First Capital Realty appoints senior executive to head property management



    TORONTO, Aug. 27 /CNW/ - First Capital Realty Inc. ("First Capital
Realty") (TSX:FCR) Canada's leading owner, developer and operator of
supermarket and drugstore-anchored neighbourhood and community shopping
centres located predominantly in growing metropolitan areas, today announced
that Mr. Peter Papagiannis will join the Company's management team effective
September 2, 2008. Mr. Papagiannis will assume, in his position as Vice
President, full responsibility for property management activities for First
Capital Realty's growing real estate portfolio.
    Prior to joining First Capital Realty, Mr. Papagiannis was Chief
Financial Officer and Treasurer of the Ontario Realty Corporation, Chief
Financial Officer of Brookfield LePage Johnson Controls Facility Management
Services, and President of FCB Property Management Services Ltd., an affiliate
of First Capital Asset Management ("FCAM", a wholly owned subsidiary of First
Capital Realty). A graduate of Ryerson Polytechnical University, Mr.
Papagiannis is also a Certified Management Accountant.
    "We are very excited to welcome Pete to our team. In this new leadership
role, he will be instrumental in continuously improving our infrastructure and
the services we provide to tenants in our growing portfolio of properties
across the country. His extensive management experience with large real estate
portfolios will fit well with our organization," said Sylvie Lachance,
Executive Vice President, First Capital Realty.
    "First Capital Realty has what I look for in a great real estate company
- quality people, quality assets and sound real estate principles. I am very
pleased and excited to be joining this dynamic organization, and look forward
to working with all of the skilled real estate professionals on the First
Capital team," said Mr. Papagiannis.
    Mr. Papagiannis will also serve on the Board of Directors of FCB Property
Management Services Ltd., First Capital Realty's joint venture with Brookfield
LePage Johnson Controls Facility Management Services.

    ABOUT First Capital Realty (TSX:FCR)

    First Capital Realty is Canada's leading owner, developer and operator of
supermarket and drugstore-anchored neighbourhood and community shopping
centres, located predominantly in growing metropolitan areas. The Company
currently owns interests in 169 properties, including eleven under
development, totalling approximately 19.5 million square feet of gross
leasable area and 7 land sites in the planning stage for future retail
development. In addition, the Company owns 14 million shares of Equity One
(approximately 19%), 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 327
properties totalling approximately 35.4 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 Avenue, Suite 400,
Toronto, Ontario, Canada, M6K 3S3, Tel: (416) 504-4114, Fax: (416) 941-1655,
www.firstcapitalrealty.ca


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