset value and cash flow per unit. For more information, please visit www.dreamindustrialreit.ca.

Forward Looking Information

This press 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 press release may include, among other things, statements regarding the intended use of net proceeds of 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 the Trust’s control, which 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, general and local economic and business conditions; employment levels; mortgage and interest rates; regulations; uncertainties around the timing and amount of future financings; geopolitical events, including disputes between nations, war and international sanctions; the financial condition of tenants; leasing risks, including those associated with the ability to lease vacant space; rental rates and the strength of rental rate growth on future leasing; and interest and currency rate fluctuations. The Trust’s objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable, interest rates remain stable, conditions within the real estate market remain consistent, rising replacement costs in the Trust’s operating markets remain steady, competition for acquisitions remains consistent with the current climate and that the capital markets continue to provide access to equity and/or debt. All forward-looking information in this press release speaks as of the date of this press release. The Trust 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 Trust’s filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamindustrialreit.ca.

Contacts

Dream Industrial REIT

Alexander Sannikov
President and Chief Executive Officer

(416) 365-4106

asannikov@dream.ca

Lenis Quan
Chief Financial Officer

(416) 365-2353

lquan@dream.ca

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.

TORONTO–(BUSINESS WIRE)–DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX: DRR.U and TSX: DRR.UN) announced today that the Toronto Stock Exchange (“TSX”) accepted a noticed filed by Dream Residential REIT (the “Trust”) to renew its prior normal course issuer bid for a one year period. Under the bid, the Trust will have the ability to purchase for cancellation up to a maximum of 1,174,446 of its Trust Units (the “Units”) (representing 10% of the Trust’s public float of 11,744,467 Units as of December 29, 2023) through the facilities of the TSX. The bid will commence on January 8, 2024 and will remain in effect until the earlier of January 7, 2025 or the date on which the Trust has purchased the maximum number of Units permitted under the bid. Daily repurchases will be limited to 2,258 Units, representing 25% of the average daily trading volume of the Units on the TSX during the last six calendar months (being 9,035 Units per day), other than purchases pursuant to applicable block purchase exceptions. As of December 29, 2023, the number of issued and outstanding Units was 12,645,268.

In connection with the renewal of its normal course issuer bid, the Trust has established an automatic securities purchase plan (the “Plan”) with its designated broker to facilitate the purchase of Units under the normal course issuer bid at times when the Trust would ordinarily not be permitted to purchase its Units due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by the Trust’s broker based upon the parameters prescribed by the TSX and the terms of the parties’ written agreement. Outside of such restricted or blackout periods, the Units may also be purchased in accordance with Management’s discretion. The Plan has been pre-cleared by the TSX and will terminate on January 7, 2025.

The Trust has renewed its normal course issuer bid because it believes that Units may become available during the period of the bid at prices that would make the purchase of such Units for cancellation in the best interests of the Trust and its unitholders.

The Trust sought and received approval from the TSX on January 4, 2023 to purchase up to 973,418 Units for the period from January 6, 2023 to January 5, 2024. Under this bid the Trust purchased for cancellation 150,758 Units through the facilities of the TSX at a weighted average price per Unit of US$8.12 for a total cost of approximately US$1.2 million. Please note that the amount of Units repurchased under the bid was in line with both management and board strategy with respect to use of capital for Unit repurchases. Furthermore, the amount of Units that can be repurchased in the market under the TSX rules on a daily basis are subject to various trading restrictions which impact the amount that can be repurchased on a daily basis.

Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. Dream Residential REIT owns a portfolio of garden-style multi-residential properties, primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit our website at www.dreamresidentialreit.ca.

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation, including with respect to future purchases of Units by the Trust. 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 the Trust’s control, which 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, risks inherent in the real estate industry; financing risks; inflation, interest and currency rate fluctuations; global and local economic and business conditions; risks associated with unexpected or ongoing geopolitical events; changes in law; tax risks; competition; environmental and climate change risks; insurance risks; cybersecurity; and uncertainties surrounding the COVID-19 pandemic and other public health crises and epidemics. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable; there are no unforeseen changes in the legislative and operating framework for our business; we will have access to adequate capital to fund our future projects and plans and that we will receive financing on acceptable terms; inflation and interest rates will not materially increase beyond current market expectations; and geopolitical events will not disrupt global economies. All forward-looking information in this press release speaks as of January 4, 2024. The Trust 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 disclosed in filings with securities regulators filed on SEDAR+ (www.sedarplus.ca). These filings are also available at the Trust’s website at www.dreamresidentialreit.ca.

Contacts

Dream Residential REIT

Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Derrick Lau
Chief Financial Officer

(416) 365-2364

dlau@dream.ca

Scott Schoeman
Chief Operating Officer

(303) 519-3020

sschoeman@dream.ca

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self-storage company, today announced that H. Michael Schwartz, the Company’s Chairman and CEO, will moderate the Capital Markets Panel at the NYSSA Investment Forum. The panel will take place on Tuesday, January 9, 2024, in New York City at approximately 11:00 a.m. Eastern Standard Time for registered conference attendees.

