TORONTO, Jan. 9, 2012 /CNW/ - First Capital Realty Inc. ("First Capital
Realty" or the "Company") (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 the appointment of Andrea Stephen
as a new independent director of the Company, effective immediately.
Ms. Stephen recently retired as Executive Vice President, Investments
for The Cadillac Fairview Corporation Limited ("Cadillac Fairview"),
where she was responsible for developing and executing the investment
strategy, including all acquisitions and dispositions. During her
11-year tenure with Cadillac Fairview, Ms. Stephen led the execution of
over $9 billion of transactions, including Cadillac Fairview's first
investments in the United Kingdom and Brazil. Prior to joining Cadillac
Fairview, Ms. Stephen was Director, Real Estate with the Ontario
Teachers' Pension Plan Board, where she initiated the U.S. real estate
investment program and led the team that privatized Cadillac Fairview.
Ms. Stephen has served for five years on the Board of Directors of
Multiplan Empreendimentos Imobiliaros and is also a member of the Board
of Directors of the Pension Real Estate Association (PREA). She is a
member of the Global Advisory Committee of Timbercreek Asset Management
Ltd. and was previously a member of the Investor Advisory Committee of
the National Association of Real Estate Investment Trusts (NAREIT). Ms.
Stephen holds an undergraduate degree in business from St. Francis
Xavier University and is a Chartered Accountant.
"We are very pleased to have Andrea Stephen join our Board of
Directors," said Chaim Katzman, Chairman of the Company. "Andrea has an
in-depth understanding of our business, and her strategic knowledge,
experience and reputation in our industry will be an advantage to First
Capital Realty going forward."
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 ten
under development, totalling approximately 23.2 million square feet of
gross leasable area and three sites in the planning stage for future
SOURCE First Capital Realty Inc.
For further information:
Dori J. Segal, President & CEO, or
Karen H. Weaver, Executive Vice President & CFO
First Capital Realty Inc.
85 Hanna Avenue, Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114