/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
TORONTO, March 26 /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, announced today
that it has completed its previously announced sale of 4,300,000 common shares
of First Capital Realty as well as 600,000 additional shares pursuant to the
exercise of the over-allotment option by the underwriters at a price of
$22.25 per common share for total gross proceeds of $109.025 million. As part
of the transaction, Gazit Canada Inc., an affiliate of the principal
shareholder of First Capital Realty, purchased 1,000,0000 common shares and
Alony-Hetz Properties and Investments Ltd., an associate of First Capital
Realty, purchased 200,000 common shares.
The offering was underwritten by a syndicate led by RBC Capital Markets
and including BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank
Financial Inc., Scotia Bank Capital Inc., Raymond James Ltd., TD Securities
Inc., Canaccord Capital Corporation and Genuity Capital Markets G.P. The
offering was made under First Capital Realty's base shelf prospectus dated
June 1, 2006. The terms of the offering are described in a prospectus
supplement dated March 17, 2008 filed with Canadian securities regulators.
The net proceeds from this offering will be used by First Capital Realty
to pay down amounts owing on certain of First Capital's revolving credit
facilities, to fund future acquisitions and development activities and for
general corporate purposes.
The securities offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any jurisdiction in which such offer, solicitation or sale would be
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 161 properties, including six under development,
totalling approximately 19.4 million square feet of gross leasable area and
14 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 326 properties
totalling approximately 36.5 million square feet of gross leasable area.
This press release may contain forward-looking statements relating to
First Capital Realty's operations and the environment in which it operates
that are based on First Capital Realty's expectations, estimates, forecasts
and projections. These statements are not guarantees of future performance and
involve risks and uncertainties that are difficult to control or predict.
Therefore, actual outcomes and results may differ materially from those
expressed in these forward-looking statements. Readers, therefore, should not
place undue reliance on any such forward-looking statements. Further, a
forward-looking statement speaks only as of the date on which such statement
is made. Except as required by law, First Capital Realty undertakes no
obligation to publicly update any such statement or to reflect new information
or the occurrence of future events or circumstances.
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,