About SmartStop Self Storage REIT, Inc. (SmartStop)

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 500 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of January 4, 2024, SmartStop has an owned or managed portfolio of 194 operating properties in 22 states and Canada, comprising approximately 137,000 units and 15.4 million rentable square feet. SmartStop and its affiliates own or manage 33 operating self-storage properties in Canada, which total approximately 28,800 units and 3.0 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

IR@smartstop.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, 2023 after the market closes on Tuesday, February 13, 2024.

Interested parties are invited to participate in a conference call with management on Wednesday, February 14, 2024 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: 218112.

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: 539726.

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at September 30, 2023, our portfolio is comprised of 192 properties with an aggregate net leasable area of approximately 33.6 million square feet (at RioCan’s interest) including office, residential rental and 10 development properties. To learn more about us, please visit www.riocan.com.

Contacts

RioCan
Kim Lee

Vice President, Investor Relations

(416) 646-8326

NORTH ANDOVER, Mass.–(BUSINESS WIRE)–Watts Water Technologies, Inc., (NYSE: WTS) (“Watts”) – through its subsidiaries, one of the world’s leading manufacturers and providers of plumbing, heating and water quality products and solutions – today announced that it has completed the previously announced acquisition of Josam Company (“Josam”), a leading provider and manufacturer of drainage and plumbing products for over 100 years. The company offers a comprehensive portfolio of high-quality customized products to a diverse customer base serving commercial, industrial, and multi-family end markets. Josam’s annualized sales are approximately $35 million. The acquisition was funded with cash on hand.

Chief Executive Officer Robert J. Pagano Jr. commented, “We are excited to welcome the Josam team to Watts. The closing of this transaction will give our customers access to Josam’s innovative solutions and will drive growth with increased cross selling opportunities. I want to thank the teams at Watts and Josam for their efforts to get us to closing today and helping to ensure a smooth, effective transition as we integrate Josam with Watts.”

Additional information regarding the transaction will be discussed during the Watts fourth quarter earnings call in February 2024.

About Watts Water Technologies, Inc.

Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating, and water quality product lines in the world. Watts Water companies and brands offer innovative plumbing, heating, and water quality solutions to control the efficiency, safety, and quality of water within commercial, residential, and industrial applications. For more information, visit www.watts.com.

Forward-Looking Statements

In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, Watts provides the following cautionary statement: This news release contains various forward-looking statements based on current expectations about important economic, political, and technological factors, among others, and are subject to risks and uncertainties, which could cause the actual results or events to differ materially from those set forth in or implied by the forward-looking statements and related assumptions. These include statements regarding estimates of future earnings and cash flows. Other uncertainties include, but are not limited to, general economic conditions, supply chain conditions and any related impact on costs and availability of materials, integration of the acquired business in a timely and cost-effective manner, retention of supplier and customer relationships and key employees, and the ability to achieve synergies and cost savings in the amounts and within the time frames currently anticipated. Other risks and uncertainties that may materially affect Watts are described from time to time in its reports filed with the Securities and Exchange Commission, including Forms 10-K, 10-Q, and 8-K. Except to the extent required by law, Watts does not undertake and specifically declines any obligation to review or update any forward looking statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments or otherwise.

Contacts

Watts Water Technologies, Inc.

Diane McClintock

Senior Vice President FP&A and Investor Relations

Telephone: 978-689-6153

investorrelations@wattswater.com

TORONTO–(BUSINESS WIRE)–Slate Office REIT (TSX: SOT.UN) (the “REIT”) announced today that the board of trustees of the REIT has decided to postpone the special meeting of unitholders that was originally scheduled to be held on December 29, to January 15, 2024 at 10:00 a.m. (Eastern). As a result of the later meeting date, unitholders who wish to vote their units in advance of the meeting date, now have until 10:00 a.m. (Eastern) on January 12, 2024.

The special resolution put forward for approval by the unitholders permits the trustees of the REIT to amend the declaration of trust to give effect to an amendment to remove the restriction in the declaration of trust, which currently provides that the REIT’s indebtedness cannot exceed 65% of gross book value (i.e. total assets less restricted cash) (the “Restriction”), as such amendment may be varied by the trustees of the REIT in their discretion. This proposed change to the declaration of trust is intended to provide greater flexibility to the REIT, while management pursues its previously disclosed portfolio realignment plan.

To be approved, the special resolution requires at least two-thirds of the votes cast by unitholders at, or prior to the special meeting, to vote in favour of the proposed amendment. In order to provide unitholders with more time to consider the proposed amendment, the board of trustees of the REIT has decided to postpone the special meeting to January 15, 2024 at 10:00 a.m. (Eastern).

Management of the REIT strongly believes that approval of the proposed amendment is in the best interests of the REIT. In addition, ISS has issued a report recommending that unitholders vote in favour of the proposed amendment.

Unitholders who have not yet supported the proposed resolution are urged to do so.

For the avoidance of doubt, the record date for the determination of unitholders who are entitled to receive the notice of, and to attend and vote at, the special meeting (including any postponement thereof), will remain unchanged as November 17, 2023.

