First Capital Realty Announces Completion of its Previously Announced $43.4 Million Bought Deal Share Issue


    TORONTO, July 3 /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 1,600,000 common shares
of First Capital Realty as well as 240,000 additional shares pursuant to the
exercise of the over-allotment option by the underwriters at a price of
$23.60 per common share for total gross proceeds of approximately
$43.4 million. As part of the transaction, Gazit Canada Inc., an affiliate of
the principal shareholder of First Capital Realty, purchased 300,000 common
shares and Alony-Hetz Properties and Investments Ltd., an associate of First
Capital Realty, purchased 100,000 common shares.
    The offering was underwritten by a syndicate led by RBC Capital Markets
and including BMO Nesbitt Burns Inc., Scotia Capital Inc., CIBC World Markets
Inc., National Bank Financial Inc., TD Securities Inc., Raymond James Ltd.,
Genuity Capital Markets G.P., Blackmont Capital Inc., Canaccord Capital
Corporation and Desjardins Securities Inc. The offering was made under First
Capital Realty's base shelf prospectus dated June 2, 2008. The terms of the
offering are described in a prospectus supplement dated June 25, 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 Realty's revolving
credit facilities, to fund identified and future acquisitions, to fund
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 by any sale of the securities
in any jurisdiction in which such offer, solicitation or sale would be


    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 164 properties, including eight under development,
totalling approximately 19.4 million square feet of gross leasable area and
12 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 329 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 Avenue, Suite 400,
Toronto, Ontario, Canada, M6K 3S3, Tel: (416) 504-4114, Fax: (416) 941-1655,

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890