First Capital Realty announces recent acquisitions



    TORONTO, March 29 /CNW/ - First Capital Realty Inc. ("First Capital
Realty") (TSX:FCR) Canada's leading owner, developer and operator of
supermarket-anchored neighbourhood and community shopping centres, located
predominantly in growing metropolitan areas, announces the acquisition of
three income-producing properties totalling 291,000 square feet with an
aggregate purchase price of approximately $63.3 million.
    First Capital Realty acquired Halton Hills Village, a newly built 104,000
square foot centre located in Halton Hills, Ontario. The centre is located at
the southeast corner of Mountainview Road and Argyll Road in a growing and
affluent area and is a good fit operationally with the Company's portfolio in
Mississauga, Oakville and Brampton. Major tenants include a 55,000 square foot
A&P, TD Bank, Tim Horton's, and Petro-Canada. The purchase price of
$32.7 million including closing costs was satisfied in cash.
    The Company also acquired Centre d'Achats Ville Mont-Royal, a
132,000 square foot property located in Montreal, Quebec. The shopping centre
is located at the intersection of highway 40 and Lucerne St. Major tenants
include a 30,000 square foot Provigo, Scotia Bank and Blockbuster. The
purchase price of $17.5 million, including closing costs was satisfied by cash
and the assumption of $5.9 million of debt at a fixed rate of 7.14% due
September 2012.
    In addition, First Capital also completed the acquisition of Glenbrook
Plaza in Calgary, Alberta, a 55,000 square foot centre adjacent to the
Company's Richmond Square Shopping Centre. The purchase price of $13.1 million
including closing costs, was satisfied by cash and the assumption of
$5.2 million of debt at a fixed rate of 5.26% due December 2015. The combined
Richmond Square Shopping Centre will now total 157,000 square feet with
redevelopment potential.
    "We continue to execute our strategy of acquiring well-located properties
with redevelopment opportunities situated in growing urban markets," stated
Sylvie Lachance, Executive Vice President of First Capital Realty Inc.,
"including these recent transactions, year-to-date shopping centre
acquisitions total $133.3 million".

    ABOUT FIRST CAPITAL REALTY (TSX:FCR)

    First Capital Realty is Canada's leading owner, developer and operator of
supermarket-anchored neighbourhood and community shopping centres, located
predominantly in growing metropolitan areas. The Company currently owns
interests in 160 properties, including 6 under development, with approximately
18.9 million square feet of gross leasable area. In addition, the Company owns
13.9 million shares of Equity One (approximately 19.1%), one of the largest
shopping centre REITS in the southern U.S., that trades on the New York Stock
Exchange under the ticker symbol EQY. Including its investment in Equity One,
the Company has interests in 333 properties totalling approximately
36.8 million square feet of gross leasable area.





For further information:

For further information: Dori J. Segal, President & C.E.O., or Karen H.
Weaver, C.F.O., First Capital Realty Inc., 85 Hanna Ave., Suite 400, Toronto,
Ontario, Canada, M6K 3S3, Tel: (416) 504-4114, Fax: (416) 941-1655,
www.firstcapitalrealty.ca


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