Details about the special meeting, including instructions on how a unitholder can vote its units, are set out in the information circular and other meeting materials, which were previously sent to unitholders. The form of proxy and voting instruction form for use at the postponed meeting remain valid and applicable for use at the postponed meeting. As a result of the later meeting date, unitholders who wish to vote their units in advance of the meeting date (including making changes to any previously submitted voting instructions), now have until 10:00 a.m. (Eastern) on January 12, 2024.

Why the Proposed Amendment Is Important

The declaration of trust currently includes the Restriction.

Under the declaration of trust, the measurement of any indebtedness against the REIT’s gross book value is completed only at the time of the incurrence or assumption of the indebtedness in question (which would exclude the refinancing of existing debt that is outstanding) and is not a determination that is continually assessed over time against the REIT’s gross book value. In addition, the REIT has initiated a plan to dispose of certain properties to raise capital in order to increase liquidity and reduce the REIT’s outstanding borrowings. However, primarily due, in part, to a decrease in investment property valuations, the REIT’s indebtedness ratio at September 30, 2023 increased to 65.6%. Notwithstanding the foregoing, the REIT remains in compliance with the Restriction as there has not been an incurrence of new indebtedness during this period.

Management’s short-term target is to reduce the REIT’s total indebtedness to below 65% of its gross book value by executing on the portfolio realignment plan to decrease leverage and generate equity to pay down the REIT’s revolving credit and operating facilities. The success of this strategy is dependent upon debt market conditions for borrowing, as well as the characteristics of the underlying assets being financed. If this strategy is unsuccessful, debt principal repayments may need to be funded by operating cash flows, additional draws under the REIT’s revolving credit and operating facilities, or by issuances of equity or debt securities, and if such funding is not sufficiently available and the REIT’s gross book value declines further, total indebtedness may increase further beyond 65% of the REIT’s gross book value.

The amendment is intended to provide greater flexibility to the REIT, which (among other things) regularly refinances its existing indebtedness as part of its ordinary course of business, and while management pursues the portfolio realignment plan to decrease leverage. This need for this flexibility has become increasingly important, and management expects that trend to continue. For example, the REIT has recently been presented with accretive leasing opportunities that management and the board of trustees believe could be executed on in the near term, but which the REIT may not be able to pursue without the flexibility to incur additional indebtedness in connection with tenant inducement obligations.

About Slate Office REIT (TSX: SOT.UN)

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

About Slate Asset Management

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

Forward-Looking Statements

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

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

SOT-SA

Contacts

For Further Information


Investor Relations

+1 416 644 4264

ir@slateam.com

TORONTO & NEW YORK–(BUSINESS WIRE)–The Real Brokerage Inc. (Nasdaq: REAX) today announced that it has been named as a defendant in a putative class action lawsuit, which was filed in the United States District Court for the Western District of Missouri.

The lawsuit, under the caption Umpa v. The National Association of Realtors, et al. (the “Class Action”), alleges that certain real estate brokerages, including The Real Brokerage, participated in practices resulting in inflated buyer broker commissions, in violation of federal antitrust laws.

The Company is currently evaluating the complaint and at this time cannot provide further details or comments. The Company believes that additional antitrust litigation may be possible. The Company cannot provide any assurances that results of this or similar litigation will not have a material adverse effect on its business, results of operations or financial condition. The Real Brokerage will continue to monitor the situation closely and will provide updates as more information becomes available and is appropriate for disclosure.

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports more than 13,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding Real’s belief’s regarding additional litigation. Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, the impact of additional litigation. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contacts

Investor inquiries, please contact:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com
908.280.2515

For media inquiries, please contact:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

elisabeth@therealbrokerage.com
201.564.4221

TORONTO–(BUSINESS WIRE)–#valueforgenerations–Choice Properties Real Estate Investment Trust (“Choice Properties” or the “Trust”) (TSX: CHP.UN) announced today that it will be reporting fourth quarter 2023 results on February 14, 2024, after-market hours.

Management will host a conference call the next day on February 15, 2024 at 10:00 AM (ET) with a simultaneous audio webcast. To access via teleconference please dial 1 (240) 789-2714 or 1 (888) 330-2454 enter the event passcode: 4788974. The link to the audio webcast will be available on www.choicereit.ca/events-webcasts.

About Choice Properties Real Estate Investment Trust

Choice Properties is a leading Real Estate Investment Trust that creates enduring value through the ownership, operation and development of high-quality commercial and residential properties.

We believe that value comes from creating spaces that improve how our tenants and communities come together to live, work, and connect. We strive to understand the needs of our tenants and manage our properties to the highest standard. We aspire to develop healthy, resilient communities through our dedication to social, economic, and environmental sustainability. In everything we do, we are guided by a shared set of values grounded in Care, Ownership, Respect and Excellence.

For more information, visit Choice Properties’ website at www.choicereit.ca and Choice Properties’ issuer profile at www.sedar.com.

Contacts

Ronald Nip

Senior Manager, Investor Relations

T: +1 647 417 1599

E: ronald.nip@choicereit.ca