First Capital Realty completes C$200 million bought deal equity offering

Torys acted as counsel to First Capital Realty with a team that included Simon Knowling, Michael Zackheim and Riley Harmon (corporate/securities).

On July 18, 2018, First Capital Realty Inc. ("First Capital") announced that it closed its previously announced bought deal public offering of 9,757,000 common shares at a price of C$20.50 per share to a syndicate of underwriters co-led by CIBC Capital Markets and TD Securities Inc. for gross proceeds of approximately C$200 million.

First Capital intends to use the net proceeds from the offering to partially fund the approximately C$300 million capital requirements for certain acquisitions and development projects, including:

• a land assembly at the corner of Yonge Street and Roselawn Avenue in Toronto, Ontario;
• a 60% interest in the Hazelton Hotel located in the heart of Yorkville in Toronto, Ontario;
• a 100% interest in the ground-floor retail component of 775 King Street West in Toronto, Ontario;
• a 100% interest in approximately 30,500 square feet of new ground floor retail space in a new high-end boutique low-rise condominium in Kerrisdale, a community located on the west-side of Vancouver, British Columbia;
• four complementary urban properties primarily in Toronto, Ontario;
• the redevelopment of the Wilderton Shopping Centre in Montreal, Quebec; and
• the construction of a 40-storey residential rental tower and retail podium at Dundas Street West and Aukland Road in Toronto, Ontario.

First Capital Realty is one of Canada's largest owners, developers and managers of grocery anchored, retail-focused urban properties where people live and shop for everyday life, with ownership interests in 160 properties, totaling approximately 25 million square feet of gross leasable area.

Further information can be found on First Capital's website.